Centum Investment-owned Two Rivers International Finance and Innovation Centre (Trific) has secured $47.5 million (Sh6.1 billion) funding from Africa-focused fund manager Vintage Capital to fuel its expansion plans. This investment will facilitate the construction of additional office towers and the furnishing of the already built Trific North Tower, enhancing workspace within Nairobi’s Gigiri area.
In a historic move, Eos Capital, managers of the Namibia Infrastructure Development and Investment Fund (NIDIF), has been granted permission to embark on the Namibia Space Port project. This project, led by Q-KON Namibia, marks a significant leap forward for the country in the realm of satellite communications.
A significant milestone in Africa’s digital journey was achieved as ICT and communications ministers across the continent approved the Continental Artificial Intelligence (AI) Strategy and African Digital Compact. These initiatives aim to unlock Africa’s potential in digital technologies and accelerate its digital transformation.
A milestone event unfolded as SINOMA Roofing Company, a leading Chinese roofing manufacturer, inaugurated a new factory in Machakos County, Kenya. This facility is set to revolutionize the roofing industry by offering affordable, eco-friendly, and durable materials to the Kenyan market.
Ampersand and BYD have signed a groundbreaking Memorandum of Understanding to collaborate on decarbonising Africa’s commercial motorbike transport system. This strategic partnership will see Ampersand, the leading EV energy tech company based in Kigali, purchase BYD’s high-tech battery cells to manufacture around 40,000 electric motorcycles by the end of 2026. The long-term goal is to electrify a substantial portion of Africa’s 30 million commercial motorbikes, driving sustainable growth across the continent.
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.
