Asset finance company Tugende raises US$3.6m in series A funding

UGANDA – Tugende, a technology-enabled asset finance company, has raised US$3.6 million equity financing in its Series A round of funding. The investors who took part in the round include San Francisco and Paris-based VC firm, Partech, and Enza Capital. The investment follows the US$6.3 million raised in November 2020 and led by Toyota Tsusho investment fund Mobility 54 bringing Tugende’s total Series A financing to US$9.9 million. Founded in Kampala, the capital of Uganda by Michael Wilkerson in 2012, the company provides a technology-based medium for micro, small and medium…

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I&M bank and Toyota Kenya ink asset finance deal

KENYA – I&M Bank Limited and Toyota Kenya have entered into an asset financing deal targeting the bank’s premium and business customers, as well as potential customers. The deal will see the bank offer up to 90% financing for Toyota Kenya’s passenger and commercial vehicles including Hino trucks, Hilux single and double cabs, Land cruisers, Prados, Fortuners, Rush and Rav 4 vehicles, among others. The scheme includes purchase of Toyota, Suzuki, Hino, and Yamaha brands. Under the agreement, customers will enjoy competitive interest rates at extended repayment periods of up…

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North American Kariya Energy set to acquire assets in Africa oil and gas companies

AFRICA – Kariya Energy, a North American energy firm, is set to acquire upstream and midstream oil and gas assets in various African jurisdictions, targeting producing assets and developing small-scale LNG Kariya Energy and its management team’s engagements and experience with various deep and shallow water projects in Mozambique, Nigeria, Senegal, Congo DRC, Congo Republic and Gabon makes these countries great investment possibilities. After spending 16 months reviewing data from various IOC’s, Kariya Energy will be pursuing acquisitions of various exploration and development plays either through Farm-in deals or operatorship…

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