Air Tanzania gets a boost as government orders 5 additional aircraft

purchase of five more aircraft for its struggling national carrier Air Tanzania. The order includes cargo planes, which are all expected to be delivered before the end of 2023. Aviation industry sources told The EastAfrican that the funds were approved by the current government despite heavy losses incurred by the carrier under a revival program initiated by former president John Magufuli and the effects of the Covid-19 pandemic. The planes, once they arrive in the country, will raise Air Tanzania’s current fleet size to 16. In addition to two new Airbus…

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Nigeria’s auto financing firm Autochek officially launches in Kenya

KENYA – Autochek, the automotive technology company that aims to facilitate auto finance across Africa, has officially spread its operations to Kenya as part of its pan-African expansion. To lead its Kenya operations, Autochek has appointed Bilhah Muriithi as the Country Manager. Having recently acquired automotive marketplaces Cheki Kenya and Cheki Uganda from Ringier One Africa Media (ROAM Africa), the move into the Kenyan market signals Autochek’s focus on building digital solutions that will increase market adoption for auto loan financing and drive partner prosperity for its core stakeholders, such as dealerships,…

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Sahara Group to invest US$1b in LPG to boost African energy transition

AFRICA – Energy and infrastructure conglomerate, Sahara Group, plans to invest over US$1 billion to enhance access to liquefied petroleum gas (LPG) in Africa and emerging economies in a bid to boost the energy transition on the continent. Executive director of the Sahara Group, Temitope Shonubi, disclosed this at the African Refiners and Distribution Association (ARDA) conference 2021 in South Africa where he spoke on the role of LPG in Africa’s energy transition. “Sahara, through its subsidiary, WAGL Energy Limited, is already working towards investing US$1 billion to ramp up its…

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B2B startup Talabeyah raises pre-Seed round to scale its operation

EGYPT – Talabeyah, a Cairo-based startup that provides B2B e-commerce services for food and groceries, has raised a seven-figure pre-Seed round from strategic angel investors.   The startup, which was launched in July 2020 by Karim Nassef, Amr Abbas, Khaled Hussein, and Adel Hodroj, has leveraged its supply chain model and purchase experience by establishing a customer-centric business, due to its founders’ extensive experience in the FMCG industry.   Barakat said the round will help scale the startup’s operations, further build the technology, and leverage the use of AI and machine learning algorithms utilising the collected data…

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Nigeria’s Flutterwave seeks funding at US$3b valuation

NIGERIA – Flutterwave, a Nigerian payments firm, is seeking fresh funding at a valuation of US$3 billion or more, a figure that would roughly triple its last valuation, reports Bloomberg. The start-up, which has offices in Lagos in Nigeria and San Francisco in the US, recently held discussions with potential investors, the people said. Terms of the funding round haven’t been finalized, and it’s possible they may change. A Flutterwave spokeswoman declined to comment. Led by Chief Executive Officer Olugbenga Agboola, the company in March 2021 said it had achieved unicorn…

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US-based Kappa Pay raises US$2.1m to strengthen Africa presence

AFRICA – Kappa Pay, a US-based Fintech platform which leverages blockchain solutions to enable instant merchant and cross-border payments, has completed a pre-seed funding round with US$2.1-million to enable it to build infrastructure to facilitate the movement of money in and out of Africa for the benefit of back African businesses and consumers. The round, led by Morningside with participation from Lake Partners. Blaise Buma, Co-founder of Kappa Pay, said the P2P infrastructure they are setting out to build will be designed for ultra-low-cost, near-instant local and cross-border transfers. “We…

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Kuda partners with Network International to promote cashless payments

NIGERIA – In a move aimed at driving its independent payment cards offering, Kuda Technologies, the challenger bank for Africans, has partnered with Network International, the leading enabler of digital commerce in Africa and the Middle East. Kuda’s proposition of zero fees on cards, account maintenance and transfers as well as its low-interest credit offering delivered conveniently through smartphones and the web have made it particularly attractive to millennials, and the bank now has well over a million customers in its launch country, Nigeria. As Kuda continues to grow significantly, switching…

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Retail-tech startup Alerzo acquires payments platform Shago to boost growth

NIGERIA – Retail-tech startup Alerzo has acquired fintech company Shago Payments as it looks to build on already impressive growth that saw its annualized September transaction volume exceed US$155 million. Founded in 2019, the Ibadan-based Alerzo is an all-in-one technology and services platform that transforms how Nigeria’s informal retail stores operate. Retailers can order stock, have it delivered quickly, receive and make cashless payments, and track store profitability better. Alerzo currently works with more than 150,000 informal retail stores. The startup announced a US$10.5 million Series A round, led by London-based Nosara…

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Kosmos Energy acquires additional Ghana interests for US$550m

GHANA – Kosmos Energy and Ghana National Petroleum Corp. (GNPC) have agreed to acquire interests in Tullow-operated Jubilee and TEN fields offshore Ghana from Occidental Petroleum Corp., Houston for US$750 million. Combined, the assets had a second-quarter 2021 net production of 22,000 boe/d. In a US$550-million deal that closed October 13, 2021, Kosmos gained an additional 18% interest in Jubilee field and an additional 11% interest in TEN fields. The deal increases Kosmos’ interests in Jubilee to 42.1% and in TEN to 28.1%. Consideration due to OXY at completion was…

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OLA Energy commissions US$360,555 LPG plant in Nairobi, Kenya

KENYA – OLA Energy Kenya,  the local subsidiary of Tamoil Africa Holdings Limited, has commissioned a new Ksh40 million (US$360,555) state-of-the-art Liquefied Petroleum Gas (LPG) plant in Nairobi that enables the company to double its capacity and meet the growing domestic demand for cooking gas in the country. Speaking at the commissioning, OLA Energy Kenya Operations Manager Franklin Nubi revealed that the new plant is made up of machinery with very advanced technological capabilities and its intelligent features enable it to detect leakages during the filling process. “The new LPG…

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