Access Holdings to acquire controlling stake in Angola’s Finibanco Bank

ANGOLA – Access Holdings Plc, the holding company of Access Bank Pl, has announced its planned acquisition of a majority equity stake of 51 per cent in Finibanco, an Angolan Bank. Finibanco is a full-service commercial bank with over 20 branches and around US$300 million in total assets in Angola. Sunday Ekwochi, the company secretary said that the transaction would…

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Real estate startup Spleet secures US$2.6m seed round to extend its residential rent-focused solutions

NIGERIA – Spleet, a real estate technology startup, has successfully received a seed round of US$2.6 million to extend its residential rent-focused solutions across Africa. The funding was spearheaded by MaC Venture Capital. Noemis Ventures, Plug and Play Ventures, Metaprop Venture Capital, HoaQ Fund, Assembly Fund, Ajim Capital, Francis Fund, and Eduardo Campos are some of the investors in this…

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AfDB, IsDB & FDA to invest US$618m in Nigeria’s Digital and Creative Enterprises Programme

NIGERIA – The African Development Bank (AfDB), the Islamic Development Bank (IsDB), and the French Development Agency (FDA) are investing US$618 million in the Digital and Creative Enterprises Programme (I-DICE) in Nigeria. President of the AfDB, Akinwumi Adesina, announced this at the Nigeria International Economic Partnership Forum on the sideline of the 77th United Nations General Assembly, New York. Mr…

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CrossBoundary Energy Access, ENGIE to build US$60m mini-grids in Nigeria

NIGERIA – CrossBoundary Energy Access Nigeria (CBEA) and ENGIE Energy Access Nigeria (ENGIE) have announced a project finance agreement to build a US$60 million portfolio of mini-grids that will connect over 150,000 people to electricity in Nigeria. ENGIE has developed a pipeline of mini-grids to build over the next four years. As part of the agreement, CBEA will finance all…

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#APPOINTMENT; Visa appoints new Country Head for South Africa, Oceana appoints new CFO, TechPR Nigeria appoints new CEO, MTN appoints new Executive for Group Legal

Visa appoints Lineshree Moodley as its new Country Head for South Africa SOUTH AFRICA – Global payments company Visa has appointed Lineshree Moodley as its new Country Head for South Africa (SA). Lineshree will be responsible for the development and implementation of Visa’s growth strategy in the region and will be part of the Sub-Saharan Africa (SSA) leadership team at…

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Oil & gas company Shell set to acquire solar provider Daystar Power

SOUTH AFRICA – Royal Dutch Shell, a multinational oil & gas company is set to purchase African solar provider, Daystar Power, as it expands its global renewables footprint and seeks to work towards its carbon emission reduction policy. Shell is one of the most influential oil producers in Africa, but the Daystar purchase is its first power acquisition on the…

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Nigerian B2B digital marketplace Vendease secures US$30m funding to expand operations

NIGERIA – Vendease, a Nigeria based online marketplace that allows restaurants and other food businesses to stock up their supplies, access financial services and power their business operations, has raised US$30 million in an equity and debt funding round. This comes after the Y Combinator-backed digital platform raised a US$3.2m seed round last October, with a focus to consolidate its…

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Online brokerage firm Bamboo officially launches its services in Ghana

GHANA – Bamboo, a Nigerian online brokerage firm that allows Africans to invest real time in local and foreign asset classes, has announced its official launch in Ghana. Bamboo offers a wide range of premium investing content and education tools tailored to users who are new to investing in U.S. stocks. “We believe strongly that all Africans should earn a…

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Healthtech startup Remedial Health raises US$4.4m seed round to expand geographically

NIGERIA – Remedial Health, a Nigeria-based healthtech startup that develops solutions to make Africa’s pharmaceutical value chain more efficient, has raised US$4.4 million in seed funding to accelerate its expansion across Nigeria. The round was led by Global Ventures, with participation from Tencent, Y Combinator, Cathexis Ventures, LightSpeed Venture Partners Scout Fund, Ventures Platform, Alumni Ventures and True Capital Management…

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ECOWAS, Nigeria and Morocco sign MoU for Nigeria-Morocco gas pipeline megaproject

AFRICA – ECOWAS, the Federal Republic of Nigeria and the Kingdom of Morocco have signed a Memorandum of Understanding (MoU) for a gas pipeline project. According to a published joint communique, the Memorandum of Understanding attests to the commitment of ECOWAS and all the countries crossed by the gas pipeline, to contribute to the feasibility and technical studies, the mobilisation…

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