Malabo — new report from the World Bank Group finds that Equatorial Guinea stands at a decisive moment. The Equatorial Guinea Poverty and Equity Assessment, the first of its kind, finds that, in spite of the oil wealth that transformed this country into an upper-middle-income economy and one of the richest economies in Sub-Saharan Africa,…
Port-Louis, Mauritius — The Mauritius Commercial Bank Limited (MCB) has issued a structured financing package to Invictus Investment Company PLC to support the firm’s expansion across Africa and the Middle East. The facility combines acquisition finance with a revolving credit line, providing Invictus with additional working capital as it scales its agro-food operations. The arrangement…
Nairobi — The European Union is stepping up efforts to expand secure digital connectivity across Africa and the Indo-Pacific through major investments in undersea cable infrastructure–an initiative officials say is critical for economic growth, maritime security, and global stability. Speaking virtually from Brussels to journalists in Nairobi, EU Special Envoy for the Indo-Pacific María Castillo…
The BYD Sealion 7 electric. Chinese multinational new energy vehicle (NEV) manufacturer BYD has made a multibillion-rand investment in expanding its operations in South Africa, as it looks to increase its market share in the local electric vehicle (EV) industry. BYD has set a target to, over the next year, open a dealership in every…
Maziv CEO Dietlof Mare Maziv, the fibre network operator in which Vodacom is buying a 30% co-controlling stake, wants to connect the more than 8 000 cellular base stations in South Africa that are not already connected to fibre infrastructure. CEO Dietlof Mare told Digital Council Africa’s Conext Digital Infrastructure Investment Summit in Sandton on Thursday…
TLDR Kenyan asset-financing startup M-KOPA has reported its first-ever profit after more than a decade of operations across Africa The Nairobi-based company posted a KES 1.2 billion ($9.2 million) profit in 2024, reversing a KES 3.2 billion ($24.7 million) loss in 2023 Founded in 2011 to provide solar home systems on credit, M-KOPA has since…
In this episodes of ITWeb TV, Tinyiko Simbine, co-founder and CFO of GirlCode, discusses the NPO’s mission to empower 10 million women and girls with tech skills by 2030. #Coding Since launching in 2014, non-profit organisation (NPO) GirlCode has empowered 100 000 women and girls with ICT skills. So said Tinyiko Simbine, co-founder and CTO…
Last year, African Originals secured $2m in funding to support its ambitions to expand the business in Kenya and beyond Nairobi, Kenya | AGENCIES | When Alexandra Chappate, CEO and founder of Kenya-based craft beverage producer African Originals, started working in Africa’s drinks industry in 2015, she was struck by the huge unmet demand for…
Brazil — THE BRICS list now includes eleven full members. Six other countries, namely Egypt, Ethiopia, Iran, UAE, Indonesia and Saudi Arabia joined the original founding countries, Brazil, Russia, India, China, and South Africa. In July 2025, Saudi Arabia formally became a full member, marking another milestone in the history of the alliance. South African…
TLDR South African earned wage access startup Paymenow has clinched a ZAR400 million ($22.5 million) working capital facility from Standard Bank Founded in 2019, Paymenow provides employees with real-time access to earned wages, helping them avoid payday lenders and improve their financial wellness The Stellenbosch-based startup previously raised a ZAR250 million ($14 million) debt facility…
