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 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 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 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 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 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 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 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 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 Japanese VCs targeting Africa African startups are starting to get some serious investments. Published on 24 Sep 2021 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 Fintech in Africa Innovation in the financial services sector in Africa has created new opportunities. Published on 31 Mar 2021
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