Dangote Group has unveiled an ambitious refinery expansion plan that will see its US$20 billion Lekki facility increase output to 1.4 million barrels per day within the next three years. This strategic move would make the Lagos-based refinery one of the largest single-site refining facilities in the world, significantly expanding its influence across the global…
Standard Chartered Uganda has reached a significant strategic milestone after entering into an agreement to sell its Wealth and Retail Banking business to Absa Bank Uganda. This move forms part of Standard Chartered’s broader global strategy to streamline operations and focus on areas where it delivers the strongest competitive advantage. The agreement, which is subject…
The United Nations, through the UNDP, UNCDF, and WRI, has launched a milestone initiative that is set to transform Kenya’s transport and agricultural sectors through climate-smart innovations. Central to this move is a five-year financing programme valued between $40 million and $50 million, designed to deploy 68,000 electric two- and three-wheelers nationwide. This landmark initiative…
Yaga has secured €4 million in pre Series A funding to accelerate its secondhand fashion marketplace across the Middle East and Africa, marking a significant step in advancing sustainable fashion in high growth markets. Led by Specialist VC with participation from H&M Group Ventures, Trind Ventures, Startup Wise Guys, and key angel investors, this funding…
The West African Development Bank (BOAD) has marked a historic milestone with the successful issuance of a €1 billion bond with a 15-year maturity, setting a new benchmark as the longest euro-denominated bond ever issued by an African Multilateral Development Bank. This groundbreaking achievement reflects strong investor confidence in BOAD’s strategic vision and financial resilience,…
Spiro has achieved a historic milestone in Africa’s mobility sector with a landmark $100 million investment round, the largest ever in the electric two-wheel segment. Led by The Fund for Export Development in Africa (FEDA), this funding recognizes Spiro’s dominant leadership in battery-swapping technology and its mission to accelerate the transition to clean, cost-effective transportation…
South African AI innovation is stepping onto the global stage as Locstat secures EUR2.5 million (US$2.3 million) in pre-Series A funding to accelerate its expansion into the United Kingdom and the European Union. This strategic investment, led by Portugal Gateway Fund (PGF) and ANZA Capital, will power Locstat’s go-to-market strategy and reinforce its position in…
Madica has taken a strategic leap in advancing Africa’s innovation landscape through its latest investment in two AI-powered startups from North Africa, expanding its mission to foster inclusive growth within underserved tech ecosystems. The selected startups, Anavid from Tunisia and Hypeo AI from Morocco, will receive up to $200,000 in funding and enter Madica’s intensive…
