Category: Key developments

The International Monetary Fund (IMF) has revised its economic outlook for Africa, warning that the ongoing conflict in the Middle East is undermining growth prospects across the continent and adding fresh pressure on already fragile economies.

Google has unveiled the 10th cohort of its Google for Startups Accelerator Africa, selecting 15 startups from a highly competitive pool of close to 2,600 applicants.

Launch Africa Ventures has been named investment advisor for the first phase of the Botswana Tech Fund, a new venture vehicle that plans to support technology and tech-enabled businesses across Southern Africa.

Nigerian defence technology company Terra Industries has unveiled plans to build what will be Africa’s largest drone manufacturing facility, marking a major expansion of its operations beyond Nigeria.

The African Development Fund (ADF), the concessional financing arm of the African Development Bank Group, has approved a grant of 1.7 billion CFA francs (about $2.8 million) to support private sector growth in West Africa’s monetary union.

Pan-African fintech startup Zazu has entered a new phase of its expansion with the launch of a fully digital business banking solution in Morocco, developed in partnership with global payments company Visa.

African startups attracted an estimated $705 million in funding during the first quarter of 2026, spread across 59 disclosed deals in 14 countries.

Sixteen African startups focused on climate and agriculture solutions have been selected for Halcyon’s Climate Resilience and Food Security program.

Ethiopia has signed investment agreements valued at approximately $13.1 billion, marking one of the largest recent foreign direct investment (FDI) inflows announced in Africa.