Vodacom Group CEO Shameel Joosub Vodacom has lowered the floor on its dividend payout policy, cutting it to at least 65% of headline earnings from at least 75% previously, in a change disclosed alongside first-quarter trading numbers and the completion of its long-awaited Safaricom transaction. The shift is significant for a counter widely held by…
Google Play today launched its first Indie Games Fund, committing $1 million to support rising, innovative game studios from across 32 countries in Africa to scale their games and reach a global audience. The fund provides equity-free capital, technical support, and expert mentorship empowering African game developers with the skills and resources they need to…
South African investment firm Stocks & Strauss closed its University Technology Fund II at ZAR400 million, or about $24 million, to back startups linked to local universities and alumni networks. The close brings total capital across the firm’s university-linked early-stage investment platform to more than ZAR700 million. The platform is designed to help commercialise innovation…
Wars regularly make headlines. Preventing them rarely does. Yet for the past 20 years, the UN Peacebuilding Fund (PBF) has quietly been helping countries to avoid violence, recover from conflict and build more peaceful futures for their citizens. Today, it’s the UN’s main vehicle for investing in peace before crises spiral out of control. As…
Holocene closed its first venture fund, marking the final close of what it describes as Southern Africa’s first dedicated high-growth climate tech fund. Holocene Ventures Fund I backs early-stage founders building climate-focused companies across the region. The firm targets startups that need capital and operational support to reach scale in areas such as circular economy,…
Cascador deployed more than $5 million into 7 African startups at its second annual pitch day, as the growth-stage founder platform expands funding for companies with social impact. The Africa-focused platform launched its Catalytic Fund last year as a $2 million annual initiative to support alumni companies. Since its founding in 2019, Cascador has supported…
A Treasury fund could allow the Trump administration to pay Jan. 6 rioters. A Florida surgeon’s previous errors come to light after he accidentally removed a patient’s liver. And a new report is expected to show job growth in May. Subscribe to read this story ad-free Get unlimited access to ad-free articles and exclusive content….
The indicative commitment follows the strong performance of RSSB-anchored Virunga Africa Fund I The International Finance Corporation (IFC), the private sector arm of the World Bank Group, is considering a major investment in Virunga Africa Fund II, a new $500 million growth equity fund managed by Kigali-headquartered Admaius Capital Partners. According to project information disclosed…
The Blackstone headquarters in New York, US, on Wednesday, July 17, 2024. Bloomberg | Bloomberg | Getty Images Blackstone said Tuesday it had raised $13.1 billion for its latest Asia private equity fund, marking its largest PE fundraise in the region. The alternative asset manager said that Blackstone Capital Partners Asia III exceeded its $10…
Daniel Yu, co-founder of Wasoko, launched the Africa Jobs Fund, a philanthropic investment fund seeking to mobilise $100 million over the next 5 years to back companies creating jobs across Africa. The fund will focus on export manufacturing and international labour mobility. It says those 2 sectors can help African workers move from informal or…
