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How Africa Internet Group Became Africa’s First Venture Capital-Backed Business to Be Valued at $1 Billion
Africa Internet Group (AIG), parent company to e-commerce brands like Jumia and Jovago, has become Africa’s first venture capital-backed business to be valued at $1 billion dollars after an $83 million investment from insurance company AXA for an 8% stake.
- Categories
- Investing
- Region
- Sub-Saharan Africa
- Tags
- venture capital
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Angola Faces Health Crisis as Oil Price Drop Leads to Cutbacks
When a plunge in oil prices prompted Angola's government to slash public spending last year, street trader Antonio Simao Baptista had no idea it would leave his rundown suburb overwhelmed by filth and disease.
- Categories
- Health Care
- Region
- Sub-Saharan Africa
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AstraZeneca Targets Africa Sales Boost
AstraZeneca Plc, the U.K.’s second-largest drugmaker, plans to increase sales in Africa by almost 10 percent a year as the company seeks to capitalize on efforts by governments to improve health-care systems and fight conditions such as high blood pressure and cholesterol.
- Categories
- Health Care
- Region
- Sub-Saharan Africa
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Reserve Bank of Zimbabwe Approves Adoption of Agent Banking
The Reserve Bank has approved the adoption of agent banking by financial institutions as part of efforts to increase access to financial services, governor Dr John Mangudya said.
- Categories
- Uncategorized
- Region
- Sub-Saharan Africa
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WorldRemit Raises $45M to Tackle $600B Market
Remittances start-up WorldRemit has raised $45 million in debt to help it tap the business of using mobile wallets to send money across emerging markets.
- Categories
- Technology
- Region
- Sub-Saharan Africa
- Tags
- fintech, remittances
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African Equity Crowdfunding Portal Launches Call for Applications
Impact-focused equity crowdfunding portal Malaik has launched a call for applications to African entrepreneurs with impact focused businesses, aiming to help connect businesses with investors.
- Categories
- Investing, Technology
- Region
- Sub-Saharan Africa
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Move Over Facebook: WeChat Is Set to Become the Only App African Internet Users Need
As technology hubs from Silicon Valley to Bangalore work hard at devising digital approaches to finance that could alter the global banking landscape, mobile banking penetration in China has already exceeded390 million people. And for Chinese-owned Tencent Holdings, the world's fifth largest Internet company, China's 1.3 billion-strong market is just the beginning. The tech giant's best-known social network, WeChat, is fast gaining traction in Africa, and mobile banking is one area in which its influence is spreading.
- Categories
- Technology
- Region
- Sub-Saharan Africa
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Future Looks Gloomy for Ghana’s Microfinance Institutions
THE future looks gloomy for Ghana’s microfinance institutions as the country’s central bank cracks the whip on fly-night lenders that have mushroomed across the country.
- Categories
- Uncategorized
- Region
- Sub-Saharan Africa
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