Author: James Wambua

Stanbic IBTC Bank Nigeria’s headline PMI declined to 46.9 in October from 49.8 reported in September. This is a pointer that the country suffered a marked deterioration in business conditions during the start of the fourth quarter. Stanbic Bank report says this was the most pronounced dip in private sector trade activity since March last year. Nigeria suffered the third-fastest rise in overall input prices on record in October 2024 forcing a downturn in the country’s private sector activity at the start of the final quarter of the year. Stanbic IBTC Bank Nigeria’s headline PMI declined to 46.9 in October…

Companies within the Special Economic Zone (SEZ) benefit from reduced corporate tax rates, zero-rated VAT, lower withholding taxes, and preferential import duties. The business hub has successfully attracted 17 firms so far, and eight have already enjoyed the benefits of the SEZ framework. By 2040, Nairobi Gate envisions a facility that supports Kenya’s industry needs and serves as a model for SEZ operations in sub-Saharan Africa. Nairobi Gate Industrial Park Special Economic Zone (SEZ) has announced the groundbreaking of its fifth phase, a $7 million expansion project in Kenya’s agro-processing industry. Designed to support Kenya’s agro-processing potential, this initiative reflects…

Janngo Capital’s $78M fund has redefined gender-equal investment in Africa’s tech sector. This has positioned the firm as a key player in African venture capital scene while supporting women-led enterprises across the continent. Janngo’s fund has drawn new investors, Mastercard Foundation Africa Growth Fund, U.S. International Development Finance Corporation (DFC), International Finance Corporation (IFC), and ANAVA Fund. Janngo Capital, a female-led Pan-African venture capital firm, has made history by finalizing its second fund at an impressive $78 million, 20 per cent beyond its original target. This milestone establishes Janngo Capital as the largest gender-equal tech VC fund in Africa, a…

This initiative focuses on training developers to become certified in NVIDIA’s technologies, creating talent knowledgeable in AI, data science, and GPU processing. By nurturing a workforce skilled in AI and advanced tech, this alliance will drive innovation, entrepreneurship, and economic growth. Young developers will gain job opportunities and contribute to solutions in healthcare, finance, and agriculture. Africa’s youth population, one of the fastest-growing in the world, presents both a challenge and an opportunity. With millions of young Africans entering the job market each year, the continent faces a pressing need to generate work opportunities to check a worsening joblessness crisis.…

A new alliance between fintechs Network International and Ant International is set to stir up the digital finance ecosystem in Africa and the Middle East. Deal will see banks, fintechs, and telcos across the MEA gain access to a cutting-edge digital wallet suite. With Alipay+ Wallet Tech, Network aims to offer businesses enhanced experience in digital payments. The push to enhance financial inclusion and digital wallet offerings in Africa has received a shot in the arm with Network International and Ant International announcing a strategic partnership aimed at revolutionizing mobile wallet technology. Through this collaboration, banks, fintechs, and telecommunications companies…

The injection of $2 million will allow Oyster to deepen its reach, bringing more farmers into its network and enhancing its ability to implement climate-smart practices. This expansion comes at a critical time as Ghana’s agricultural sector faces mounting challenges from climate change, making the need for resilient, sustainable farming methods more urgent Oyster has also contributed roughly $3.8 million to farmers, helping stabilise incomes and supporting community growth. Oyster Agribusiness, a Ghanaian agri-tech company specializing in climate-smart agriculture, has secured a $2 million investment to scale its operations and expand its support for smallholder farmers across the country. The…

To stay within the 1.5°C target, cutting emissions by 42 per cent by 2030 and 57 per cent by 2035 must remain a priority for all nations. This level of reduction requires more than just promises on paper; it demands immediate, impactful action on a global scale. The call to limit global warming to 1.5°C is growing more urgent. As climate scientists and world leaders sound the alarm, the call to limit global warming to 1.5°C is increasingly urgent. According to the UN Environment Programme (UNEP) in its 2024 Emissions Gap Report, the window for action is closing fast. For…

PickAlbatros operates a portfolio of 4-star and 5-star hotels located in key tourist destinations in Egypt. Vantage Capital’s exit highlights the resilience and growth of Egypt’s hospitality sector amid challenging global conditions. Egypt’s hospitality sector is a key pillar of the country’s economy, attracting 15 million international tourists annually. Vantage Capital, Africa’s mezzanine debt fund manager, has announced the successful full exit of its investment in PickAlbatros Hotels, a leading hotel owner and operator based in Egypt. PickAlbatros operates a portfolio of 4-star and 5-star hotels located in key tourist destinations along Egypt’s Red Sea coast, including Sharm El Sheikh,…

Founded in 2022, Madica provides investment funding of up to $200,000. Nigeria-based Earthbond simplifies access to clean, affordable energy for African SMEs. Earthbond will gain from executive coaching opportunities, and access to Madica’s global network of investors for follow-on funding. Madica, an investment program tailored for pre-seed stage startups in Africa, is channeling funding in Earthbond, a climate tech startup unlocking affordable, reliable solar energy for Nigerian SMEs. Following the investment, Earthbond will participate in investment program which includes 18 months of dedicated mentorship support. “We are excited to be investing in this exceptional startup as it tackles some of…

Mukuru has launched a new mobile wallet in Malawi to enhance international transfers and boost financial access, particularly for underserved and unbanked communities. The Mukuru Wallet features two pockets, Nyanja and Moyo, designed for domestic and international money transfers, with added benefits like no cash-out fees and interest on savings, promoting financial inclusion. The wallet is part of Mukuru’s digital transformation strategy, empowering Malawians to participate in the digital economy and modernizing financial services across the country. Mukuru, a financial services platform popular for its world-class fintech solutions, has made a strategic leap in Malawi by launching its innovative mobile…