Finance

New financing initiative to support Singapore firms entering Africa

Afrieximbank and ESG join hands to provide up to S$50m in funding

Published on 27 Oct 2024

Singapore trader secures US$25m to scale up Agri-processing in Africa

Robust International gets new funding to boost sesame and cashew processing capacity

Published on 26 Sep 2024

Ethiopia lifts currency controls

The Ethiopian birr falls 90% against the US dollar as liberalisation brings economic promise and inflation risks

Published on 27 Aug 2024

Nigeria to host new Africa Energy Bank

With a US$5bn starting capital AEB could compensate for the scaling down of capital in African fossil fuel projects

Published on 19 Jul 2024

South Korea steps up engagement with Africa

Billions of dollars in financial aid and investment commitments made as Seoul prioritises critical minerals at the first Korea Africa Summit

Published on 27 Jun 2024

Rocky road ahead for the ZiG

US dollar expected to remain dominant despite efforts to promote the new gold-backed currency in Zimbabwe

Published on 28 May 2024

No end to the funding winter for start-ups in Africa

While the number of US$1m+ deals continued to pick up, investments on the continent were at a 3-year low in Q1 2024

Published on 22 Apr 2024

Johannesburg Stock Exchange to start trading carbon credits

African carbon credits have grown 36% annually in the past five years

Published on 25 Mar 2024

IFC to invest US$25m in the Singapore-based commodity trader Valency International

Investment will offset risk in procurement of agricultural commodities from Africa

Published on 28 Feb 2024

Singapore-based South African digital bank records first profit

TymeBank turns profitable in under five years with unique distribution model

Published on 25 Jan 2024

Ethiopia to launch stock exchange in 2024

ESX promises new funding source for business while facilitating the privatisation of state-owned enterprises

Published on 11 Dec 2023

Japanese VC buys stake in a British Africa-focused fund

The US$40m investment by SBI Holdings in Novastar Ventures shows increased Japanese interest in African start-ups

Published on 09 Nov 2023

Funding winter in Africa continues to worsen

After another quarter of decline, the level of funding raised by African start-ups is now at a three-year low

Published on 24 Oct 2023

South Korea pledges US$28.6m to boost African power sector

This new funding complements an earlier US$600m co-financing agreement with the African Development Bank (AfDB)

Published on 26 Sep 2023

ADB and AfDB strike a US$1bn sovereign risk swap deal

The landmark agreement will allow the two development banks to diversify lending portfolio

Published on 28 Aug 2023

Temasek firm to generate carbon credits through Ghana project

GenZero to invest in a US$30m landscape restoration project

Published on 20 Jul 2023
Woman working on some programming dashboard on laptop

Singapore tech firm powers new Islamic bank in Ethiopia

Rammis Bank implementing Azentio software to service the sizeable Muslim population of the country

Published on 20 Jun 2023

Sumitomo invests US$36.5 million in Kenyan fintech firm M-KOPA

The micro financier has provided more than US$1bn in credit to the unbanked in Africa

Published on 23 May 2023

Tolaram’s Lagos Free Zone issues US$38m bond for further expansion

The 20-year corporate bond shows that domestic institutional investors have the ability to finance critical infrastructure in Nigeria

Published on 18 Apr 2023

Singapore firm launches fund for energy-efficient cookstoves in Africa

Fund to generate returns by selling carbon credits from reduced emissions and deforestation

Published on 23 Mar 2023
new naira notes

New banknote swap wreaks havoc on business in Nigeria

Demonetisation causes cash shortage and disrupts everyday transactions days before Nigeria holds election

Published on 26 Feb 2023
business women with folders and documents writing ideas on whiteboard

Singapore-based impact fund raises US$50bn to invest in women-focused businesses in Africa and Asia

Women’s Livelihood Bond by IIX targets small mature Kenyan firms

Published on 30 Jan 2023

High finance costs crimp cross border trade in West Africa

Only ten banks provide 70% of trade finance in the region

Published on 26 Dec 2022
Stock Charts during a live trading session

Seven African stock exchanges linked together on a single trading platform

Investors from one African country will now be able to buy stocks of another through a single intermediary

Published on 28 Nov 2022
Cryptocurrency golden bitcoin

Singaporean crypto platform raises US$18m as it expands in Nigeria

Stiff capital control and weak domestic currency is facilitating cryptocurrency adoption

Published on 25 Oct 2022

Toyota Tsusho to invest in African venture capital fund VKAV

Japanese investors eye Africa as Tokyo seeks to strengthen ties

Published on 26 Sep 2022
woman using an atm machine and a credit card

Singapore-based Thunes facilitates remittance payments to Morocco

Agreement with Attijariwafa bank allows for faster and cheaper cross-border transfers

Published on 22 Aug 2022

Zimbabwe introduces gold coins to stem inflation

Measure aimed at shoring up confidence in the economy and stop the hoarding of US dollar

Published on 25 Jul 2022
man with payment terminal and customer with smartphone

Africa becomes a leader in digital payment transactions

It now accounts for 70% of all mobile money transactions across the world

Published on 22 Jun 2022

Central African Republic makes bitcoin legal tender

The move signals growing acceptance of cryptocurrency in Africa

Published on 23 May 2022
or customer at bank office

Major European banks are quitting Africa

Their exit leaves a void in the retail market for other banks to fill

Published on 25 Apr 2022

Kenya and Tanzania woo Sharia compliant investments from the UAE

The US$375bn Islamic finance market in Africa is primed to attract Muslim investors

Published on 22 Mar 2022

Process to unify war-torn Libya's central bank gets underway

If successful, it could unlock billions of dollars in oil revenue and stabilise the country

Published on 22 Feb 2022

Mobile telecoms operators entering banking sector in Nigeria

The anticipated entry of Airtel Africa and MTN in the banking sector could be a shot in the arm for financial inclusion

Published on 08 Dec 2021

MTN rides the tech IPO wave with share sale in Uganda

A number of African technology firms have listed their shares this year

Published on 30 Nov 2021

Nigerian digital currency to stimulate growth

eNaira could save the cost of managing physical cash.

Published on 18 Nov 2021

Sanlam and MTN enter strategic alliance to sell insurance

The deal is expected to give the unbanked access to insurance services.

Published on 25 Oct 2021
Concept of growing financial investment with copy space.

Japanese VCs targeting Africa

African startups are starting to get some serious investments.

Published on 24 Sep 2021
Man putting credit card in atm machine

The transformation of Africa’s financial sector

Africa’s financial sector is undergoing something of a makeover. The change will determine how dynamic the continent’s economy will eventually turn out to be.

Published on 05 Mar 2021
Businessman making payment, holding credit card and phone

Fintech in Africa

Innovation in the financial services sector in Africa has created new opportunities.

Published on 31 Mar 2021