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Partnership

Private Equity Firm B Investment Sells Its 20% Stake Of Total Egypt To Total Outre-Mer

suchohrdly gay seznamka EGYPT – B Investments Holding, an Egypt-based private equity firm, has signed a contract to sell 20% of its stake in Total Egypt to Total Outre-Mer, France, for a total consideration of approximately EGP 146 million (US$9.3 million), in accordance with the exit terms pre-agreed with Total at the time of the investment in Total Egypt.  In a statement to the Egyptian Exchange (EGX), the company said that, after the deal’s completion, its stake in Total Egypt will decrease from 7.98% to 6.38%.  Read also: China To Overtake US As World’s Biggest Economy By 2028: Report During the first nine months (9M) of 2020, B Investments Holding achieved profits...

West African Tech Startup Expands Offering

West African startup and ‘African Super App’, Gozem has partnered with  Asia Africa Investment & Consulting (AAIC), the investment manager for Africa Healthcare Fund to launch a new health-based service that targets the Francophone sub-Saharan African market via the app.  The partnership follows the recent investment into Gozem’s pre-series A round from AAIC and will enable access to healthcare for Africans in the Francophone sub-Saharan region.  Read also: SA Fintech Launches Prepaid Virtual Card For SMEs In an official press release, Shigeru Handa, Director of AAIC explains that the Gozem is a leading app in Africa that will accelerate the accessibility for Africans within the healthcare system. “Gozem is one of the most...

Tony Elumelu Foundation, EU To invest €20 Million Into Women-Owned Startups Across Africa

The Tony Elumelu Foundation (TEF), committed to empowering young African entrepreneurs, and the European Union have partnered to identify, train, mentor and fund 2,500 young African women entrepreneurs in 2021.  The partnership will disburse €20 million in financial and technical support for women-owned businesses, across all 54 African countries, in addition to providing increased access to market linkages, supply chains and venture capital investments. The joint initiative will significantly strengthen and deepen the EU-Africa partnership, builds on the platform and experience of the US$100m TEF Entrepreneurship Programme, and forms part of the EU External Investment Plan to support women economic empowerment within the EU Gender Action Plan (GAP III). Commenting on...

Nairobi-Based Startup OkHi Launches In Nigeria

A smart addressing startup, based in Nairobi OkHi, has partnered with Africa’s largest banking platform,  Interswitch to launch in Africa’s largest market, Nigeria.  The partnership aims to assist OkHi’s objective which is to provide 195-million Nigerians with access to a physical address. This will in turn lead to accelerating the eCommerce sector and ensuring financial inclusion. The launch in Nigeria will reportedly save the economy $2-billion a year and accelerate innovation across the economy. Read also: Egyptian Fintech Startup Zeal Rewards Secures Six-Figure Seed Funding OkHi is a smart addressing startup. Smart addressing systems allow people to attach a phone number, email address, and their account details to make convenient payments without...

MFS Africa Partners With Xoom To Offer Mobile Money Transfers In Africa

AFRICA – MFS Africa, a pan-African fintech platform, has partnered with Xoom, a PayPal service, to offer secure and convenient mobile money transfers to seven countries across Africa. MFS Africa will connect Xoom to its digital payments hub, the largest in Africa, allowing the company’s customers in the UK, Europe and North America to send money to people in Cameroon, Ghana, Rwanda, Uganda, Zambia, and Zimbabwe – with plans to include more countries on the continent in 2021. Xoom already provides money transfers to bank accounts and cash pick-up locations in 160 markets around the world. The partnership will allow Xoom to continue to expand its presence in...

Beyond Grants And Impact Investments, There’s A Growing Interest In Africa.

How much impact investment comes into Africa every year? And do you think it’s enough?  My bet is that even if you don’t know the answer to the first question, you probably know the answer to the second question: It’s not enough. Over the years impact investing in Africa has seen a steady rise.  As at 2014, the UNDP estimated that at least $8 billion had come into Africa via impact investment. Yet, there’s still a huge gap of $100 billion annually needed to support  Africa’s much needed growth. Read also: Kenyan Off-grid Startup SunCulture Raises $14m To Flood Africa With Solar Water Pumps Impact investments are investments made in companies, organizations...

CcHUB Syndicate Launches To Help Investment Groups, Firms & HNIs To Co-Invest For As Little As $5K

Co-creation Hub (CcHUB) has launched the CcHUB Syndicate,  an investment vehicle to empower investment groups or firms, High Net Worth Individuals (HNI) to co-invest (for as little as $5000) in startups across Sub-Saharan Africa along with CcHUB. The Syndicate by CcHUB aims to accelerate the growth of early-stage ventures delivering value accretive services and products to the African market at scale; with the goal to increase the number of disruptive and innovative companies with the capacity to create impact at scale for the continent by garnering support through our network of investors and partners. Speaking on the launch of the investment program, Bosun Tijani, CEO CcHUB and iHUB,...

20 African Startups Share $350k At Africarena 2020

Strengthening their position as the main accelerator of the African tech ecosystem, the AfricArena summit has announced 20 startups from 18 African countries as winners in the ecosystem and open innovation challenges. The winners walk away with combined prizes of over $350,000 in cash and AWS credits, along with a few lucky winners who will receive tickets to Viva Technology in Paris next year. For its fourth edition, AfricArena hosted this year’s annual summit as a hybrid event, both in person at Workshop 17 in Cape Town and virtually via its AfricArena Air web platform and an innovative new mobile app. — AfricArena Wired. Read also: Why Some VCs...

Absa And Mastercard Partner To Create Access To 50,000 Dignified And Fulfilling Jobs For Young People

GHANA – Absa Financial institution Ghana and the Mastercard Foundation have sealed a partnership deal aimed at stimulating the growth of Micro, Small, and Medium Enterprises (MSMEs) to create access to 50,000 dignified and fulfilling jobs for young people in Ghana. The partnership among others seeks to build the capacity of 5,000 MSMEs, especially women led firms, smallholder farmers, and players in the agribusiness value chain; strengthen MSME lending capability within the bank to build understanding and help improve quality of service to sector; To leverage digital technology to drive financial inclusion at scale and enable Absa Bank Ghana to provide financial and technical support to scale up promising Fintech start-ups while building their capability to help digitise the MSME space in Ghana. Read also: Why Mentorship Can Make Or Break Your Startup Mrs Abena Osei-Poku, Managing Director, Absa Bank Ghana,...

Sasol To Sell Part Of Lake Charles Business To LyondellBasell For $2bn

SOUTH AFRICA – Chemicals and energy group Sasol has entered into a $2billion agreement to sell part of its Lake Charles business in Louisiana in United States to multinational chemicals group LyondellBasell. If approved by Sasol shareholders, LyondellBasell would pick up 50% of the Lake Charles base chemicals business and the two parties would form a joint venture. Sasol has grappled with cost overruns at Lake Charles in recent years as 2020 has delivered an explosion at the facility, a hurricane, and a slump in oil price due to the Covid-19 pandemic. Sasol had total debt of UD$11.8bn in its year to ending June which compares unfavourably with its market capitalisation...

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