TLDR British International Investment (BII) has committed $20 million to Acumen’s Hardest-to-Reach (H2R) Initiative, a fund aimed at expanding access to off-grid solar power The investment, made through H2R Amplify, will help provide affordable clean energy to over 50 million people across 17 countries H2R Amplify has secured $123 million at first close and uses…
This acquisition brings together Sound United’s respected roster of premium audio brands and Harman’s iconic audio portfolio. HARMAN International (“HARMAN”), a wholly-owned subsidiary of Samsung Electronics Co., Ltd., focused on connected technologies for automotive, consumer, and enterprise markets, today announced it has completed the acquisition of Sound United, the former consumer audio business of Masimo…
The Islamic State-aligned Allied Democratic Forces has exploited security vacuums and tapped into conflict economies. The capture of Goma and Bukavu early this year by the March 23 Movement (M23)/Alliance Fleuve Congo has drawn sustained national, regional and international attention. It has strained the Democratic Republic of the Congo’s (DRC) already weak national army, creating…
The African Development Bank (AfDB) has approved a $25 million equity investment in The Currency Exchange Fund (TCX) to strengthen access to long-term local currency hedging solutions across emerging and frontier markets, particularly in Africa. The Bank said the new capital injection would increase TCX’s ability to absorb risk and extend its reach into illiquid…
Yango Africa, an international technology company, has announced plans to expand its operations to more African countries as part of its global growth strategy. Currently operating in 30 countries worldwide, the ride-hailing giant is present in 13 African markets including Ghana, Côte d’Ivoire and South Africa. The Public Relations Manager of Yango Africa, Mr Bennet…
TLDR Kredete, a fintech focused on helping African immigrants build credit and access financial services, has raised $22 million in a Series A round The raise was led by AfricInvest through its Cathay AfricInvest Innovation Fund and Financial Inclusion Vehicle, with participation from Partech and Polymorphic Capital The company will use the capital to expand…
TLDR Ajua has merged with local feedback platform Rate My Service (RMS) to combine product capabilities and expand into more African markets RMS CEO Ashkay Shah becomes CTO of the merged company, overseeing product development, while Ajua CEO Nyasha Mutsekwa remains The merger aims to strengthen East African operations before re-entering West Africa, including Nigeria,…
Absa has become the fourth major South African bank to join the Department of Home Affairs’ new digital partnership model. This collaboration will expand access to Smart ID and passport services by making them available in more bank branches and through the bank’s digital app. This new partnership overhauls an existing pilot project that Absa…
Dion Millson, Elerian AI founder and CEO. Connect, which positions itself as an international leader in technology-enabled customer experience (CX), has acquired Elerian AI, a specialist in conversational AI-optimised contact centres. This acquisition uniquely positions Connect to provide digital assistants that provide natural, frictionless caller experiences, which allow its customers to scale their contact centres…
TLDR Visa has partnered with Yellow Card to pilot stablecoin-powered cross-border payments across CEMEA The collaboration will test integration with Visa Direct, enabling businesses to send stablecoin-backed transfers directly to users’ bank or card-linked accounts Sub-Saharan Africa has witnessed consistent monthly stablecoin remittances exceeding $500 billion between 2022 and 2024 Visa has partnered with Yellow…
