Finance
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 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
Insights
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
Bonds
The Arab African International Bank (AAIB), based in Egypt, has launched a groundbreaking $500 million sustainability bond. Why does this matter: This marks Egypt's first and only sustainability bond, highlighting the country’s increasing dedication to sustainable development and the transition to renewable energy. The fund mainly focuses
Nigeria has made a notable return to the international capital markets after more than two years of absence, launching a $2.2 billion Eurobond issue to secure funding that addresses its fiscal deficit. Why does this matter: This move aligns with a trend in several other African countries, including Ivory
IHS Holdings Limited, the largest independent owner, operator, and developer of shared telecommunications infrastructure in Africa has successfully raised an impressive $1.2 billion through an oversubscribed issuance. This funding milestone underscores the rapid expansion of Africa's digital landscape, where the demand for connectivity and infrastructure is increasingly
Industries
JBS SA, headquartered in Brazil and the world's largest meat producer, plans to invest approximately $2.5 billion to establish its first meatpacking facilities in Africa. Why does this matter: The outlook for JBS's operations in Nigeria is promising, given that Nigeria ranks as Africa'
Infrastructure Finance
Africa’s largest pension fund South Africa's Government Employee Pension Fund has divested from its holdings in the pioneering African Infrastructure Development Fund, a along with other prominent investors, including Absa Bank Ltd and Old Mutual Ltd. Why does it matter: The African Infrastructure Development Fund has been
Industries
The OPEC Fund, the development finance institution for the Organisation of the Petroleum Exporting Countries (OPEC) member states, has entered into a $40 million loan agreement with ETC Group, a prominent agriculture and supply chain operator in Africa. Why does this matter: The loan is the OPEC Fund's
Trade Finance
British International Investment (BII) has recently formalised a substantial agreement to establish a $150 million trade liquidity program in collaboration with South Africa's Absa Group. This strategic initiative is timely as African economies strive to transition from a reliance primarily on the export of unprocessed natural resources to
Insights
Insights