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Author: Fred Kennedy
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Ampersand Raises Capital to Accelerate Electric Motorcycle Expansion in East Africa
Ampersand, a Rwandan electric motorcycle firm, has secured a fresh funding round to grow its operations across East Africa.
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Africa’s Energy Deficit: 600 Million People Still Lack Electricity
Nearly half of Africa’s population, about 600 million people, remain without electricity in 2024.
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Kenya’s HoneyCoin Raises $4.9 Million to Fuel Global Payments Expansion
HoneyCoin, a Nairobi-born payments orchestration platform, has secured $4.9 million in seed funding.
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FMO and AfDB’s SEFA Commit €17.2 Million to Dédougou Solaire’s 18 MW Solar Plant in Burkina Faso
Dédougou Solaire has secured €17.2 million to build and operate an 18 MWp solar power plant in Dédougou, Burkina Faso.
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African Development Bank to Invest $500 Million in Ethiopia’s $10 Billion Mega Airport
The African Development Bank (AfDB) has announced plans to contribute $500 million, pending board approval, toward the construction of a new international airport in Ethiopia.
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Chowdeck Secures $9 Million to Accelerate On-Demand Delivery in Nigeria and Ghana
Lagos-based delivery startup Chowdeck has secured $9 million in Series A funding to extend its reach into more cities across Nigeria and Ghana and to accelerate its quick-commerce strategy.
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Sahel Capital Extends $590,000 Loan to Support Cashew and Cocoa Aggregator in Nigeria
Sahel Capital, a specialist investment manager in sub‑Saharan Africa’s food and agriculture sectors, recently provided a loan of $590,000 to Rasad Nigeria through its Social Enterprise Fund for Agriculture in Africa (SEFAA).
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Visa Selects 22 African Fintechs for its Fourth Africa Fintech Accelerator Cohort
Visa, a global payments powerhouse, has selected 22 fintech startups to join the fourth edition of its Africa Fintech Accelerator.
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IMF: Sub-Saharan Africa’s Economy to Grow by 4.0% in 2025, Adding $3.6 Billion in Output
The International Monetary Fund (IMF) has released its July 2025 update on the global economy. For Africa, the outlook is cautiously optimistic.