AIC News

Investment into the African tech startup ecosystem trebled over the course of a record-breaking 2021 that saw total funding pass the US$2 billion mark for the first time.

The project – the first in the continent to produce COVID jabs across every stage – is the latest in a series of initiatives seeking to redress Africa’s reliance on the West for vaccines.

The Government of Ghana has through the Trade and Industry Ministry signed a Memorandum of Understanding (MoU) with Rwanda to deepen bilateral trade relations between the two countries.

An Africa-focused technology fund has secured a USD 70 million close, with support from international banks, investors, and development finance.

TLcom Capital, the Africa-focused venture capital firm known to have made bets on Andela and Twiga, is raising $150 million for its second fund targeted at making early- and late-stage investments.

Angola will return to international capital markets this year to sell Eurobonds, finance minister Vera Daves de Sousa said on Monday, while the partial privatisation of state-oil firm Sonangol could take another two years. The southern African nation last issued dollar bonds in late 2019 to fund its ambitious reforms, but saw yields spike to […]

Almost 66 years after commercial oil discovery in Oloibiri Oilfield, the current wave of divestment hitting the nation’s oil and gas industry has been deemed necessary to allow smaller entities contribute to economic activities in areas that have become less attractive to international oil companies (IOCs).

The Federal Government, in collaboration with Pan-African Manufacturers Association (PAMA), has announced plans to boost intra-Africa trade currently at 13 per cent, noting that with African Continental Free Trade Agreement (AfCFTA) in full force, African governments must invest heavily in large-scale innovations and technology that would drive economic success and trade on the continent.

A fund operated by Ivory Coast-headquartered private equity investor Adiwale Partners has taken a minority stake in a Senegalese drilling services company which is targeting growth in West Africa.

Oracle opened a data centre in South Africa on Wednesday to provide local cloud services across Africa for the first time, joining the likes of Microsoft and Amazon in setting up facilities in the southernmost country on the continent.