TotalEnergies has recently signed an agreement with Bujagali Energy Ltd to invest in key energy projects, focusing on renewable energy. The deal includes acquiring a 28.3 percent stake in the Bujagali hydropower plant, located in Jinja, Uganda, which plays a crucial role in meeting the country’s electricity demands with its 250 MW capacity.
Cartona, an Egypt-based B2B e-commerce platform, has successfully raised $8.1 million in a Series A extension round led by Algebra Ventures. This latest financing round saw significant contributions from existing investors Silicon Badia and the SANAD Fund for micro, small, and medium enterprises, alongside Camel Ventures and GlobalCorp, which provided $2.5 million in debt and $5.6 million in equity, respectively.
Open Startup, a leading non-governmental organization dedicated to fostering innovation and entrepreneurship, has launched a new cohort for its investment preparation program, GROW. This initiative is designed to support advanced African start-ups in scaling their businesses and securing financing. Building on the success of the previous year’s cohort, which guided 13 start-ups selected from over 600 applications, GROW continues its mission to assist African start-ups in achieving significant growth.
Vodacom Lesotho has proactively advanced data security and management within the mountain kingdom by hosting a comprehensive data protection and management workshop. This full-day event, attended by representatives from the Lesotho Communications Authority, the Central Bank of Lesotho, and various industry players, focused on discussing industry best practices, regulatory compliance, and strategies for safeguarding consumer rights.
Absa Bank has embarked on an ambitious brand expansion strategy, focusing on regional towns for new growth. The bank has recently opened its latest branch in Rupa’s Mall, Eldoret, marking its 85th branch in Kenya. This expansion will provide customers with access to a comprehensive range of services including transactional accounts, savings accounts, deposit accounts, Shari’ah-compliant solutions, and financial advisory services.
President William Ruto has officially launched Kenya’s first shariah-compliant bond, the ‘Linzi Sukuk,’ on the Nairobi Securities Exchange’s (NSE) Unquoted Securities Platform (USP). This groundbreaking initiative aims to finance the development of 3,069 affordable housing units, addressing a critical need for accessible housing in the country.
The US and Nigeria have taken a significant step towards enhancing data security and Artificial Intelligence (AI) innovation by signing a memorandum of understanding. This pivotal agreement aims to establish the US-Nigeria Commercial and Investment Partnership, fostering collaboration and growth in the digital economy.
Google has announced the expansion of its Wildfire Boundary Tracker to 17 new countries, including Kenya, significantly enhancing global efforts to combat the growing threat of wildfires. This AI-powered tool is designed to provide communities with accurate and up-to-date information on wildfire boundaries directly through Google Search and Maps, offering crucial support in emergency situations.
