15 startups gets selected for the Google for Startups Accelerator Africa

AFRICA – Fifteen startups have been selected for the sixth class of the Google for Startups Accelerator Africa, which aims to support African tech startups through their crucial growth phases. The Google for Startups Accelerator is a three-month online programme that includes three intensive virtual training bootcamps, mentorship, and Google product support. For the second year in a row, the programme is virtual, and it kicks off in June with 15 startups from across the continent participating. Six of the selected companies are from Nigeria, namely consumer intelligence, engagement and…

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Vodafone Cash partners payments company WorldRemit for seamless money transfers

Vodafone extends zero charge on mobile money transfers

GHANA – Vodafone Ghana’s mobile financial services, Vodafone Cash has partnered with global cross-border payments company WorldRemit to enable its customers to receive international money transfers straight to their mobile money accounts without any charges. The service allows Vodafone Cash customers to seamlessly receive international money transfers from their family and friends in the UK, Canada, Australia, the USA, and others. This partnership between two global brands eliminates the stress, risks, long queues and other challenges associated with visiting agents to access remittances from overseas. “Our partnership with WorldRemit is…

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Access bank launches the third edition of ‘Womenpreneur Pitch-a-ton Africa’

NIGERIA – Access Bank Plc has unveiled the third edition of its ‘Womenpreneur Pitch-a-ton Africa’ programme in a bid to empower female entrepreneurs. The programme was designed to provide female owned businesses across Africa an opportunity to access finance, world-class business training as well as mentoring opportunities. The programme was also designed to create an enabling environment for female entrepreneurs to grow their businesses. “Access Bank has been a leading advocate for women’s economic empowerment in Africa and this is the key motivation for the ‘W’ Initiative which caters to…

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Dangote Cement successfully completes US$729m unsecured bond

NIGERIA – Dangote Cement Plc, Africa’s largest cement producer, has announced the successful issuance of 50 billion Series 1 Fixed Rate Senior Unsecured Bonds under its new N300 billion (US$729m) Multi-Instrument Issuance Programme. The bonds were issued on May 26, 2021, at coupon rates of 11.25%, 12.50% and 13.50% for the 3, 5 and 7-year tranches respectively. Despite market headwinds, the bond issuance was well received and recorded participation from a wide range of investors including domestic pension funds, asset managers, insurance companies and high net-worth investors. The proceeds of…

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IFC and East Africa Bank unveils US$5m trade finance guarantee to support businesses in Djibouti

DJIBOUTI – The International Finance Corporation (IFC), a member of the World Bank Group, has announced a US$5 million trade finance guarantee facility to Djibouti- based East Africa Bank (EAB) to help local companies engage in cross-border trade. The support is a vital engine of economic growth that has been strained by the COVID-19 pandemic, IFC’s trade finance facility guarantee of up to US$5 million under its Global Trade Finance Program (GTFP) will help EAB provide financing to importers and exporters in Djibouti, supporting the local economy and helping maintain…

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Mastercard partners Zamtel to transform digital payments in Zambia

ZAMBIA – Global payments and tech company Mastercard and Zamtel have announced a strategic partnership that will enable Zamtel Mobile Money customers, even those without bank accounts to make safe and seamless digital payments on the Mastercard network including international e-commerce transactions. The partnership is expected to drive financial inclusion and improve access to the digital economy. Under the agreement, Zamtel will launch a suite of Mastercard products including a Mastercard virtual solution, a physical debit card, and Mastercard QR, giving its Mobile Money customers new ways to access and…

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Dimension Data founder Jeremy Ord quits alongside other executives

SOUTH AFRICA – Information technology services company Dimension Data founder and executive chairman Jeremy Ord is leaving the company he founded 38 years ago. Other executives that are also leaving the systems integrator are understood to be Saki Missaikos, chief strategy officer, and Steve Nathan, chief corporate finance officer. Pearl Mngomezulu, Dimension Data head of communications for the Middle East and Africa (MEA) region, told ITWeb: “I can confirm that several executive leaders have chosen to pursue interests outside of the business and will be leaving us at the end…

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FSD Africa Investments injects US$4.5m to improve off-grid energy access in Africa

AFRICA – FSD Africa Investments (FSDAi), the investing arm of FSD Africa, has pumped US$4.5 million in Nithio FI, a renewable energy financing intermediary focused on the Pay as You Go (PAYG) off-grid solar sector, to provide reliable and sustainable renewable energy solutions for households and small businesses in Kenya, Nigeria, and Uganda. Nithio Holdings is an Artificial Intelligence (AI)-enabled energy financing platform whose mission is to standardize credit risk assessments and therefore drive more capital to the sector, including by investing directly and efficiently in off-grid solar companies. Over the next…

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Solar manufacturer JinkoSolar Holding completes 1.2MWh order for its Energy Storage System

AFRICA – JinkoSolar Holding Ltd, world largest solar manufacturer, has announced the completion of 1.2MWh order for its Energy Storage System with one of the largest power developers in Africa. The project will improve the electricity consumption of local villages and improve the life quality of the residents. The client is one of the most influential multi-technology companies in West Africa and has cooperated plenty of new energy projects with World Bank, local government and others. The new solution includes batteries, a power conditioning system (PCS), DC modular, switch cabinets…

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Christopher Lundh appointed as Chief Executive Officer for Africell Angola

ANGOLA – Africell Group has announced the appointment of Christopher Lundh as Chief Executive Officer of Africell Angola. Under Mr. Lundh’s stewardship, Africell is expected to deliver on its promise to transform the Angolan telecoms sector by providing affordable, reliable and high-quality mobile telecommunications services to millions of consumers. Christopher Lundh joins Africell after five years as a Managing Director and Chief Commercial Officer of Afghan Wireless. The American national previously held senior leadership roles at companies including Telecel Congo, Africa Online, and Gateway Communications and has extensive experience in…

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