Browsing: Allianz

funding for growth
  • TLcom Capital has raised $154 million  in its second Fund, TIDE Africa II
  • With this second fund, TLcom Capital maintains its early-stage, multi-sector focus and expands its mandate beyond Sub-Saharan Africa to Egypt.
  • TLcom Capital currently has over $300 million under management.

TLcom Capital, the Africa-focused venture capital firm, announced the final close of TIDE Africa Fund II, its second fund for technology in Africa, at $154 million. Confirming TLcom Capital’s status as Africa’s largest Seed and Series A investor, the new fund accelerates the firm’s mission to partner with elite founders to tackle Africa’s biggest and most complex challenges with innovative solutions that will unlock massive value in the continent’s critical sectors.

At more than twice the size of TLcom Capital’s first fund, TIDE Africa Fund II is oversubscribed and sees participation from several new, high-profile LPs alongside returning LPs from the firm’s first Africa-focused fund, TIDE Africa Fund …

Kenyan businesses and the threats of cybersecurity and corruption
  • Cybersecurity, corruption, and policy shifts have been cited among the top issues that Kenyan businesses will have to confront in 2024.
  • In 2022, Kenya suffered a loss of at least $153 million to cybercrime, which is projected to rise by 14 per cent annually.
  • A new report ranks Kenya as the second most difficult country for businesses in EAC after South Sudan.

Cybersecurity, corruption, and policy shifts have been cited among the top issues Kenyan businesses will have to confront in 2024.

The latest Risk Barometer by underwriting giant Allianz, reveals that in Kenya’s complex and dynamic business environment, several challenges loom, casting shadows on the entrepreneurial spirit that drives the economy.

The high cost of living directly impacts consumer spending, affecting businesses across sectors. A weakening currency coupled with inflation also threatens businesses and the economy.

According to Allianz Commercial CEO Petros Papanikolaou, the key challenges for companies …

$2.1 billion landmark merger between Insurance giants Allianz and Sanlam.
  • Allianz reports that the overall group equity value is estimated to be more than US$2.1 billion, and the new business is likely to rank in the top three in the majority of the areas in which it operates.
  • Initially, Sanlam will retain a 60 per cent stake in the joint venture, with Allianz holding a 40 per cent stake and the option to purchase an additional nine per cent at a later date
  • Insurance penetration in Africa is considerably lower than the global average, standing at 2.78 per cent in 2019 compared to 7.23 per cent globally
  • Only about 1 per cent of the population in Sub-Saharan Africa has insurance coverage

South African insurer Sanlam and German insurance giant Allianz have agreed to create a joint venture that will consolidate both their present and future activities across Africa.

The largest non-banking financial services institution in Africa

The partnership between the …