Impact investor Oikocredit provides US$2.72m loan to Fin’Elle for SMEs

CÔTE D’IVOIRE – Oikocredit, a social impact investor, has provided a loan of €2.3 million (US$2.72m) to Fin’Elle, a microfinance institution (MFI) focused on empowering women entrepreneurs by providing microfinance and mesofinance loans to women-owned small to medium enterprises (SMEs) in Côte d’Ivoire. Fin’Elle’s mesofinance products cater to the needs of SMEs that need a loan but would be seen as too small for commercials banks and too big for MFIs. In addition to the loan, Oikocredit plans on further supporting Fin’Elle with technical assistance to help them improve women’s…

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AfDB appoints Cesar Augusto Mba Abogo as Country Manager for Mozambique

MOZAMBIQUE – The African Development Bank Group (AfDB), has announced the appointment of Mr. Cesar Augusto Mba Abogo as Country Manager, designated for Mozambique Country Office, effective 16 August 2021. Mr. Cesar Augusto Mba Abogo, a citizen of Equatorial Guinea, is an Economist and a writer with more than 15 years of experience in natural resource economics, development economics, public policy and international negotiations. From April 2019 to October 2020, he served as Minister of Finance, Economy and Planning for the Republic of Equatorial Guinea. He was appointed during challenging…

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Oil group ENI signs deal to assess feasibility of producing hydrogen in Egypt

EGYPT – The oil group ENI has signed an agreement with state-owned Egyptian Electricity Holding Company (EEHC)and Egyptian Natural Gas Holding Company (EGAS) signed a deal to assess the feasibility of producing hydrogen in Egypt. The move is part of Eni’s major overhaul launched last year to transition into renewables and taper off its oil and gas output. The groups will conduct a study into joint projects to produce both green hydrogens, using electricity generated from renewables, and blue hydrogen, through the storage of carbon dioxide. The review will also…

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SEFA reports record number of transactions in 2020, secures US$90m in new funding

AFRICA – The Sustainable Energy Fund for Africa (SEFA) approved seven high-impact projects worth US$54 million in 2020, its best year in spite of challenging Covid-19 conditions, according to its recently released 2020 Annual Report. SEFA, managed by the African Development Bank (AfDB), focuses on green baseload, green mini-grid, and energy efficiency investments. The Fund, founded in 2011, transformed into a Special Fund on 31 October 2019. The report, titled Building Foundations for Success, also details the Fund’s success in attracting increased donor funding. SEFA secured commitments worth US$90 million from…

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Flutterwave appoints Oluwabankole Falade as its new CRGRO

NIGERIA – Flutterwave, a payment technology company in Africa has announced the appointment of Mr. Oluwabankole Falade, as its new Chief Regulatory and Government Relations Officer (CRGRO). Flutterwave said Falade new role would include ensuring that the operations of the company are aligned with the policies of the agencies of government that regulate its activities. He is also expected to provide strategic oversight and government relation strategies to support Flutterwave’s vision. “We’re grateful for the conducive regulatory environments that have helped us carry out our business, safely and in the…

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Cellulant introduces digital payments platform Tingg in Zambia

ZAMBIA – In a bid to foster growth for both the formal and informal sector in Zambia, Pan-African payments business Cellulant has rolled out Tingg, a digital payments platform enabling businesses and their consumers to accept and make payments seamlessly. Payment technology over the years has completely transformed how retailers operate as approximately thirty years ago, most retailers across Africa did not accept credit cards, and mobile money was still an idea but over the past decade and a half, mobile money has transformed how African consumers access and use…

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Guinea, Togo join the leading infrastructure solutions provider AFC

WEST AFRICA – Africa Finance Corporation (AFC), the leading infrastructure solutions provider in Africa, has onboarded the Central Bank of Guinea and the Togolese Republic as its newest shareholders, cementing AFC’s pan-African representation. One of AFC’s first Member States in 2008, the Corporation has invested approximately US$300 million to spur employment opportunities and sustainable economic development from Guinea’s vast mineral resources. Developments co-financed by AFC include the high-grade bauxite Alufer Mine in 2017, which marked one of the largest foreign investments in the west African country since the 2014 Ebola…

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GreenHouse Lab launches pan-African fintech accelerator for startups

NIGERIA – GreenHouse Lab, the flagship accelerator programme by Nigerian VC firm GreenHouse Capital, has opened applications for a pan-African fintech accelerator, which will offer startups access to mentorship and funding opportunities. Powered by Google for Startups, GreenHouse Lab is the acceleration arm of GreenHouse Capital, and has accelerated 15 leading African startups since its inception. The six-week programme will bring together the most innovative African startups, accomplished tech founders, global investors, and world-class corporate partners. The accelerator represents GreenHouse Capital’s vision of “founders backing founders” and the importance of…

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Liquid Intelligent Technologies appoints Martin Mushambadope as the new CEO for South Sudan

SOUTH SUDAN – Pan African technology group Liquid Intelligent Technologies, has appointed Martin Mushambadope as the Chief Executive Officer for its operations in South Sudan. Martin brings over 20 years of experience, having worked for various industries such as telecommunications, health insurance, banking, and audit practice. In addition, he has vast International experience being exposed to working environments in Singapore, United Kingdom, Kenya, Ghana, and Zimbabwe. Adil El Youssefi, Regional CEO, Liquid Intelligent Technologies, East Africa said, “Martin is a seasoned, well-respected, experienced senior executive, and he is the right leader to…

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Food delivery platform Elmenus raises US$10m pre-Series C funding for its expansion plans

EGYPT – Elmenus, the Cairo-based food discovery, ordering, and delivery platform, has announced that it raised US$10 million in pre-Series C funding round lead by Egyptian payments firm Fawry. New York-based hedge fund Luxor Capital, and Egyptian property developer Marakez, also participated in the deal. Luxor has previously backed companies like Zomato, Glovo, and Gopuff. Elmenus is their first investment in the Middle East. Elmenus aims to use the funds to expand to more cities in Egypt and personalize the ordering and delivery experience for its customers. A part of…

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