The Citizens Watch Advocacy Initiative (CWAI) has lauded the Africa Investment Forum (AIF) outing in Marrakesh, Morocco, which witnessed a record-breaking $34.82 billion investment interest for projects across Africa in a groundbreaking effort. Project developers and investors looked at investment opportunities in several areas, including food and agriculture, renewable energy, mining, transport corridors, aviation, deep-water...
The World Bank has granted $266.5 million in funding to support the acceleration of digitalization across the MSGBC region. Financial support will be channeled through the implementation of the Digital Transformation for Africa/West Africa Regional Digital Integration Program (DTfA/WARDIP), an initiative designed to enhance infrastructure development, foster ICT skills and expand the regional digital market....
Africa Finance Corporation (AFC) (www.AfricaFC.org), the continent’s leading infrastructure solutions provider, and the West African Development Bank (BOAD), a regional financial institution mandated to drive economic unity and advancement in West Africa, yesterday announced a strategic Memorandum of Understanding (MoU), solidifying their joint commitment to promote infrastructure and economic progress across Western African states. Signed...
Amini Corp, a climate tech business based in Kenya, has raised $4 million in seed capital. Salesforce Ventures, Salesforce’s worldwide investment arm, and Female Founders Fund, a seed stage venture fund that only invests in female-founded firms, led the round. Amini is a female-led start-up that uses AI and satellite technologies to help close Africa’s...
In this edition of Ask An Investor, TechCabal spoke to Andile Ngcaba, chairman of Convergence Partners, about the state of digital infrastructure in Africa. In January, Convergence Partners, a pan-African ICT investment firm, announced that it closed its Convergence Partners Digital Infrastructure Fund (CPDIF) at $296 million, surpassing its initial target by over 18%. The fund was backed...
The government is seeking partnerships to train 3 million young Nigerians in digital skills over the next three years. Telecom infrastructure company IHS Towers recently committed to invest N1 billion for the implementation of the program. Aminu Maida, Executive Vice Chairman of the Nigerian Communications Commission (NCC), has called on Finnish technology company Nokia to increase...
The loan which will be used to finance the supply, installation and commissioning of the national backbone data transmission infrastructure marks Uganda’s growing dependence on Chinese donors. Uganda is preparing to borrow $150 million from the China Export-Import Bank (China Eximbank) to develop its Internet infrastructure, the Ministry of Finance announced on Monday (November 27)....
The U.S. Commercial Service and the African Development Bank have announced a new strategic collaboration in a move to drive digital transformation across Africa, Unveiled on the sidelines of the Africa Tech Festival held in Cape Town, South Africa, this collaboration paves the way for a series of dialogues on how U.S. digital innovation can...
Cell C, South Africa’s long-struggling mobile telecommunications operator, has provided insight into its financial performance and promised significant improvements in the coming years following a strategic overhaul. “The company’s business stabilisation efforts are yielding improved results, positioning it to return to growth and enhanced competitiveness in the market,” it said in a statement on Monday. Cell...
These figures reflect the growth of mobile finance in Gabon as an alternative to the traditional banking sector. Concentrated in the urban centers of Libreville, Port-Gentil and Franceville, banks struggle to reach low-income customers from regional and remote areas. The growing penetration of mobile telephony allows mobile finance to solve this accessibility problem. The latest dashboard of...
