IFC, Rockefeller Foundation partner to advance clean energy access in Sub-Sahara Africa

SSA – The International Finance Corporation (IFC), the private sector arm of the World Bank Group, and The Rockefeller Foundation (RF), one of the most famous philanthropies, have announced a new partnership that aims to deploy US$150 million of RF’s catalytic capital in blended finance to mobilize up to US$2 billion of private sector investment in distributed renewable energy solutions. The partnership will prioritize countries in Sub-Saharan Africa and select other regions, where both organizations have identified immediate opportunities and ultimately, the list of countries where this partnership will deploy…

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Vodacom unveils lofty fiber, fintech, IOT investment plans as it entrenches itself as a tech company

SOUTH AFRICA – Mobile communication company Vodacom is fortifying its business model, scaling up fibre, financial services, Internet of things (IOT) and network expansion plans in a bid to become the dominant telco in all its markets. The telco says it remains focused on entrenching Vodacom as a top Pan-African technology company through investments in these sectors to augment its relationships with the 100 million plus customers it serves across Africa. The intensified desire to pursue opportunities in fibre, financial services and IOT comes at a time the telco is transitioning into…

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Venture capital Mobility 54 invests in telematics insurance company AiCare

KENYA – Toyota Tsusho Corporation and its group company CFAO SAS is investing in AiCare Group Inc., a provider of telematics insurance system for insurance companies in Kenya. The investment will be engaged by Mobility 54 Investment SAS (“Mobility 54”), a corporate venture capital subsidiary of Toyota Tsusho group which was jointly established in October 2019, through the convertible notes investment. In Kenya, it is compulsory for every car-owner to subscribe motor insurances, and approximately 3 million vehicles are insured today, and insurance premium rates are generally determined based on…

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Asset manager 27four launches managed by women for women in fund management accelerator

SOUTH AFRICA – Asset manager 27four Investment Managers has launched 27four Women, an accelerator managed by women for women that will focus on accelerating the trajectory for achieving both transformation and gender parity goals in South African asset management. The women-led accelerator will provide qualifying women fund managers with access to assets under management, and operational and compliance infrastructure to allow the managers to build track record and develop skills around industry best practice and capacity building. Investors will now have access to more women managed funds to consider and,…

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Ivory Coast to add value to cocoa waste, invests US$244m in cocoa-powered bio-diesel plant

IVORY COAST – Ivorian specialist in the biomass sector, Société des Energies Nouvelles (SODEN), has partnered with US Trade and Development Agency to establish a cocoa-powered renewable energy plant. The project, which will innovatively put to use the cocoa-waste is expected to cost about 131 billion West African CFA francs (US$244m). Ivory Coast is the world’s leading producer of cocoa beans contributing over 40% of the global supply. The cocoa beans which are exported to power the US$130billion per annum cocoa and chocolate industry, make up a small portion of…

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Jamie Pujara – Hospitality Guru Wins Global Award As He Dabbles Into Real Estate To Pivot From Covid-19

Jamie Pajura was recently awarded the prestigious Mark Lincoln Volunteer of the Year Award 2021 by the Entrepreneurs’ Organization for his selfless dedication to helping fellow business owners survive the Covid-19 pandemic. An entrepreneur whose family opened Nairobi’s first Chinese restaurant Tin Tin Restaurant in 1978, he is an avid investor with prior forays into E-commerce and has recently entered the real estate business. Africa Inc. magazine had a chat with Jamie Pujara.

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Ethio Telecom opens new Huawei-built modular data center

ETHIOPIA –  Ethiopian telecommunication company Ethio Telecom, has launched what it says is the biggest Tier III-ready modular data centre in Ethiopia. The incumbent operator said that the new data centre, in the Gola Sefer district of the capital, Addis Ababa, was supplied by Huawei. “The newly built data centre will firstly serve existing service provision such as mobile money and business support systems, and the extra capacity could be used for new business such as colocation and cloud service in the future,” said Ethio Telecom. Chen Mingliang, CEO of…

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European Union to spend US$1.2b in constructing vaccine factories in Africa

AFRICA – The European Union is planning to invest US$1.2 billion to facilitate construction of vaccine factories in Africa, Commission President Ursula von der Leyen has said. The president added that this will help the continent, where vaccination against COVID-19 has barely begun in many countries, to catch up. The bloc’s head made the pledges in Rome at a health summit of the G20, the world’s major economies. “Preventing future health emergencies means strengthening capacities throughout the world. Today, Africa imports 99% of its vaccines. This has to change. Therefore,…

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Trade and Development Bank finances the expansion of King Faisal Hospital in Rwanda

RWANDA – The Eastern and Southern African Trade and Development Bank (TDB), is financing the expansion of Kigali’s King Faisal Hospital (KFH)’s outpatient facilities with over US$14 million in a 6-year primary forfaiting transaction. KFH is a multi-specialty 160-bed quaternary hospital providing a range of specialized health care in Eastern and Central Africa. Additionally, the new outpatient clinic and doubling of the hospital’s outpatient facilities capacity to 45 consultation rooms, TDB’s financing will support the renovation and construction of the outpatient block’s education and research centre, day care premium facilities,…

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Sanlam Investments to raise additional US$2.5b capital for impact funds

SOUTH AFRICA – Sanlam Investments, South Africa’s largest black-owned asset manager, is looking to raise an additional US$2.5 billion for its range of impact funds. Sanlam injected US$161 million of its capital when it launched the Investors’ Legacy range in 2020 and has ambitions to attract like-minded investors to deliver on its goal of creating and preserving thousands of jobs and bolstering economic recovery.  The information was disclosed in the first Sanlam Investments Responsible Investment and Stewardship Report released recently. Nersan Naidoo, CEO of Sanlam Investments, said the asset manager’s purpose has evolved…

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