AIC News

The World Bank Board today approved $40 million from the International Development Association (IDA)* to promote the development of inclusive, resilient, and competitive agricultural value chains, with specific focus on smallholder farmers and agribusinesses in The Gambia. 

ARC Financial Services, a subsidiary of billionaire Patrice Motsepe’s African Rainbow Capital, has entered into agreements to acquire Crossfin Technology Holdings, as part of a consortium led by the Ethos Mid-Market Fund I, in a transaction valued at R1.5 billion. 

dnata, a leading global air and travel services provider, has signed a concession agreement with The Government of Zanzibar, along with Emirates Leisure Retail and SEGAP, a joint venture between airport infrastructure and operations specialists Egis, and private equity fund manager AIIM. 

Ecobank Group, the leading pan-African banking group, has signed an agreement for a 100 million Euros long-term credit facility over 9 years with the European Investment Bank (EIB).

The Africa Investment Forum’s Market Days 2021, an initiative of the African Development Bank (AfDB), is poised to attract billions of dollars in investment for strategic development projects across the continent. 

The eighth edition of the Forum on China-Africa Cooperation (FOCAC) is due to be held in Dakar, Senegal, from 29-30 November 2021.

France’s TotalEnergies Italy’s Eni say they are ready to invest billions of dollars in Libya as the Opec nation emerges from a decade of conflict and civil war.

: “We need to see the African market as one. We need to be able to develop giants like Airbus which makes components in the United Kingdom, France and other parts of Europe.

Mobiz, a South African startup integrating hyper-personalization into mobile marketing, has raised a pre-Series A round of $ 4 million from HAVAÍC, Futuregrowth, Launch Africa, Allan Gray E-Squared Ventures, CapaciTech and Endeavor’s Harvest Fund.

Economists say China’s model of investment in Africa is gaining public support, despite the debt burden it imposes on many countries.