Africa50 secured $50 million in commitments from two development finance institutions for a fund designed to prepare climate infrastructure projects for investment across Africa. Italy’s Cassa Depositi e Prestiti committed $40 million to the Alliance for Green Infrastructure in Africa Project Development Fund, while France’s Proparco committed $10 million. The AGIA-PD fund provides early-stage capital…
Jumia has priced a $50 million equity raise led by the International Finance Corporation as the e-commerce company adds cash while working toward break-even. IFC will invest $25 million, with Axian and other investors providing the rest. The investors will buy about 9.1 million American depositary shares at $5.52 each. The funding comes as Jumia’s…
Kenya-based electric mobility company Spiro has secured $50 million in new funding to expand its battery-swapping network and electric two-wheeler operations across Africa. The round includes debt financing from Afreximbank and participation from Nithio and Africa Go Green Fund, managed by Cygnum Capital. It follows a $100 million raise announced last year. Spiro operates assembly…
After nearly a decade of legal siege, £50 million worth of prime London properties have been released from UK court restraints, marking the end of one of the most politically charged property battles to cross continents. The Political Spark in Abuja The saga began during Nigeria’s tense 2015 election season, when billionaire businessman Benedict Peters…
