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Amethis launches $490 million pan-African fund targeting African companies.

Key Developments

Amethis launches $490 million pan-African fund targeting African companies

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Private equity firm Amethis has launched a $490 million pan-African fund to support high-potential companies across the continent.

With a track record of over 25 investments in 14 countries, Amethis has already significantly impacted Africa’s private equity landscape. The new fund will enable the firm to continue supporting entrepreneurs and businesses, making a difference in Africa’s future. The $490 million fund will focus on investing in high-growth sectors such as healthcare, education, financial services, and consumer goods. Amethis’ latest move comes at a time Africa’s private equity market is rapidly evolving, with the pan-African fund a clear demonstration of the firm’s commitment to driving sustainable socio-economic development on the continent.

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Zembo

StartUp Spotlight

Zembo is spearheading e-mobility revolution in Uganda

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This week we feature Uganda’s Zembo in our startup spotlight.

Zembo is an exciting e-mobility startup that is based in Kampala, Uganda. The startup was founded in 2018 with a vision to revolutionize the transportation sector in Uganda and beyond. Since its inception, Zembo has been at the forefront of promoting sustainable transportation and reducing carbon emissions through its fleet of electric motorcycles. Zembo’s electric motorcycles are designed to meet the needs of the urban commuter in Uganda as they are reliable, efficient, and affordable, making them an excellent alternative to traditional gas-powered motorcycles.

The startup’s business model is built around providing affordable transportation services to commuters in Kampala. The company has received recognition for its innovative approach to sustainable transportation, having previously won the Uganda National Social Entrepreneurship Award, which recognizes businesses that create social and environmental impact.

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Tanzania’s Kakono gets $300 million to deliver clean energy

Key Developments

Tanzania’s Kakono gets $300 million to deliver clean energy

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Powering up Tanzania: The African Development Bank Group, the French Development Agency (AFD) and the European Union (EU) have teamed up to invest $300m in Tanzania’s Kakono hydropower plant.

The Kakono will be a run-of-river hydropower project with an annual energy-generating capacity of 573GWh. The project, expected to be operational by the end of 2026, will generate clean energy for up to 4 million people. This investment will not only benefit Tanzania but also contribute to the sustainable development of the region.

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