MTN Nigeria processes $175.5 billion in Fintech transactions.
MTN Nigeria processes $175.5 billion in Fintech transactions.
Also, Helios secures Africa’s first ESG-linked capital call facility, InstaDeep raises $100 funding.
Also
A weekly roundup of news, trends, and insights for you the time-conscious Africa-focused business executive finance professional, founder, entrepreneur, and policymaker.
Subscribe to be notified of each edition.
MTN Nigeria processes $175.5 billion in Fintech transactions.
MTN Nigeria Q3 2021 earning release highlighted some interesting insights. Its number of active data users increased by 2.5million to 33.2 million. Its data revenue grew by 51.5% and the value of transactions increased by 67.2 % to $175.5 billion with the average volume of transactions processed via its fintech up by 29.6% and the total value of merchant payments rose by 46.5% YoY to US$8.1 billion.
Why is this important? These figures show that MTN is not just a telecoms provider but increasingly becoming a Fintech player. The figures were largely driven by the increase in digital entertainment, rise in working from home, and the high adoption of digital education services due to COVID-19. With the rise of African unicorns, telecoms like MTN are becoming active players in the Africa Fintech ecosystem.
2) Helios secures Africa’s first ESG-linked capital call facility
Africa-Focused Private Investment Company Helios Investment Partners has secured an ESG-linked capital call facility for Helios Investors IV, L.P. (“Helios IV” or the “Fund”). Rand Merchant Bank and Standard Chartered Bank acted as Arrangers and Sustainability Coordinators.
Why is this important? ESG investing is growing globally as investors become more interested in companies looking to uphold great values while being profitable. This presents huge opportunities for the current and next generation of African companies who need to be environmentally and socially aware while placing emphasis on lasting corporate governance but also focused on creating great and profitable products/ services.
Private Equity Deals :
Guaranty Trust Bank (Kenya) has received a $15 million loan from the International Finance Corporation (IFC). The loan will be used to support local lending to businesses in Kenya.
Venture Capital Deals:
London and Tunis-based InstaDeep, an AI decision-making startup has raised $100 million led by Alpha Intelligence Capital and CDIB, with the participation of BioNTech, Google, and others.
M & A Activities:
JSE-listed Sabvest Capital and the Masimong group have jointly offered to acquire 37% of ARB Holdings shares not held by the Burkes, a 21.2% premium for $45 million.
Fundraising Events:
The International Monetary Fund (IMF) has approved $455 million in financing for the Republic of Congo as part of a 3-year extended credit facility (ECF) agreement.
GuarantCo, part of the Private Infrastructure Development Group (PIDG), has approved a $25 million portfolio guarantee to Togo’s largest bank Orabank Togo.
Private Debt :
The Tunisian private debt vehicle, Inma Finance, has agreed on a financing agreement of $2.3 million with the Tunisian microfinance entity Enda Tamweel to finance micro-entrepreneurs as well as very small Tunisian companies (VSEs).
Land’Or Maroc Industries (LMI) has secured a $3.97 million loan from the European Bank for Reconstruction and Development (EBRD) to grow its Kenitra cheese plant.
Thanks for reading the Africa Finance Review. Please send us any feedback, news, or suggestions to info@africafinancereview.com. Please ask your friends and colleagues to subscribe.