Immobazyme, a biotechnology start-up based in Stellenbosch, has announced a significant milestone with the securing of $1.3 million (R24.5m) in its latest funding round. Known for its enzyme immobilisation platform and precision fermentation technologies, Immobazyme plans to utilize this funding to expand its operations, including doubling the size of its facility and enhancing production capabilities….
The Council of Ministers in Ethiopia has approved two crucial draft proclamations as part of the National Bank of Ethiopia’s (NBE) economic reform agenda. Under the new Banking Business Proclamation, foreign banks can now invest in the Ethiopian banking sector by opening subsidiaries, branches, or investing in existing domestic banks. This move is set to enhance competition, improve service delivery, and stimulate economic growth in the country.
Ukheshe has officially rebranded to EFT Corporation, marking a significant step forward in the evolution of financial technology across Africa. The rebrand follows Ukheshe’s acquisition of EFT Corporation in January 2024, consolidating their expertise and resources under one unified brand to lead the charge in financial inclusion on the continent.
Esther Kimani has been named the winner of Africa’s biggest engineering prize, the Royal Academy of Engineering’s Africa Prize for Engineering Innovation. Her early crop pest and disease detection device stood out for its ability to swiftly detect and identify agricultural pests and diseases, significantly reducing crop losses for smallholder farmers by up to 30% while increasing yields by as much as 40%.
Farada Group, a Polish manufacturer of drones, is set to establish a drone manufacturing company in Kenya, marking a significant step in the expansion of its operations across Africa. Adam Cudny, Chairman of Farada Group, announced that the new drone plant will be located at Konza Technopolis, serving as a hub for drone production and innovation in the region.
Africa Data Centres has secured approximately $108.9 million in funding to expand its data centre capacity, meeting the growing demand for cloud computing services in South Africa. This significant funding milestone was facilitated through a bespoke financing solution arranged by RMB, demonstrating the strong confidence in the South African data centre market.
Airtel Africa has successfully activated the 2Africa submarine cable system, linking Kenya, Tanzania, and South Africa. This monumental achievement is part of one of the largest subsea projects globally, designed to interconnect Africa, Europe, and Asia, enhancing digital connectivity across the continents.
ICP Hub Kenya has announced a strategic partnership with crypto payments startup Kotani Pay as part of the Olympus Accelerator Programme. This collaboration aims to leverage their unique strengths and resources to drive blockchain technology adoption and empower Web3 developers in East Africa.
