Jumia has successfully closed the sale of 20 million ordinary shares, achieving its funding target of $99.6 million. The transaction, detailed in a recent securities filing, was completed with an average share price of approximately $4.95, slightly above Friday’s trading price. Notably, liquor and wine maker Pernod Ricard acquired 1.27 million shares valued at around $6 million.
The Malawi Communications Regulatory Authority (MACRA) has announced plans to address the significant digital divide in the country, where 40% of citizens currently lack internet access. To bridge this gap, MACRA is set to launch a local smart device assembly program aimed at producing affordable mobile phones. While no specific timeline has been provided, this initiative represents a crucial step towards enhancing digital inclusion in Malawi.
Local health startup Hewatele has secured $20 million (Sh2.5 billion) in financing to significantly scale up its medical oxygen production in Kenya. This investment, which includes both debt and equity, is aimed at increasing Hewatele’s oxygen production capacity from two tonnes to 20 tonnes per month. The funding will support the construction of a new liquid oxygen production facility, expected to enhance production and reduce costs for healthcare providers by up to 30 percent.
MetroTrans Investment Limited has made a significant investment of Sh103 million in the modernization of its fleet, acquiring 14 new Hino buses as part of its strategy to enhance public transportation services. These buses, locally assembled by CFAO Mobility Kenya and financed by Family Bank, are a testament to the company’s commitment to providing reliable and efficient transport solutions for Nairobi’s growing population.
Shelter Afrique Development Bank (ShafDB) and CPF Group have signed a Memorandum of Understanding (MoU) to accelerate the implementation of large-scale affordable housing projects in Kenya. This partnership aligns with ShafDB’s long-term goal of supporting member states through public-private partnerships, emphasizing the critical need for affordable housing solutions in the country.
Equity Group has announced the appointment of Mr. Moses Okoth Nyabanda as the Acting Managing Director of Equity Bank Kenya, following the early retirement of Mr. Gerald Warui. Mr. Nyabanda, who currently serves as the Group Chief Finance & Strategy Execution Officer at Equity Group Holdings Plc, will assume his new role pending approval from the Central Bank of Kenya.
