Category: Business

The lead climate negotiator for Africa has reportedly stated that African countries are calling for a new mechanism to track funds from affluent nations that are failing to achieve an annual $100 billion commitment to help emerging economies combat climate change. According to reliable sources, the

American ride-sharing firm, Uber is reportedly testing its new service called, Pool Chance, in Africa which will enable riders heading in the same direction to share the cost on their journey. The service is being introduced in Africa for the first time and is like UberPool, which was launched in S

Emirati multinational logistics company, DP World and the UK government’s CDC Group have joined forces to expand African ports, with plans to invest around $1.72 billion in the next several years. As per reports, the companies will be initially investing in ports of Sokhna (Egypt), Berbera (S

African fintech startup, Mono has reportedly raised USD 15 million in a Series A funding round led by Tiger Global, making it the venture capital firm’s third investment in Africa in 2021 after FairMoney and Flutterwave. The round witnessed the participation of new investors like SBI Investme

The Japan International Cooperation Agency (JICA) has reportedly invested around USD 2.5 million in Sanergy Inc., a U.S. sanitation startup in Nairobi that utilizes flies to process biowaste. The Japanese government agency intends to address the rising sanitation needs in Nairobi and also assist far

African film industries are reportedly slated to grow four times in revenue to $20 billion (£15 billion) and generate 20 million more jobs in creative industries, as per a report by the UN Educational, Scientific and Cultural Organization (UNESCO). For the unversed, the cinema industry in Nig

Development Partners International (DPI), a leading investment entity focused on Africa, has announced that the African Development Partners III Fund (ADP III) has surpassed its target of USD 800 million and is expected to hold a final close at USD 900 million with an added USD 250 million of co-inv

West Africa’s cocoa giants are preparing for another big harvest, with a focus on whether the demand recovery after the COVID-19 pandemic can absorb the oversupply from last year. The main-crop harvest started on Friday in Ivory Coast and will begin next week in Ghana. Notably, these are the

Andela, a startup that helps engineering talent in Africa get connected with global firms, has become the  newest unicorn in Nigeria after receiving $200 million from investors. The firms latest funding round was headed by a Japanese tech investor SoftBank Group Corp., with additional particip