South Africa

Africa Investment Forum kicks off delivering on the promise to strengthen investment opportunities

November 12, 2019

SOUTH AFRICA – The 2019 Africa Investment Forum kicked off by keeping the promises it made and to move from commitment to action. A US$500 million equity deal presented by the Africa Infrastructure Investment Fund last year, to speed up investments in agriculture, and a US$175 million equity transaction from the Africa Guarantee Fund for […]

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Visa openness in Africa unlocking intra-regional trade and investments potential, report shows

November 12, 2019

AFRICA – African travellers now have liberal access to over half the continent, the 2019 Africa Visa Openness Index published by the African Union Commission and African Development Bank, reveals. The report was launched on the sidelines of the Africa Investment Forum in Johannesburg, South Africa. On average, Africans can travel to approximately 27 countries […]

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FMO bank and European Commision to invest US$220m under newly signed deal

November 12, 2019

SOUTH AFRICA – FMO, a Dutch entrepreneurial development bank, and the European Commission (EC) signed a guarantee agreement for the FMO Ventures Program at the Africa Investment Forum in Johannesburg. The EC has provided €40m (US$44m) in guarantees to FMO’s innovative early-stage investment program. This is FMO’s second guarantee program within the European Fund for […]

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Agri-Vie offloads stake in South African abalone farming company to African Pioneer Group

November 12, 2019

SOUTH AFRICA – EXEO Capital’s Agri-Vie Fund 1, an agribusiness Investment Fund focusing on Sub-Saharan Africa has announced its exit from South Africa’s abalone farming companies, HIK Abalone Farm (HIK). The exit marks the end of an eight years rewarding partnership, bring in new partners, the African Pioneer Group, an investment company with other interests […]

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South Africa’s Absa to open New York office to support growth

November 12, 2019

SOUTH AFRICA – South African lender Absa Bank is set to launch a new representative office in New York, USA to support its growth. The new office, to be located in Manhattan, will carry out a variety of activities including marketing of its banking services. The move was approved by the New York State Department […]

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Amazon Web Services launches programmes to help innovation of SA SMEs

November 12, 2019

SOUTH AFRICA – Amazon Web Services, Inc., a service that provides on-demand cloud computing platforms, has announced the launch of the Amazon Web Services Equity Equivalent Investment Program (AWS EEIP), designed by Amazon Web Services South Africa and Amazon Data Services South Africa. The AWS EEIP will see over R365 million (US$24.6m) invested in the […]

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Kaap Agri partners with Decision Inc. in implementing a Microsoft data warehouse

November 9, 2019

SOUTH AFRICA – Decision Inc., a data, digital and performance intelligence business, is in the process of implementing a Microsoft data warehouse at the Kaap Agri group, to optimise how it manages its data to more effectively integrate the information and deliver better business insights. According to ITWeb, the Kaap Agri group specialises in retail […]

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Nedbank launches Money app lite for android to reduce data usage

November 9, 2019

SOUTH AFRICA – Nedbank, a financial service provider, has launched the Money App Lite, a more streamlined and lighter version of the Nedbank Money App, reports IOL Business Report. Money App Lite balances providing rich digital banking experiences with the need to ensure access for all clients, including those with limited data or device memory. […]

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SA fintech startup secures US$1.7m capital line from Vumela Fund

November 7, 2019

SOUTH AFRICA – ProfitShare Partners, a South African startup, has secured a US$1.7 million capital line from the Vumela Fund to further address the lack of capital available to SMEs. The Vumela Fund, which is managed by Edge Growth Ventures, has the mandate of supporting high-growth SMEs in the banking supply chain with good economic […]

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South Africa launches new automotive hub at the Ford Motor’s facility in Pretoria

November 7, 2019

SOUTH AFRICA – President Cyril Ramaphosa, Gauteng Premier David Makhura and Minister of the Department of Trade and Industry Ebrahim Patel broke ground in honour of the launch of the Tshwane Automotive Hub at the Ford Motor Company in Silverton, Pretoria. Ford is the anchor tenant of the new hub, which hopes to create in […]

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