Vodacom Tanzania and Smart Lab partner to support business startups

Vodacom Tanzania and Smart Lab partner to support business startups

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TANZANIA – Leading telecommunication company Vodacom Tanzania Plc and Smart Lab have launched the Vodacom Digital Accelerator, a programme to help early-stage and growth-stage technology startups become profitable and revenue-generating businesses. The new program which will run yearly aims at identifying and…

Centum Investments raises US$65m to finance operation across East Africa

Centum Investments raises US$65m to finance operation across East Africa

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KENYA – Centum Investment has raised US$65million (Sh6.5 billion) from South Africa-based Nedbank for bankrolling ongoing projects across East Africa. The re-financing deal was signed between the Nedbank Corporate and Investment Banking (CIB), the Nedbank property finance division, and Centum Real Estate,…

Financial group I&M Holdings invests US$180m in Kenyan unit

Financial group I&M Holdings invests US$180m in Kenyan unit

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KENYA – I&M Holdings, a conglomerate comprising financial service providers, says it has invested an additional US$180 million (Sh1.8 billion) in its fully-owned Kenyan subsidiary whose operations expanded following the acquisition of Giro Commercial Bank. The Nairobi Securities Exchange-listed firm made the…

Tanzania’s NMB Bank sets aside US$217.65m credit facility for dairy sector

Tanzania’s NMB Bank sets aside US$217.65m credit facility for dairy sector

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TANZANIA – The NMB Bank, a commercial bank in Tanzania, has set aside US$217.65 million (Tshs500 billion) to finance milk processing ventures in a bid to boost several milk processing plants in the country. The financial institution said that the funding, which…

Standard Chartered Bank launches digitally-led retail banks in more African markets

Standard Chartered Bank launches digitally-led retail banks in more African markets

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AFRICA – Financial Group, Standard Chartered, has launched its digital services in Tanzania and Ghana following successful roll-outs in Côte d’Ivoire and Uganda. The firm has also unveiled plans of rolling out the system in Kenya following the launches of the Bank’s…

Standard Chartered launches second phase of digital banking service in Africa

Standard Chartered launches second phase of digital banking service in Africa

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AFRICA – Financial and Banking service provider, Standard Chartered, has launched the second phase of its digital-only retail bank across Africa. Standard Chartered said that the banking service will be extended in four key markets including Uganda, Tanzania, Kenya and Ghana  within…