Insights
Venture Capital
Africa’s First Fund Returners
Qui Capital, an early-stage investor in Africa, has achieved a rare feat by returning its $4 million inaugural fund to its limited partners after successfully selling some shares in Moniepoint, an African fintech unicorn. Why does this matter: In the global investment community, it is rare for first-time funds to
Merger and Acquisition
African-born Moove Goes Global with Brazil’s Kovi Acquisition
Moove, the African mobility fintech company offering revenue-based vehicle financing, ride-hailing and delivery apps across Africa, has acquired Kovi, an urban mobility startup based in São Paulo. Why does this matter: This acquisition aligns with Moove’s ambitious plan to expand into high-growth markets beyond Africa following its Series B
Briefings
This Week in Africa Finance
Your weekly essential briefing on African finance. Sign up for our free weekly newsletter to access exclusive insights designed for Africa-focused finance professionals, business leaders, international institutions, and policymakers. Good day. In today's email : The Demand for an African Credit Rating Agency, Guan Chong Berhad Acquires 25% of
Ratings
The Demand for an Africa Credit Rating Agency.
The African Development Bank, Prosper Africa (a U.S. presidential initiative), and the United States Department of the Treasury have agreed to create an African online credit rating data platform with a $700,000 grant. Why does this matter : Several African countries have recently been accessing international credit markets to
Finance
Guan Chong Berhad Acquires 25% of Transcao Côte d’Ivoire for $28.9m.
Guan Chong Berhad (GCB), a Malaysia-based cocoa manufacturer and the fourth-largest cocoa grinder globally, is poised to acquire a 25% stake in Transcao Côte d’Ivoire (Transcao CI), a Côte d'Ivoire -based cocoa manufacturer, for a sum of US$28.9 million. Why does this matter: Côte d&
Analysis
The $71.6m African Cultural Phenomenon
Lagos, Nigeria's economic and entertainment capital, has set an example for many African cities to boost their tourism industry, as demonstrated by the recently concluded Detty December. Why does this matter: Despite high inflation and a soaring cost of living, the month-long event generated $71 million, which underscores
Ratings
Moodys Takes Positive View on Sub-Saharan Africa's Growth Prospect.
Moody's has expressed a positive outlook on sub-Saharan Africa's growth prospects, emphasising the significance of energy and infrastructure investments in supporting the region's economic development. Why does this matter: South Africa is prioritising infrastructure development in the energy, water, and transport sectors to enhance
Finance
African Sovereign Dollar Bond Yields Reach Record High.
Yields for Africa Sovereign Dollar Bonds, tracked by the Standard Bank Africa Sovereign Yield Index, have reached a record high of 9.15%, according to Bloomberg. Why does this matter: In recent years, African nations have increasingly turned to the Eurobond market to secure funding needed to address budgetary shortfalls
Finance
TymeBank Joins Exclusive African Unicorn Club with $250million Series D Funding
South Africa's Tyme Bank has achieved the coveted status of African Unicorn after raising $250 million in Series D funding, reaching a valuation of $1.5 billion. Why does this matter: Most of Africa's unicorns have emerged from the fintech sector, as these startups address the
Finance
Guinea To Establish Sovereign Wealth Fund (SWF)
Guinea is set to join a growing list of African countries, establishing a Sovereign Wealth Fund (SWF). Why does this matter: Guinea is home to some of the world's largest and highest-grade iron ore reserves. As the government works to monetise these resources, it plans to invest the
Insights
Middle East Investors Show Growing Interest in African Deals.
Middle Eastern investors are increasingly focusing on investment opportunities in Africa. Why does it matter: This strategic shift is mainly due to the continent's rapid economic growth and demographic advantages, which include a youthful population, significant urbanisation, a growing middle class, and an improving business environment for foreign