Afrinvest West Africa appoints Onoise Onaghinon as its Chief Operating Officer

WEST AFRICA – Afrinvest West Africa Limited, a leading wealth advisory firm, has announced the appointment of Mrs Onoise Onaghinon as its Chief Operating Officer. Mrs Onaghinon joined Afrinvest (then SecTrust) in 2003 as an Analyst in the Firm’s investment banking division.  With diligence, commitment and professionalism, she rose through the ranks to become an Associate, then Vice President and eventually Executive Director & Head of Investment Banking.  She is a seasoned veteran in the Nigerian capital markets and investment landscape with over 18 years of experience in capital raising,…

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Online auto marketplace Autocheck launches online truck loans marketplace

WEST AFRICA – Autocheck, an online auto marketplace, has launched a truck loans marketplace in Nigeria and Ghana, as it seeks to provide a structured market for truck loans and services. With hundreds of truck dealers across Nigeria and Ghana on its platform, the fleet ranges from Flatbeds, Semi-trailers, Tankers as well as Heavy, Garbage and Panel trucks. As part of the rollout, Autochek is partnering with key logistics stakeholders in Nigeria and Ghana, including Kobo360, to finance trucks for African e-logistics transporters and truck owners. This means that customers…

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AfDB launches Global Benchmark bond and US$2m project in 4 Africa counties

WEST AFRICA – The African Development Bank Group (AfDB) has launched a project to support development of domestic debt markets and financial systems in four West African Monetary Zone (WAMZ) countries: the Gambia, Sierra Leone, Guinea and Liberia. The Bank had earlier approved a grant of US$2 million for the project. The project, funded from the Bank’s Transition Support Facility, will provide technical assistance and capacity building to develop domestic debt markets in the four countries. Specifically, it will support the deepening of primary debt markets, improvement of debt market…

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Kabakoo secures funding from Zoom, launches the first no-code training in West Africa

NIGERIA – Kabakoo Academies, an EdTech startup, has launched the first no-code training in West Africa and has also received funding from Zoom via its EdInnovation Award. This intensive FullStack program is designed and delivered in partnership with Contournement, the European leader in no-code training. Kabakoo bets on no-code skills to supercharge its learners’ employability and their local entrepreneurship projects. The Kabakoo engagement in the no-code segment is catalyzed by strong partnerships with, among others, the current leading no-code app, Notion, which supports Kabakoo’s activities through its impact program. By…

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World Bank approves US$22.5m additional financing for ROGEP to increase electricity access

WEST AFRICA – The Executive Directors of the World Bank have approved an additional financing of US$22.5 million for the Regional Off-Grid Electrification Project (ROGEP) to be implemented in 19 countries. The funds, which come from the International Development Association (IDA), a subsidiary of the World Bank, and the Clean Technology Funds (CTF), are for the ROGEP, which will increase access to electricity in 19 countries in West and Central Africa. ROGEP, launched in 2019, is undergoing a new development. The West African Development Bank (BOAD), which is piloting the…

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Telecel Global services acquires K3 Liberia Telecom in its West Africa expansion plan

LIBERIA – Telecel Global Services (TGS), a telecommunication company, has acquired K3 Liberia Telecom Liberia’s largest licensed ISP specializing in the deployment of fixed wireless technology to deliver voice, data, cloud hosting and content services to the under-served enterprise, SMB, education, healthcare, and public sectors. The managing director of K3 Liberia Telecom highlighted the importance of TGS’s expansion into Western Africa and the company’s key reasons for acquiring K3 Telecom Liberia. “We are keen to enter the Liberian market and work to expand data connectivity throughout the country. Our objective…

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Fondation CHANEL, Global Funds launch US$1.5m fund to advance women’s health

WEST AFRICA – The Global Fund has signed a new agreement with Fondation CHANEL to set up a US$1.5 million civil society-led fund to strengthen women’s and girls’ engagement in developing health policies, including Global Fund-related processes, in western and central Africa. The new partnership entitled Voix EssentiELLES, which will run three years starting in Senegal, Burkina Faso, and Côte d’Ivoire, aims to address these challenges by supporting women’s and girls’ groups and organizations to increase their engagement in shaping public health programs and policies that address their needs. It will serve…

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Mastercard Foundation partners VC firm I&P to support businesses in the education sector

WEST AFRICA – Venture Capital firm Investisseurs & Partenaires (I&P) has partnered the Mastercard Foundation to support businesses in the education sector to recover from the impact of COVID-19. The partnership creates a US$10.5 million three-year programme that will accelerate 30 education entrepreneurs Ghana, Ivory Coast and Senegal by addressing key challenges related to access, quality, and relevance faced within the sector. These include funding for education businesses in recovery phase seeking to adapt and expand, skills development through technical assistance to accelerate SMEs’ digital transformation, education opportunities through innovative…

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French start-up Qotto secures US$2m from EIF OGEF for rural electrification in West Africa

WEST AFRICA – The Off-Grid Energy Access Fund of the Energy Inclusion Facility (EIF OGEF) a provider of solar home systems, has closed €2 million (US$2.43m) financing in favour of the French start-up Qotto to electrify rural households in Benin and Burkina Faso. EIF OGEF loan fund provides mainly secured financing to support the growth of innovative companies in the off-grid energy sector. Managed by Lion’s Head Global Partners (LHGP), the fund draws on the Energy Inclusion Facility (EIF), a debt financing facility for small-scale electricity access projects, capitalized by…

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Floating power plant Karpowership in plans to expand access to electricity in West Africa

WEST AFRICA – Karpowership, a unit of Turkey’s Karadeniz Energy and an operator of floating power plants, is in talks to bring power to two West African countries, as onshore plans to expand access to electricity have been hit by coronavirus-related restrictions. Karpowership, which already supplies eight African countries, is using the high reliability of its mobile units to attract more clients. Its vessels can hook into an onshore grid quickly, sidestepping the red-tape and construction issues involved with building a traditional power plant. And these ships come with their…

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