VCs Need to Explore Untapped Potential in other Parts of Africa’s Techpreunerial Landscape
While Africa recorded a slight dip in funding and deal count in 2023, the tech industry activity in Africa’s venture capital ecosystem is still very strong and promising. In contrast to other developing nations, Africa’s resilience is distinctive, and success doesn’t necessarily hinge on capital-rich environments. Amidst the well-known challenges associated with the global macroeconomic […]
Sovereign Debt Offerings from Africa
Benin is meeting investors in New York on Monday to drum up demand for its first-ever dollar bonds, marking a pickup in sovereign debt offerings from Africa this year. The west African nation plans a minimum $500 million bond with a 14-year final maturity to fund its budget, according to a person with knowledge of […]
Cash-strapped Tunisia Wants to Borrow Billions from its Central Bank
Experts say the unprecedented move could cause inflation and undermine confidence in institutions. In an emergency closed-door meeting, parliament’s finance committee on Wednesday considered President Kais Saied ‘s government’s request to borrow the funds after revising laws intended to guarantee the bank’s autonomy. The laws added the Central Bank to a growing list of institutions […]
Nearly Half of Kenyans have Admitted to being Stressed about their Personal Finances
Most of those dealing with financial stress say it has impacted their social well-being. The survey revealed that most working-class Kenyans fall in the “sandwich generation”, meaning that they have both their children and elderly parents relying on them financially. According to the survey, about 75 percent of the working class have children dependants, while […]
Nigeria has Again Moved the Official Exchange Rate Closer to the Parallel Market Rate
The country’s central bank and other monetary authorities are implementing new measures to quell the rapid depreciation of the naira currency against the dollar and attract foreign investors. Over the past two weeks, they have undertaken a second devaluation of the currency, reviewed regulations for international money transfer operators (IMTOs) and cautioned commercial banks against […]
A Massive Step Forward for South Africa’s EV Infrastructure
Zero Carbon Charge (ZCC) has inked a R1-billion deal to bring new 480kW electric-car “superchargers” to South Africa. The South African company has signed a memorandum of understanding (MOU) with Chinese energy storage systems manufacturer Shanghai Magic Power Tech (otherwise referred to as Magic Power) and its local partner Greencore Energy Solutions to import and […]
New Deal Brings the Mineral Rich Region of the Congo to World Markets
Ivanhoe Mines and commodities trader Trafigura Group signed deals to transport copper by rail from the Democratic Republic of Congo to neighbouring Angola’s port of Lobito, marking the first long-term deal for the railway project that the US government is backing. Trafigura is part of the consortium that won a 30-year concession to operate the […]
Building Modern Cross-border Payments Infrastructure and Tools for Africa
Founded in 2022 by Joshua Tebepina, CEO, and Arepade Peremi, CTO, Bingtellar enables swift and cost-effective cross-border transactions into or across Africa for diaspora, freelancers, remote teams, international contractors, and businesses. At the heart of Bingtellar’s solution is the integration of stablecoins and DeFi to local payment networks, such as mobile money wallets and bank […]
Getting a Bank Loan in Africa isn’t the Most Inclusive Experience for Everyone
Africa is home to over 350 million people who have never had a bank account. That already excludes a chunk of the population from accessing credit. There’s the usual slow application with lots of paperwork. And then, banks have a checklist that leaves people out – a steady income, a minimum volume of inflows through […]
Tanzania Marked its First Participation at the Mining Indaba
This year’s event, the 30th edition of the conference, with the theme Embracing the power of positive disruption: A bold new future for African mining, focuses on the need for adaptation in the African mining sector in light of technological advancements and environmental concerns. The Tanzanian delegation, comprising both government and private sector representatives, arrived with […]
