Browsing: investment

• Majority of private equity investment in Sub-Saharan Africa is from outside the continent and represents only a fraction of the capital required
• African startups surpassed the US$ 1 billion mark in capital raised over the first seven weeks of 2022
• The bulk of the funding (76%) and of the deals (78%) have been claimed by startups headquartered in one of the ‘Big Four’ (Nigeria, South Africa, Kenya, and Egypt)

Africa continues to show strong growth prospects, with an expectation of a significant rebound from the Covid-19 pandemic that has spanned over two years, which has also affected African growth less than in developed markets. 

International investment plans and programmes to promote investment in Africa support growth potential given the correlation between Foreign Direct Investment (FDI) and Gross Domestic Product (GDP).

Currently, the majority of private equity investment in Sub-Saharan Africa is from outside the continent and represents only a fraction …

Pyypl uses advanced Artificial Intelligence (AI) and Machine Learning (ML) for regulatory compliance, Anti Money Laundering (AML), and Counter-Terrorism Financing (CTF).

The platform also conducts real-time Politically Exposed Persons (PEP) and sanctions (both country and individual) screening against the latest and historical UNSC, USDT, FATF, OFAC, and EUCFSF records, as well as all local databases.

Fintech startups in Africa have continued to gain a lot of attention from investors who have been pouring billions of dollars to support the industry. …

• Data by the World Bank reveals that at least a quarter of the African population has internet access, a nearly fifty-fold increase in internet usage since 2000. 
• The rapid spread of the internet across the African continent has been lauded as a key driver of prosperity and a sign of the continent’s technological coming of age. 

Over the past few years, the wealth management industry has seen a significant amount of diversification, from traditionally having products geared towards institutional investors and high net worth individuals to offering more accessible products to low and middle-income earners. 

While WealthTech is not a new concept in Africa, there is room for market players to leverage consumer demand for wealth management products that are more digitally accessible and easy to use. 

WealthTech or wealth management technology is the combining of technology such as AI, big data, SaaS, with financial assets, such as savings, investments, …

While tech has presented an avenue to create jobs, supply isn’t catching up with demand. Additionally, the continent’s best talents are leaving in droves to foreign companies in the U.S, Canada, the U.K., and Germany.

AltShcool Africa founded by Adewale Yusuf, Akintunde Sultan and Opeyemi Awoyemi last October in Nigeria, has already received more than 8,000 applications for its software engineering program which starts in April. 

These applications come from 19 countries (including 14 African countries) and Yusuf said the company received the most entries from Nigeria, Ghana, Uganda, Kenya and Botswana. …

• Kiva will oversee the disbursement of the low-interest loans to help SMEs
• Last week Google announced a plan to invest $1billion over 5 years to support Africa’s digital transformation

Google Kenya has announced a disbursement of $10 million to support the economic recovery of small and medium enterprises across Kenya, South Africa, Ghana, and Nigeria during their virtual Google Kenya event.

A non-profit organisation, Kiva, will oversee the disbursement of the low-interest loans to help the SMEs get through the economic hardship created by COVID-19.

This follows the announcement made at the Google for Africa event last week where CEO of Google and Alphabet, Sundar Pichai, announced the plan to invest $1billion over 5 years to support Africa’s digital transformation.

The investment is expected to focus on enabling fast, affordable internet access for more Africans; building helpful products; supporting entrepreneurship and small business; and helping non-profits to improve lives across …

The ZIPA Executive Director said Zanzibar’s government recognizes that these islets possess sensitive ecosystems and are already home to thriving fishing and agricultural communities. As such, potential developments require careful planning, handling, guidance and oversight, and potential investors will need to adopt a holistic approach in implementing future projects.

“Our investors Expressions of Interest should provide information demonstrating that they possess experience and the ability to develop, operate and manage investment projects.”

“They should also demonstrate financial capacity, and skills in conserving environments, biodiversity, cultural heritage and community development. Interested Investors should specify the intended small island/islands for investment and provide detailed information on the kind of high-end investment intended.”…

Stakeholders of agriculture on the continent have urged governments to work with the private sector to build resillient food systems to bridge the widening gap in production.

Speaking during the Alliance for a Green Revoluton in Africa (AGRA)  organized Africa Green Revolution Forum (AGRF) Summit last week, speakers reiterated that food security cannot be achieved without a gvernment facilitated enabling environemnt for agribusiness to thrive. 

The summit was held ahead AGRF ,  slated for September in Nairobi, where   leaders, while celebrating the milestones the agriculture sector has made over the years, called on enhanced collaboration in transforming the continent’s food systems  amid rising concerns over global food shortages owing to increasing population, shrinking land and climate change.

“As we look at innovative ways of producing food to feed our people, assist our farmers and bolsters agribusinesses, we must explore ways of working together to actualize this commitment. The partnership between …

Brokerage Kenyan firm EFG Hermes Kenya has launched its online equity-trading platform, EFG Hermes One. 

According to the company, the platform will see the Firm offer retail investors seamless and convenient stock trading on the Nairobi Securities Exchange (NSE). 

The online trading platform was launched during an event co-hosted by EFG Hermes Kenya and the NSE in the presence of Muathi Kilonzo, Head of Equities at EFG Hermes Kenya and Geoffrey Odundo, the NSE Chief Executive Officer.

EFG Hermes Frontier Chief Executive Officer Ali Khalpey said with capital market trends demonstrating ever-increasing interest from retail investors across the world, the company aims to increase access and awareness to capital markets to foster better equity trading across sub-Saharan Africa. 

“Our expansion into the retail space is part of our commitment to growing our services in the African continent,” he said. 

“We hope to replicate the success we have …