Energy company Sasol to explore potential of green hydrogen project in South Africa

SOUTH AFRICA – Sasol, an energy and chemical company, has signed a Memorandum of Agreement (MOA) with the Northern Cape Development Agency (NCEDA) to lead the feasibility study to explore the potential of the Boegoebaai green hydrogen project as an export hub for green hydrogen and ammonia. This study is expected to take approximately 24 months. The outcomes of this feasibility study will determine the next step of development. The Boegoebaai green hydrogen development has been designated a Strategic Integrated Project (SIP) in the South African National Development Plan and…

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EU, GIZ extends US$65 million to Nigerian to support its renewable energy sector

NIGERIA – The Nigerian electricity sector is set to receive a US$65 million boost through its Nigerian Energy Support Programme (NESP), from the European Union in collaboration with Germany’s Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ). With the extension, the EU has granted an additional US$20 million funding to the initial US$27 million dedicated to supporting the Nigerian renewable energy sector while the total funding for the programme now comprises US$47million, from the EU, while US$17 million is from the German government. Head of Cooperation for the EU Delegation to Nigeria…

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Afreximbank partners Gateway to launch fund that will improve product offering

AFRICA – The African Export-Import Bank (Afreximbank) announced that its development impact-oriented subsidiary, the Fund for Export Development in Africa (FEDA), has entered into a Joint Venture arrangement with Gateway Partners (Gateway) to co-establish the Africa Credit Opportunities Fund (ACOF). This partnership is a first of its kind between an African Development Finance Institution and an alternative investment manager. The fund intends to broaden and strengthen Afreximbank’s support for the continent, by enhancing the Bank’s scope of intervention beyond its traditional trade finance products. “We are pleased to partner with…

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Fintech company Digital PayGo partners Mastercard to launch mobile payment solutions for SMEs

ZAMBIA – Digital PayGo, a Zambian-based fintech company, has partnered with Mastercard to launch a new merchant mobile payments solution for SMEs in the country. Known as “SME-in-a-Box”, the solution will enable the SMEs to safely make and receive digital payments through various online channels. It will support the enablement of digital payments for merchants and their customers, by providing them with a convenient, easy-to-use, and safe way to perform cashless transactions from their mobile devices. Backed by Mastercard’s payment technology, SME-in-a-Box enables digital transactions through the use of a…

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Private equity firm Castle One secures investment from HL Hall to help extend its offering

SOUTH AFRICA – Castle One, a prop-tech venture capital and private equity organisation, has reportedly secured an undisclosed notable investment from HL Hall and Sons Holdings (Halls). The investment will be used to help the prop-tech venture builder assist the real estate industry in optimising technology to benefit this sector. In addition, the investment will assist Castle One is accelerating its existing objectives and help extend its offering and presence to foreign markets. “Our investment into Castle One is tremendously exciting as our companies have strong shared values and a…

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AfricInvest acquires minority stake in insurance company REGIC

NIGERIA – AfricInvest, a Pan-African asset management company, has acquired a minority stake in Royal Exchange General Insurance Company (REGIC). According to AfricInvest, the investment was made through its evergreen private equity fund, FIVE, in the form of a subscription to a capital increase. “The desire to participate in more large-ticket corporate transactions, diversify existing business and product lines as well as diversification of delivery channels were some of the key drivers behind this push for additional working capital by REGIC,” AfricInvest said in a statement. “The additional working capital…

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