ATI closes US$238m financing agreement for health and transportation projects in Ghana

GHANA – The African Trade Insurance (ATI), a pan-African financial institution providing credit and political risk Insurance Products to support African investments, has announced the closing of two €203 million (US$238.8m) financing agreements social loans, to fund four health and two transportation projects in Ghana. The first transaction, a €55 million (US$64.7m) financing package, relates to the construction of two new Trauma hospitals in Obuasi and Anyinam districts, a new Accident and Emergency center at Enyiresi Hospital and the rehabilitation of Obuasi’s current outdated Health Center. Once completed, the four…

Read More

Wilmar Africa Limited inaugurates US$30m detergent manufacturing plant in Ghana

GHANA – Wilmar Africa Limited, a manufacturing business, has launched a US$30 million detergent manufacturing plant in Tema, Ghana. The detergent plant has a capacity of 24,000 metric tonnes and can meet the country’s total demand for detergent. “The establishment of this state-of-the-art factory underscores the importance of such a strategic partnership between the Private Sector and Government in pursuit of our common goal of creating jobs and bringing prosperity to our people,” Mr Alan Kyeremanten, Minister of Trade and Industry, said. “This new detergent manufacturing plant is going to…

Read More

Ecoband partners Workonline Communications to boost Ghana’s internet ecosystem

GHANA – Ecoband Networks, a telecoms company, has partnered with Workonline Communications, an innovative pan-African Network Service Provider to boost Ghana’s internet ecosystem. Workonline, a wholesale provider of Internet connectivity services, announced its presence in Ghana in 2020, just as the number of Internet users in Ghana breached 15 million in the country.   Ecoband was chosen by Workonline as a provider of dark fibre infrastructure services to assist with Workonline’s connection from its point of presence at PAIX to the cable landing station. PAIX operates Ghana’s leading carrier-neutral data centre,…

Read More

IronRidge partners Piedmont Lithium for production of lithium in Ghana

GHANA – IronRidge Resources, an Australia-based minerals exploration company, has signed an agreement with Piedmont Lithium, a mineral exploration company, to commence lithium production in Ghana. The agreement signed between the two firms aims at fully funding and accelerating the Ewoyaa Lithium Project to production. Piedmont will invest approximately US$15 million to acquire a 9.47% equity interest in IRR (the subscription) and will appoint one director to IRR’s Board of Directors. Piedmont will also have the opportunity to earn a 50% stake in IRR Ghana by investing: US$17 million to…

Read More

Vodafone Ghana partners Invest In Africa to enhance digital capabilities for local businesses

GHANA – Invest In Africa (IIA), an enterprise focused on growing local small and medium-sized enterprises (SMEs) in Sub-Saharan Africa to deliver positive economic impacts and create jobs, has partnered with Vodafone Ghana to support local businesses by enhancing their digital capabilities. The partnership will provide local SMEs with tailor-made digital solutions to enable them to adapt to the disruptions caused by the COVID-19 pandemic, continue interacting with customers online and grow their businesses. Some of the customised ICT solutions to be provided by IIA and Vodafone to SMEs in…

Read More

Unicorn Group launches its Incubation Campus in Ghana

GHANA – Unicorn Group, a pan-African investment firm focused on innovative ideas, startups, and early-stage firms in Africa’s technology and technology-enabled sectors, is thrilled to announce the opening of the Unicorn Incubation Campus in Accra. The Unicorn Incubation and Innovation Campus Accra will set a new standard for everyone with an idea and address the issues encountered by entrepreneurs and startups across West Africa, after the introduction of the company’s incubation campuses in Lagos, San Francisco, and Dallas. “The Unicorn Incubation Campus Accra further reiterates our commitment towards spurring innovation…

Read More

Fintech company Zeepay raises US$7.9m Series A funding

GHANA – Zeepay, a fintech company, has announced the completion of a US$7.9 million Series A funding. The funding is a hybrid of both equity and balance sheet funds to support its operations. The fundraise was led by I&P, an impact investing group with over US$250 million in assets under management in the amount of US$3 million, and supported by ARK Holdings, a privately held family investment portfolio on behalf of Andrew Takyi-Appiah (Managing Director) and Zoe Takyi-Appiah in the amount of US$800,000. GOODsoil VC, an African-focused early-stage venture capital…

Read More

Logistic startup Jetstream closes US$3m funding round lead by Alitheia IDF

GHANA – Jetstream, a logistics startup, has announced that it has closed a funding round of US$3 million with participation from Alitheia IDF, Golden Palm Investments, 4DX Ventures, Lightspeed Venture Partners, Asia Pacific Land, Breyer Labs, and MSA Capital. Jetstream is a tech-enabled logistics company that was founded by Miishe Addy and Solomon Torgbor in 2018 after observing the many challenges that companies faced at the ports with cargoes. Torgbor’s past work experience with Maersk freight forwarding company had exposed him to cargoes waiting for weeks because of errors in…

Read More

MainOne launches its MDXi Data Centre in Ghana in its expansion plans

GHANA – MainOne, a provides telecommunications services, has launched its MDXi Data Centre in Appolonia City, Accra, Ghana in its determination to expand its data centre operations across West African countries. The MDXi Data Centre, a subsidiary of MainOne broadband connectivity company, is now live in Ghana, after it was fully established in Lekki, Lagos in 2015. The launch,saw MainOne showcase the 100+rack facility to its invited guests. The guests took turns to tour the facility with an in-depth view of the advantages it presents to businesses. The data center…

Read More

Injaro Agricultural Capital Holdings Limited divests its 30% stake in seed producer M&B

GHANA – Injaro Agricultural Capital Holdings Limited (IACHL), the impact investment fund managed by Injaro Investments, has announced that it had sold all of its 30% stake in seed producer M&B Seeds and Agricultural Services Ghana Limited (M&B). This sale of shares represents a total exit from M&B after a 10-year holding period. As a result of the investment, M&B achieved 9-year average revenue growth of 67.5% per year, added 5,000 tonnes of process capacity and produced in 2020 more than 26 times its annual production as of 2011. M&B…

Read More