Releaf startup set to expand into more crops and additional West African markets

NIGERIA – Releaf, a raw material procurement & logistics startup, which develops proprietary hardware and software solutions to drive the industrialisation of food processing in Africa, is planning to expand into more crops and additional West African markets after closing its seed round earlier this year. Releaf was founded in 2017 and took part in the Y Combinator accelerator programme in Silicon Valley the same year, but only started operations in the oil palm space in 2019 and deployed its proprietary technology in January of this year. “Our hardware increases…

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World Bank appoints Clara Ana De Sousa as Country Director for the Sahel countries

WEST AFRICA – The World Bank has appointed Clara Ana De Sousa, a Mozambican national, as the new Country Director for the Sahel countries including Mali, Burkina Faso, Chad and Niger. She will be based in Bamako, Mali. Clara De Sousa was previously Manager for the IDA Strategy and Operations unit where she was responsible for the replenishment and stewardship of IDA. She joined the Bank in June 2005 as a Senior Economist in the Economic Policy Sector in the Latin America and Caribbean region and has since held various…

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Dr. George Uduku appointed as General Manager for General Electric in West Africa

WEST AFRICA – General Electric, a multinational conglomerate, has announced the appointment of Dr. George Uduku, a Nigerian national, as the General Manager for West Africa covering Nigeria, Ghana Sierra Leone and Liberia. George will lead the geographic teams and help enable rigorous growth through a focus on execution, team culture and customer experience as a key differentiator. He is a highly regarded leader and expert with more than 10 years of executive healthcare experience in the United States and Africa. “George’s appointment is testament to our localization efforts and…

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IFC invests in two trade finance facilities to support imports of crucial energy products

WEST AFRICA – IFC has invested in two trade finance facilities arranged by Société Générale for Addax Energy S.A to support imports of crucial energy products into several West African countries. IFC’s US$20 million investment in a US$230 million facility will help Addax finance imports of refined petroleum products into Benin, Côte d’Ivoire, Senegal, and Sierra Leone and distribute the products in Burkina Faso, the Gambia, Guinea, Mali, and Niger. An IFC investment of US$40 million in a second facility also arranged by Société Générale for Addax, will finance the…

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Radar Payments to drive payment activities of Vista Bank Group in West Africa

WEST AFRICA – Vista Bank Group (Vista), financial services holding company, has selected its paytech provider Radar Payments to drive its global payment processing activities in West Africa. Radar Payments will centralise payment operations at Vista’s tech hub located in Senegal, supervising Vista Bank’s activities in Guinea, Gambia, Burkina Faso and Sierra Leone while leaving room for further banks to join its network. It is part of the bank’s growth agenda to expand to Burkina-Faso, Togo, Cote d’Ivoire, Senegal and Mali.  The agreement will see Vista Bank running on BPC’s…

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Independent ATM deployer Outsource Monetic launches in West and Central Africa

WEST AFRICA – The Atlanta based United States independent ATM deployer, Outsource Monetic has officially started its commercial and technical operations in the West and Central Africa region. Outsource Monetic is the first Independent ATM Deployer (IAD) to operate in the 8 countries of the West African Economic and Monetary Union (Benin, Burkina Faso, Côte d’Ivoire, Guinea Bissau, Mali, Niger, Senegal and Togo) and the 6 countries of the Economic and Monetary Community of Central Africa (Cameroon, Central African Republic, Chad, Congo, Equatorial Guinea and Gabon). “We are thrilled and…

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Perseus Mining Ltd releases its CY20 Sustainable Development Report and future plans

WEST AFRICA – Perseus Mining Limited, a gold producer, developer and explorer, has released its CY20 Sustainable Development Report that details the company’s progress over the past 12 months. The company has recorded great progress in its 2020 sustainability report as it moves forward in delivering sustainable gold production of 500,000 ounces per annum by financial year 2022. It reports its delivery on its commitment to responsible mining operations in Côte d’Ivoire and Ghana, including an overall economic benefit to host countries totalling about USD$385 million. The report confirms the…

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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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