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Abu Dhabi's power play: 90% of Azura Power acquired
Abu Dhabi's TAQA-linked investors have taken a 90% stake in Azura Power, the gas plant that supplies a chunk of Nigeria's grid. Here's what the deal signals about who's really bankrolling Africa's energy infrastructure.
Lagos event shows Nigerian founders can tap global networks without leaving home
Nigerian founders are being given more opportunities to meet investors, business operators and professionals from the diaspora without having to leave the country to access those networks.
Tether launches $400m fund targeting underserved SMEs
For many small businesses, getting a loan from a bank is not straightforward. They may not have enough assets to use as security or the financial history a bank wants to see.
WapiPay expands its African to Caribbean payment network
If an African business needs to send money to a company in Jamaica, it has to deal with more than just changing one currency into another.
Botswana sets up green finance working group
Botswana has set up a Green Finance Working Group to help shape how banks and investors finance projects with environmental benefits.
Sahara Group starts work on a new gas to power project in Nigeria
Nigeria is adding another gas-to-power project as it looks for more electricity to meet the needs of homes and businesses.
dLocal Ghana gets new licence to handle payments locally
If an international company wants to collect payments from customers in Ghana, it needs a way to connect to the country's banks, mobile-money networks and other payment systems.
Creditchek buys Ugandan fintech Algosys as it moves into East Africa
Creditchek has bought Algosys, a Ugandan fintech that provides banking software to lenders, SACCOs and microfinance institutions.
How SMEs can register a business in Togo
If you have started selling clothes, repairing phones, running a small shop or offering a service in Togo, there comes a point when you may need to put the business on paper.
Ugandan startup Irrisol is using mobile money to run rural water systems
Getting a water system into a rural community is only part of the problem. Someone still has to pay for the water, maintain the pumps and fix the system when something breaks.
A new fibre route is linking Goma to Mombasa
Businesses in Goma now have another route into East Africa's internet infrastructure. Paratus has switched on a 2,000km fibre route linking Goma in the Democratic Republic of Congo to Mombasa in Kenya.
The Hyundai-AfDB deal could be bigger for African suppliers than car buyers
Hyundai Motor Group and the African Development Bank are discussing electric vehicles, manufacturing, energy and transport projects in Africa.
Cognition raises $2 billion at $48 billion valuation
AI startup Cognition has raised about $2 billion in new funding, pushing its valuation to roughly $48 billionThe company is behind Devin, an AI tool that can write code and carry out software development tasks.
Ugandan dairy startup gets backing to expand its processing business
Ugandan dairy company Mujuni Ventures has received backing from Oxano Capital as it looks to expand its processing business.
Business Tools: How Fireflies.ai can help businesses keep track of meetings
For a small business, a meeting can create another job. Someone has to take notes. Someone has to remember what the customer asked for. Someone needs to follow up on the things the team agreed to do.
ARC Ride raises $33.3 million to expand battery swapping across Africa
ARC Ride, a Kenyan electric mobility company, has raised $33.3 million to expand its electric motorcycle fleet and battery-swapping network beyond Kenya.
Mukuru wants Botswana customers to spend money directly from their wallets
Mukuru is giving its customers in Botswana another way to use the money they receive through its platform. The company launched its Companion Card in Botswana in August. The Visa-branded card is linked to a Mukuru Wallet, allowing customers to pay directly from their wallet balance at merchants that accept Visa.
Mncane Mthunzi takes over as naamsa CEO
South Africa's automotive industry has a new CEO. Dr Mncane Mthunzi has taken over as CEO of naamsa, the Automotive Business Council, effective September 7. He replaces Shinny Gobiyeza, who had been serving as acting CEO since April following the departure of Mikel Mabasa.
Temu partners with Kwikpik to deliver orders across Nigeria
Temu has added Nigerian logistics company Kwikpik to its network of delivery partners, giving the e-commerce platform another option for delivering orders to customers across Nigeria.
IFC proposes $40 million for renewable energy projects across Africa
Finding enough money to build renewable energy projects remains a problem for many energy companies in Africa. The projects may not require hundreds of millions of dollars, but raising a few million can still be difficult.