Breaze Delivery co-founders Avi Maja and Braden Snyman, with courier drivers. (Image: Supplied) The Vumela Enterprise Development Fund has invested R20 million in South African logistics technology company Breaze Delivery, providing growth capital to help the business expand its technology platform, driver network and geographic footprint. The investment, according to a statement, forms part of…
Mazen Mroué, CEO of MTN Digital Infrastructure MTN Group’s digital infrastructure arm has joined a US$45-million funding round in ORAN Development Company (ODC), a US-based start-up building AI-native radio access network technology, alongside Nvidia, Cisco, Nokia, AT&T and Telecom Italia. The series-A round, announced on Thursday, positions ODC to develop software that would transform conventional…
Helmut Reisinger, CEO of Palo Alto Networks in Europe, the Middle East and Africa Palo Alto Networks, the world’s largest pureplay cybersecurity company, said it is betting big on South Africa. The US company sees growth rates “way above” what it achieves at a global level, according to Helmut Reisinger, its CEO for Europe, the…
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…
FIFA President Gianni Infantino has announced that more than USD 1 billion has been invested in African football since the launch of the FIFA Forward Programme in 2016. Speaking at the 47th CAF Ordinary General Assembly in Kinshasa, Democratic Republic of Congo, Infantino reaffirmed FIFA’s commitment to developing football across the continent and inspiring Africa’s…
Abuja — China in Africa is not just about strategic infrastructure. The country’s presence on the African continent aims to create a partnership that will last for years and is different from other approaches, as it is focused on concrete needs such as healthcare. In this context, the announcement by the Chinese Ambassador to Nigeria,…
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…
TLDR The Japan International Cooperation Agency (JICA) has committed $10 million to Novastar Ventures’ Africa People + Planet Fund III That marks its first investment as a limited partner in an African venture capital vehicle The fund, also known as the Africa People and Planet Start-up Investing Project, supports early-stage companies that deliver social impact…
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…
