AIC News

The United Methodist Church (UMC) has approved grants worth $3.5 million to promote agriculture as churches within its African conferences seek to become less dependent on Western funds.

The bank’s Sukuk offering, which is currently undergoing regulatory approvals, is expected to be launched soon, marking a historic shift from government-dominated Sukuk offerings to a fully private sector-oriented offering in the Nigerian debt markets.

African Export Import Bank (Afreximbank) has announced the disbursement of a $300 million Intra-African Investment Financing Facility to Titan Trust Bank (TTB) to support the latter’s acquisition of a majority stake in Union Bank Plc, Nigeria (UBN).

South Africa is well-established as one of the continent’s “big four” startup ecosystems, and leads the way for exits, with more than one-third of the acquisitions that have taken place across the African tech space since 2015 involving South African companies.

A year after the launch of its new Africa office, global clean-tech start-up incubator The Hatchery is basking in the success of HatchTWO. This is the company’s bi-yearly event which showcases innovation within its network.

Africa Data Centres, a carrier-neutral co-location data centre provider, has announced the building of a 30MW data centre facility in Accra, Ghana.

Total production from large- and small-scale producers declined from 4 million ounces in 2020 to 2.8 million ounces last year, mainly due to operations-related challenges, says the Ghana Chamber of Mines.

Namibia’s finance minister said uranium miners are waiting for prices to recover before reviving projects in Africa’s biggest producer of the ore, which is needed for nuclear power in a world shifting away from fossil fuels.

Laboremus Uganda, the B2B FinTech that enables onboarding at scale, has received a funding boost from DOB Equity and FCA Investments to grow the company’s FinTech platform in Uganda and neighbouring markets.

Nigeria Incentive-Based Risk Sharing System for Agricultural Lending (NIRSAL) has signed a memorandum of understanding (MOU) with the Credit Agricole Du Maroc (CAM) to promote inclusive growth and sustainable development of the agriculture sectors of both countries.