Category: Key developments

Posted on by — Leave a comment

Madagascar gets $227 million from World Bank and the French Development Agency to boost climate-smart agriculture

Key Developments

Madagascar gets $227 million from World Bank and the French Development Agency to boost climate-smart agriculture

| Article

The World Bank and the French Development Agency (Agence Francaise de Development) are providing $227 million in financing to Madagascar to help the country boost its climate-smart agriculture sector.
 

The financing will improve agricultural productivity and resilience to climate change, strengthen agricultural value chains, and enhance access to markets and financial services for farmers, among others. Madagascar’s agricultural sector is particularly vulnerable, as it relies heavily on rain-fed crops.

 

The financing from the World Bank and the AFD will help the country to implement climate-smart agriculture practices, such as using drought-resistant crops and planting trees to protect soil and water resources. This will help to boost agricultural productivity and resilience to climate change, and it will also help to improve food security and livelihoods in Madagascar.

 

The financing is part of the World Bank’s $1.2 billion Country Partnership Strategy for Madagascar, which aims to support the country’s development goals in agriculture, energy, health, education, and governance.

Related Articles

Register Now

Empower Africa Times Newsletter

Share :

You may also like...

Posted on by — Leave a comment

Khazna Data Centers and Benya Group team up to build a $250 million state-of-the-art data centre in Egypt

Key Developments

Khazna Data Centers and Benya Group team up to build a $250 million state-of-the-art data centre in Egypt

| Article

Khazna Data Centers and Benya Group have teamed up to build a $250 million large-scale data center in Egypt
 

The project aims to establish one of the largest data centres in the region, equipped with state-of-the-art facilities and cutting-edge technology.

 

The collaboration promises to unlock vast possibilities for Egypt’s booming digital economy and strengthen the nation’s position as a regional technology hub. With data consumption skyrocketing, this expansive data centre will cater to the escalating needs of businesses, organizations, and individuals, offering secure and reliable data storage and processing capabilities.

 

The centre will have a capacity of 25 megawatts (MW) that is expected to double to 50 MW as expansion plans are implemented. The project aims to meet the region’s underserved data markets.

 

Related Articles

Register Now

Empower Africa Times Newsletter

Share :

You may also like...

Posted on by — Leave a comment

Global tech firm TELUS International expands operations to Africa

Key Developments

Global tech firm TELUS International expands operations to Africa

| Article

TELUS International, a leading digital customer experience innovator, has announced the expansion of its global operations to Africa.

The company has established operations in South Africa and Morocco and plans to add additional regional locations over the next several years. The expansion into Africa is part of TELUS International’s growth strategy, which is focused on providing high-quality customer experience solutions to global brands.

 

The company’s new locations in Africa will provide it with access to a large pool of talented and multilingual workers and a strategic location for serving customers in Europe, the Middle East, and Africa. The expansion of TELUS International to Africa is expected to bring several benefits to the region, including the transfer of technology and skills. The expansion is also expected to positively impact the African digital economy’s development.

.

 

Related Articles

Register Now

Empower Africa Times Newsletter

Share :

You may also like...

Posted on by — Leave a comment

M-Kopa secures $250 million in one of Africa’s biggest tech fundraisings

Key Developments

M-Kopa secures $250 million in one of Africa’s biggest tech fundraisings

| Article

M-KOPA, a pioneering company in the field of asset financing and renewable energy solutions in Africa, has secured over $250 million in a combination of debt and equity funding

M-KOPA’s asset financing platform has revolutionized access to essential goods and services in underserved African communities by leveraging mobile technology and innovative financing solutions. The firm enables its customers to acquire solar energy systems, smartphones, and other life-changing products through flexible payment plans.

 

The debt and equity funding will fuel M-KOPA’s ambitious growth plans, enabling the company to scale its operations, strengthen its technology infrastructure, and enhance customer experiences. By expanding its asset financing platform, M-KOPA aims to empower more individuals and small businesses with the necessary tools and resources to thrive. This investment comes at a critical time when access to affordable financing remains a challenge for many people in Africa.

Related Articles

Register Now

Empower Africa Times Newsletter

Share :

You may also like...

Posted on by — Leave a comment

Proparco backs DisrupTech Ventures with $5 million to invest in Egypt’s fintech space

Key Developments

Proparco backs DisrupTech Ventures with $5 million to invest in Egypt’s fintech space

| Article

Proparco, a leading development finance institution, has invested 45 million in Disruptech Ventures to accelerate the growth of Egypt’s fintech sector.
 

DisrupTech Ventures is an early-stage venture capital fund aiming to provide seed funding to up to 28 startups. The VC fund raised $36 million from several investors, including Development Finance Institutions, Funds-of-funds and Family offices. The investment is projected to be an important financing source for Egyptian tech companies, which often struggle to raise capital to bring their innovations to market.

 

Launched two years ago, DisrupTech was established to support early-stage Fintech and Fintech-enabled digital services startups focusing on Egypt. The firm adopts a hands-on approach from the beginning, partnering with talented entrepreneurs to transform their vision into reality.

Related Articles

Register Now

Empower Africa Times Newsletter

Share :

You may also like...

Posted on by — Leave a comment

Fingo Africa teams up with Ecobank to become Kenya’s first neobank

Key Developments

Fingo Africa teams up with Ecobank to become Kenya’s first neobank

| Article

Siemens Fingo Africa, a YC-backed fintech, has partnered with Ecobank to launch the first neobank in Kenya.
 

The collaboration marks a significant milestone in Kenya’s banking sector and sets the stage for a new era of accessible and innovative banking solutions. Founded in 2021, Fingo aims to empower youths to create a wealthier Africa with distinctly designed financial products. The startup’s collaboration with Ecobank combines the agility and innovation of a neobank with the stability and expertise of an established financial institution.

 

Fingo seeks to deliver financial services such as savings, insurance, and credit to its users at cheaper transfer fees, subsidized rates at pay bills, and cash-back rewards, among other features.

Related Articles

Register Now

Empower Africa Times Newsletter

Share :

You may also like...

Posted on by — Leave a comment

 ADF, Smart African Alliance join forces to boost digital trade in Africa.

Key Developments

ADF, Smart African Alliance join forces to boost digital trade in Africa

| Article

Siemens The African Development (ADF), in partnership with the Smart Africa Alliance, has launched a new project to drive digital trade in Africa.

The $1.5 million project will support the implementation of digital trade facilitation systems in several African countries. Burundi, Kenya, Malawi, Rwanda, Uganda, Tanzania, and Zambia, are among the countries that will benefit from the project. The DATC project is expected to improve trade efficiency in Africa by reducing transaction costs, enhancing predictability, and reducing trade-related risks.

Related Articles

Register Now

Empower Africa Times Newsletter

Share :

You may also like...

Posted on by — Leave a comment

YALI, Microsoft ADC partner to empower African youth with digital skills

Key Developments

YALI, Microsoft ADC partner to empower African youth with digital skills

| Article

The Young African Leadership Initiative (YALI) has partnered with Microsoft Africa Development Center (ADC) to improve the digital skills of young people in the East Africa region.

Through this partnership, YALI and Microsoft ADC will work together to equip African youth with the digital skills they need to succeed in the 21st-century workforce. The partnership will leverage the YALI network of young leaders and Microsoft’s resources to provide training and mentorship in digital skills such as data analysis, artificial intelligence, and cloud computing.

This will help young Africans acquire the technical skills and knowledge required for jobs in the digital economy, where demand for skilled workers is rapidly increasing.

Related Articles

Register Now

Empower Africa Times Newsletter

Share :

You may also like...

Posted on by — Leave a comment

 Afrilabs welcomes 19 new hubs to supercharge African innovation

Key Developments

Afrilabs welcomes 19 new hubs to supercharge African innovation

| Article

AfriLabs, one of Africa’s leading networks of technology and innovation hubs, to supercharge African innovation.

This expansion marks a significant milestone in AfriLabs’ mission to catalyze innovation, entrepreneurship, and technology-driven growth throughout Africa. By embracing these new hubs, AfriLabs further solidifies its position as a powerhouse, propelling Africa to the forefront of global innovation. The 19 hubs joining the esteemed AfriLabs network are strategically located across various African countries, ensuring a broad and inclusive representation of the continent’s innovation landscape.

By joining forces, AfriLabs and the newly added hubs will facilitate collaboration, knowledge sharing, and resource mobilization, empowering entrepreneurs, startups, and innovators across Africa.

The newly-added hubs include:

1. Enroot (Egypt)

2. Entrepreneurship Center of Social Impact-(Egypt)

3. Ichraf Jarray of Hive12 (Tunisia)

4. Soha Amer of Universite Senghor (Egypt)

5. iZet Hub (Kenya)

6. Knowledge Hub (KHub) (Ethiopia)

7. WiseHub (Kenya)

8. Antler Foundation Nairobi (Kenya)

9. Knight Ventures (Nigeria)

10. Axia Technology & Innovation Hub (Nigeria)

11. Eridan Group (Nigeria)

12. Mainstream Exelient Hub (Nigeria)

13. AfriTech Hub (Ghana)

14. TechHubHarare (Zimbabwe)

15. Acelera (Angola)

16. Afrisource Innovation Center (Namibia)

17. Fondation Bantu Hub (Congo)

18. IDENTIC Foundacion (Equatorial Guinea)

19. LPC Space (Equatorial Guinea).

 

Related Articles

Register Now

Empower Africa Times Newsletter

Share :

You may also like...