BOLDEN African News
Business news from across Africa, checked before it reaches you
A rolling record of the deals, decisions and market moves that matter to BOLDEN members, newest first. Every story is checked against its original source and links to it. For the investment data behind the headlines, see BOLDEN Intelligence.
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Tuesday 3 November 2026
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Devki Group has committed more than Sh200 billion to cement and steel over five years
Kenyan industrialist Narendra Raval's Devki Group has committed more than Sh200 billion (about $1.5 billion) to cement and steel plants over the past five years. The largest project is a Sh70 billion cement and clinker plant at Ngaaie in Kitui County, where President Ruto led the groundbreaking on 27 October; it is expected to operate from mid-2027 and create 4,000 jobs. The group also lists a Sh45 billion clinker factory in West Pokot and a $500 million steel plant in Tororo, Uganda.
Sources: Billionaires.Africa, Business Daily · 3 November 2026
Monday 2 November 2026
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Green Climate Fund approves AFC's Africa Sovereign Climate Facility for four countries
The Green Climate Fund's board approved the Africa Sovereign Climate Facility, run by Africa Finance Corporation, on 28 October. The GCF is putting about $275 million in loans and grants towards a total of $675 million; AFC puts the facility at $690 million. It will help Angola, Benin, Côte d'Ivoire and Nigeria prepare and finance climate-aligned public investment in energy, food systems, water and sanitation, and climate-resilient infrastructure.
Sources: Green Climate Fund, Africa Finance Corporation · 28 October 2026
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Aradel's nine-month revenue rises more than sevenfold to ₦3.95 trillion
Nigerian oil and gas producer Aradel Holdings reported revenue of ₦3.95 trillion for the nine months to 30 September, up 633% on a year earlier after its acquisitions. Profit after tax fell 82% to ₦43.3 billion, held down by a ₦529.1 billion charge on payments still owed for the ND Western and Renaissance deals, which the company is asking to review. It declared an interim dividend of ₦7 per share.
Sources: BusinessDay, Nairametrics, Nigerian News Direct · 1 November 2026
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Ghana opens talks with Rosatom on its first nuclear power station
President John Mahama said Ghana has started discussions with Rosatom, Russia's state nuclear corporation, on building the country's first nuclear power station. Speaking at the Third Russia-Africa Forum in Moscow, he named unreliable power as a barrier to Africa's industrialisation. No capacity, site, cost or timeline has been announced.
Source: Ghana News Agency · 29 October 2026
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Banque du Caire starts trading on the EGX after Egypt's largest IPO
Banque du Caire's shares began trading on the Egyptian Exchange's main market on 2 November after an IPO that raised a record EGP 36.37 billion. The bank sold 6,862,500,000 shares, 45% of its 15.25 billion shares, giving a market value of about EGP 80.82 billion. The EGX said the offer was oversubscribed 27 times and drew more than $500 million from abroad.
Source: Daily News Egypt · 2 November 2026
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Aspen sells European rights to Ovestin to Ennogen for €197 million
Aspen Pharmacare told the JSE on 2 November that it has agreed to sell the European rights to Ovestin, a menopause medicine, to Ennogen Healthcare International for €197 million, plus €4 million for existing stock. Ovestin brought in about R756 million in revenue and R238 million in profit after tax in Aspen's 2026 financial year. Aspen expects a profit of about R2 billion on the sale.
Source: Billionaires.Africa · 2 November 2026
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Pretoria High Court sets aside South Africa's fourth National Lottery licence award
The High Court in Pretoria on 2 November set aside Trade Minister Parks Tau's decision to award the fourth National Lottery and Sports Pools licence to Sizekhaya Holdings, an eight-year contract valued at about R180 billion. The court found the ministerial committee's recommendation unlawful; the National Lotteries Commission had scored Ringeta 73.92 points and Sizekhaya 72.95. The order is suspended for 12 months.
Source: Billionaires.Africa · 2 November 2026
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MTN Nigeria's nine-month profit after tax rises 55.3% to ₦1.17 trillion
MTN Nigeria's profit after tax for the nine months to 30 September 2026 rose 55.3% to ₦1.17 trillion, on revenue up 23.6% to ₦4.61 trillion. EBITDA rose 36.8% to ₦2.62 trillion, a margin of 56.9%, and data revenue rose 35.8% to ₦2.68 trillion. Subscribers reached 94.7 million, and total borrowings fell 36.8% since December 2025 to ₦333.3 billion.
Sources: Business Tech Africa, Investing.com · 2 November 2026
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Access Holdings' nine-month pre-tax profit rises 8.3% to ₦667.4 billion
Access Holdings released its nine-month results on 2 November: profit before tax rose 8.3% to ₦667.4 billion in the nine months to September, and profit after tax rose 6% to ₦474.2 billion. Third-quarter pre-tax profit rose to ₦253.2 billion from ₦141.9 billion in the second quarter. The shares closed 7.3% lower at ₦26.50 on the day.
Source: Billionaires.Africa · 2 November 2026
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Egypt's investment minister visits the Dangote refinery as a $15 billion Egypt plan is discussed
Dangote Industries said on 2 November that it had hosted a delegation led by Mohamed Farid Saleh, Egypt's minister of investment and foreign trade, at its Lagos refinery. Aliko Dangote has said an initial investment in Egyptian refining and petrochemicals could be about $10 billion and could reach $15 billion. The size and structure of any deal are still being discussed.
Source: Billionaires.Africa · 2 November 2026
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Guinea opens its first gold refinery, the Nimba Gold Refinery in Conakry
Guinea inaugurated its first gold refinery, the Nimba Gold Refinery in Conakry, on 1 November, with capacity of up to 733 tons a year. New rules require miners to refine locally, and the central bank may buy up to 30% of industrial and semi-industrial operators' gold output for the state. Mines Minister Bouna Sylla said the immediate aim is to refine 30% of the country's production.
Sources: Ecofin Agency, New National Star · 2 November 2026
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Tanzania registered 3,538 investment projects worth $68.6 billion in five years
TISEZA Director General Gilead Teri told editors in Dar es Salaam on 2 November that Tanzania registered 3,538 investment projects worth $68.6 billion over the past five years, expected to create more than one million jobs. Manufacturing led with 1,061 projects, followed by transport (525), tourism (335) and agriculture (308). China was the largest foreign source at $14.1 billion, followed by the UAE at $5.039 billion.
Source: The Respondent · 2 November 2026
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British International Investment puts £2.25 billion towards Africa's frontier markets
British International Investment, the UK's development finance institution, is directing £2.25 billion to Africa's less-served markets, a quarter of the £9 billion it plans for Africa under its 2026 to 2031 strategy. BII plans to invest £5 billion directly and mobilise £4 billion from partners, with a focus on power, ports, railways and digital infrastructure. Chief executive Leslie Maasdorp named markets such as Burundi and the DRC, where commercial capital is scarce.
Sources: NewsBeep, Nairametrics · 2 November 2026
Sunday 1 November 2026
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Spiro and ESP start Women in E-Mobility pilot in Rwanda
Electric motorcycle company Spiro and Entrepreneurial Solutions Partners have launched a Women in E-Mobility programme in Rwanda to train women as professional electric motorcycle riders and business owners. The first 50 women began training in October 2026, the first cohort of a pilot targeting 500 in Rwanda, with plans to reach 5,000 participants across Africa by 2030.
Source: Capital (Ethiopia) · 1 November 2026
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Africa Energy Bank formally established with $5 billion authorised capital
Afreximbank and the African Petroleum Producers' Organization held the bank's first general meeting in Abuja on 31 October, constituting it with $5 billion in authorised capital and naming Helmy Ghazi as its first president. The bank is aimed at an estimated $200 billion energy financing gap and will fund oil, gas and wider energy projects as traditional lenders step back from fossil fuels. First financing is expected in 2027.
Sources: Bloomberg, Leadership · 31 October 2026
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Stanbic Bank Botswana opens IPO for 20% of its shares
Stanbic Bank Botswana, part of Standard Bank Group, has opened an initial public offering of 20% of its shares at P4.30 each. The offer closes on 27 November and the bank expects to list on the Botswana Stock Exchange Main Board on 7 December. Standard Bank keeps 80% through Stanbic Africa Holdings.
Sources: CNBC Africa, Botswana Youth Magazine · 30 October 2026
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DRC and Côte d'Ivoire leave the FATF grey list
The Financial Action Task Force removed the Democratic Republic of the Congo and Côte d'Ivoire from its grey list at the close of its plenary on 30 October, after both completed their action plans. Bulgaria and Monaco were also removed. The EU's own high-risk list still names the DRC until the European Commission updates it.
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Cameroon's Sonara signs fuel supply deal with Dangote and MRS
Cameroon's state refiner Sonara has signed an agreement with Nigeria's Dangote Group and Lagos-based MRS Oil & Gas to supply refined petroleum products. The deal was signed in Lagos on 22 October and announced on 30 October. Cameroon has relied entirely on imported fuel since a 2019 explosion damaged its only refinery.
Source: CNBC Africa · 30 October 2026
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ABA Life signs a $40 million investment agreement with Admaius Capital Partners
Moroccan health technology company ABA Life has signed a $40 million investment agreement with pan-African private equity firm Admaius Capital Partners. The money will fund its AI for Health Sovereignty programme, medical AI and telemedicine, and expansion into new markets. Completion depends on customary conditions and approval from Morocco's Competition Council.
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Millennial Potash plans a larger start for its Banio project in Gabon
Millennial Potash is targeting financial close in August or September 2027 and construction from late 2027 at its Banio potash project, and may start at 1 to 1.2 million tonnes a year instead of the planned 800,000. The US International Development Finance Corporation has committed $3 million to the feasibility study. First production would follow around 2029 or 2030.
Source: MINING.COM · 27 October 2026
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Egypt signs $1 billion World Bank financing for the second phase of its reform programme
Egypt signed a $1 billion financing agreement with the World Bank on 1 November under the second phase of its Development Policy Financing programme, approved by the World Bank board in May 2026. Foreign Minister Badr Abdelatty and World Bank Regional Director Walid Al-Atbani signed, with Prime Minister Mostafa Madbouly present. The reforms cover state-owned enterprise governance, private investment, tax revenue, social protection, carbon markets and electricity and water finances.
Source: Daily News Egypt · 1 November 2026
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Ethiopia seeks nearly $11 billion from partners for its third electrification plan
Ethiopia is seeking nearly $11 billion from the World Bank and other development partners for its third National Electrification Plan. The Ministry of Water and Energy puts the plan's cost at more than $18 billion, to reach 32.5 million households over the next decade, about 4.4 million of them off-grid. Private investors are expected to supply about $800 million for off-grid solutions; the external figure is a funding target, not a commitment.
Source: Capital Ethiopia · 1 November 2026
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EIB Global and Dashen Bank make €40 million available to Ethiopian SMEs
EIB Global is lending €20 million to Dashen Bank, which will match the sum, making €40 million available to Ethiopian small and medium-sized businesses. At least 70% is to go to agriculture and related activities. Priority goes to SMEs exporting to Europe and to women-led enterprises.
Source: Capital Ethiopia · 1 November 2026
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OCI shareholders approve the combination with Orascom Construction
OCI shareholders approved the combination with Orascom Construction at an extraordinary general meeting in Amsterdam on 30 October, with 99.85% of votes cast in favour. OCI shareholders will receive 0.4634 Orascom Construction shares for each OCI share, and Orascom will issue 97.2 million new shares. Orascom said on 1 November it expects to complete the deal in December, with listing of the new shares in Abu Dhabi and Egypt expected on 24 November.
Source: Billionaires.Africa · 1 November 2026
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Affluent South Africans gave about R5.8 billion to good causes in 2025
Nedbank Private Wealth's Giving Report finds that affluent South Africans gave about R5.8 billion in cash and goods in 2025, about R2.9 billion of it in cash, and volunteered 3.1 million hours. 86% gave money, goods or time. The survey was based on 300 one-on-one interviews held between November 2025 and March 2026; women made up 55% of donors.
Source: Billionaires.Africa · 1 November 2026
Saturday 31 October 2026
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Ethio Telecom targets ETB 295 billion in revenue for 2026/27
Ethio Telecom's 2026/27 business plan targets revenue of ETB 295 billion, up 36.7%, including ETB 77.45 billion from digital and adjacent businesses. It projects EBITDA of ETB 154.4 billion and ETB 43.1 billion in dividends to the government and public shareholders. Its telebirr mobile money service has 67.69 million active users, and national backbone fibre is to grow to 25,642 km.
Source: The Reporter Ethiopia · 31 October 2026
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Airtel Kenya acquires 100 MHz of 5G spectrum for $65 million
Airtel Africa said its Kenyan subsidiary has acquired 100 MHz of spectrum in the 3500 MHz band for $65 million (about KSh8.4 billion), on a 25-year term. The Communications Authority of Kenya approved the acquisition subject to standard conditions. Airtel Kenya secured a new 25-year operating licence in August 2026.
Source: TechTrendsKE · 31 October 2026
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Ibrahim Index finds governance worse in 23 African countries than a decade ago
The 2026 Ibrahim Index of African Governance, released on 31 October at the American University in Cairo, found overall governance in 23 African countries was worse in 2025 than in 2016, while 30 improved. The continental average rose 0.8 points to 50.1 out of 100, but Security and Rule of Law fell 1.7 points to 47.8. Seychelles ranked first at 78.6 and South Africa fifth at 66.6.
Source: Billionaires.Africa · 1 November 2026
Friday 30 October 2026
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OPay withdraws its $304 million New York IPO after pricing
OPay priced 16 million shares at $19, the low end of its $19 to $21 range, to raise $304 million on the New York Stock Exchange at a valuation of about $4 billion. Before trading began, the company and its underwriters agreed to end the offering, citing a regulatory inquiry in an unnamed foreign jurisdiction. OPay said the inquiry does not reflect its business performance or financial condition.
Sources: Renaissance Capital, Techpoint Africa · 30 October 2026
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MTN Ghana's nine-month service revenue rises 33.5% to GHS 23.2 billion
MTN Ghana reported service revenue up 33.5% to GHS 23.2 billion for the nine months to 30 September 2026, with profit after tax up 43% to GHS 7.8 billion. Data revenue rose 44.5% and mobile money revenue 24.4%. The National Communications Authority awarded the company 700 MHz and 3 GHz spectrum on 15-year licences at a cost of $202 million.
Source: TechAfrica News · 30 October 2026
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Airtel Africa's half-year revenue rises 28% to $3.82 billion
Airtel Africa reported revenue of $3,823 million for the six months to 30 September 2026, up 28.2% (20.8% in constant currency), and profit after tax of $452 million. Customers rose 11.6% to 193.9 million, with mobile money customers up 22.4% to 60.9 million. Capital expenditure more than doubled to $657 million, and about 4,200 sites were added.
Source: TechAfrica News · 30 October 2026
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Tanzania and Angola agree to link their ocean ports by rail
During Angolan President João Lourenço's state visit, the two countries signed a bilateral deal to develop a railway linking Lobito on the Atlantic with Dar es Salaam on the Indian Ocean, through the DRC and Zambia. It would join the Benguela Railway with the TAZARA network. No financing, construction date or route for the missing section has been disclosed.
Sources: Kenya Today, Engineering News · 30 October 2026
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Air Mauritius reports a €78.63 million profit for 2025/26
Air Mauritius reported a profit of €78.63 million for its 2025/26 financial year and a return to positive shareholders' equity of €26 million. The result includes accounting items such as remeasured aircraft-return provisions and expired pandemic vouchers, which were not quantified. Management warned that higher fuel costs in 2026/27 may not be fully recovered through fares.
Source: Travel PR News · 30 October 2026
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UAE and DRC economic partnership agreement enters into force
The Comprehensive Economic Partnership Agreement between the United Arab Emirates and the Democratic Republic of the Congo entered into force on 30 October 2026. It removes tariffs across most product lines, harmonises customs procedures and sets a framework for investment, with logistics, energy and manufacturing as priority sectors. Non-oil bilateral trade reached US$3.5 billion in 2025, up 38.5%.
Source: FurtherAfrica · 30 October 2026
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Namibia Breweries, WWF Namibia and Global Water Challenge sign N$13 million Swakop Basin water agreement
Namibia Breweries, WWF Namibia and the Global Water Challenge signed an agreement in Windhoek, with the City of Windhoek as partner, for a five-year, N$13 million water project in the Swakop River Basin. Planned work includes managed aquifer recharge and removal of invasive plants. The project targets about 386 million litres of annual water benefits and 153 hectares restored by 2030.
Source: New Era · 30 October 2026
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SAPETRO agrees to buy a 40% stake in TotalEnergies' offshore block OPL257
TotalEnergies signed a farm-out agreement on 30 October under which SAPETRO, the company of TY Danjuma, will take a 40% participating interest in offshore block OPL257, which holds part of the Egina South discovery. After closing, TotalEnergies keeps 50% and stays operator, and Conoil keeps 10%. The price was not disclosed and completion needs Nigerian regulatory approval.
Source: Billionaires.Africa · 2 November 2026
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Ghana and Burkina Faso move towards a new bilateral trade agreement
Ghana's Trade Minister Elizabeth Ofosu-Adjare said at the opening of the 18th International Arts and Crafts Fair of Ouagadougou (SIAO 2026) on 30 October that the two countries are taking steps towards a fresh bilateral trade agreement. She said formal trade between them topped US$1 billion last year. Ghana is guest of honour at the fair alongside Mali and Niger.
Source: Rainbow Radio Online · 2 November 2026
Thursday 29 October 2026
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Green Climate Fund approves $140 million for green hydrogen in Namibia and South Africa
The Green Climate Fund approved $140 million at its 46th Board meeting for industrial decarbonisation and green hydrogen in Namibia and South Africa. Namibia's SDG Namibia One Fund receives $56 million and South Africa's SA-H2 Fund $84 million, largely for construction equity. The Development Bank of Southern Africa is the accredited entity, and the funding supports Climate Investor Three.
Source: SolarQuarter · 29 October 2026
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Glencore's cobalt output falls 52% under Congo's export quotas
Glencore produced 13,700 tonnes of own-sourced cobalt in the first nine months of 2026, down 52% from 28,500 tonnes a year earlier, as it held more material in solution under the Democratic Republic of the Congo's export quotas. Its African Copper division, which includes Kamoto Copper Company and Mutanda, produced 11,600 tonnes, down 56%. The restrictions are expected to last until at least the end of 2027.
Source: MINING.COM · 29 October 2026
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Mastercard and Interswitch bring Google Pay to cardholders in Nigeria
Mastercard and Interswitch announced that eligible Mastercard cardholders in Nigeria can now use Google Pay on Android devices for contactless payments. The service uses Mastercard's tokenisation technology, and Interswitch connected several Nigerian card issuers to the capabilities needed to offer it. NIBSS data cited in coverage put digital payment transactions at 11.2 billion in 2026.
Source: TechAfrica News · 29 October 2026
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Laayoune medical faculty signs two training and research agreements with US partners
The Faculty of Medicine and Pharmacy of Laayoune, part of Ibn Zohr University, signed memorandums of understanding with Celenova Fertility and the Fetal Research Fund on 29 October 2026. The agreements cover medical training, scientific research and patient care, including skills development for doctors, students and residents. No financial terms were reported.
Source: Morocco World News · 29 October 2026
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British International Investment provides US$7 million to Okra Solar for rural Nigerian power
British International Investment, the UK's development finance institution, provided a US$7 million debt facility to Okra Solar. The working capital will buy equipment for about 150,000 new mesh-grid connections, with potential to bring electricity to 750,000 people in rural Nigeria for the first time. Okra currently serves more than 13,000 households.
Source: African Startups · 29 October 2026
Wednesday 28 October 2026
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Nigeria's Federal Executive Council approves eight road projects worth ₦594.49 billion
Works Minister David Umahi said the approvals range from ₦11.33 billion to ₦209 billion, including the ₦209 billion Ado-Ekiti-Ijan-Ilumoba-Ikole road and the ₦160 billion E2K-Okey-Ampa-Otopa road in Kogi. Ministers from Nigeria, Benin, Togo, Ghana and Côte d'Ivoire were also due to meet on African Development Bank financing for the 1,028 km Lagos-Abidjan highway.
Source: Arise News · 28 October 2026
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APM Terminals secures concession for 4.5 million TEU Tanger Med 3 container terminal
APM Terminals has signed a concession for Tanger Med 3, a new container terminal west of Tanger Med 2 with 1,200 metres of quay, Morocco's Royal Office announced on 28 October. The investment is MAD 8 billion (about US$812 million) and annual capacity will be 4.5 million TEUs. Tanger Med handled 11.1 million TEUs in 2025, up 8.4%.
Source: Africa PORTS & SHIPS · 28 October 2026
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Nigeria's student loan fund NELFUND pilots tokenised tuition payments
NELFUND chief executive Akintunde Sawyerr announced a pilot of a tokenised payment system tying approved tuition funds to the designated institution, to stop duplicate fee payments. A parents' portal is also planned. Cumulative disbursements stood at N372.62 billion as of 29 September 2026, including N192.89 billion for institutional fees across 319 institutions.
Source: Within Nigeria · 28 October 2026
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Egyptian solar irrigation company NoorNation closes a US$1.05 million seed round
NoorNation, founded in 2021, closed a US$1.05 million seed round from Linah Farms, Catalyst Fund and KBW Ventures. It offers solar irrigation as a service, letting farmers pay by the hour or pay as they go instead of buying diesel pumps. Linah Group has agreed five more solar projects of about 1.13 MWp in Bahariya and West Minya.
Source: African Startups · 28 October 2026
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The Gambia signs a waste management concession with Ghana's Zoomlion
The Government of The Gambia and Zoomlion Gambia Integrated Waste Solutions, part of Ghana's Jospong Group, signed an Integrated Waste Management Project concession at State House in Banjul on 28 October. In the first phase Zoomlion will finance, design and build a mechanical biological treatment plant and transfer stations, and run municipal waste collection. No investment figure was given.
Source: Ghanaian Times · 2 November 2026
Tuesday 27 October 2026
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Dangote refinery's N2.15 trillion share offer closes with applications from 120 countries
The Dangote Petroleum Refinery's offer of 4.1 billion ordinary shares at N525 each, seeking about N2.15 trillion, closed on 27 October after the Securities and Exchange Commission approved an extension from 13 October. The offer opened on 14 September. The company said applications came from investors in 120 countries, including all 54 African countries. The final amount subscribed has not yet been published.
Sources: allAfrica (Premium Times), The Rio Times · 27 October 2026
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Marriott opens The Cape Town EDITION, the brand's first hotel in Africa
The 142-room hotel sits at Quay 7 on the V&A Waterfront and was designed by Neri&Hu. It includes a rooftop restaurant and pool, a spa below sea level, a ballroom for up to 200 guests and meeting studios. The investment value and ownership structure were not stated in the reports.
Sources: Rus Tourism News, eTurboNews · 27 October 2026
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Ruto breaks ground on Devki Group's Ksh70 billion clinker and cement plant in Kitui
President William Ruto broke ground on 27 October on Devki Group's Ksh70 billion clinker and cement plant at Ngaaie, Mwingi North, the first cement manufacturing facility in Kitui County. Global Cement reports the investment at US$538 million, with completion scheduled for August 2027. The plant is intended to reduce Kenya's reliance on imported clinker.
Sources: Citizen Digital, Global Cement · 27 October 2026
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AFC selects preferred contractors for 830 km Lobito Corridor railway linking Zambia and Angola
The Africa Finance Corporation has selected preferred bidders for the 830 km railway linking Zambia to Angola's Port of Lobito: Webuild, Mota-Engil and IC İçtaş for the Zambian section, and Mota-Engil and Odebrecht for the Angolan section. Contract negotiations begin in November 2026, with AFC aiming to conclude the EPC agreements within 8 to 12 weeks.
Sources: Green Building Africa, Ver Angola (Lusa) · 27 October 2026
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Uganda Airlines launches four-times-weekly Entebbe to Accra service via Lagos
Uganda Airlines operated its inaugural Entebbe to Accra flight, UR900, on 27 October, routing via Lagos four times a week with a Boeing 737-800 wet-leased from Ethiopian Airlines. Ghana granted fifth-freedom rights, allowing the airline to carry passengers and cargo between Lagos and Accra on the same service.
Sources: ATTA, Graphic Online · 27 October 2026
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Ghana's Vitara Agritech secures US$2 million to scale traceable shea supply chains
Vitara Agritech, formerly Sommalife, raised US$2 million (EUR 1.8 million) in equity. The EU-funded AgriFI facility made the main investment, with Acumen and a network of angel investors also participating. The funding will support traceable sourcing, women producers and protection of shea landscapes in northern Ghana.
Source: African Startups · 27 October 2026
Monday 26 October 2026
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India's BL Agro Industries plans a $739 million phased investment in Tanzania
BL Agro Industries plans to invest Rs 70 billion (US$739 million) in Tanzania over the next decade. The first project is an oilseed processing complex costing about US$158 million, with capacity of about 1,100 tonnes a day and operations expected within three years, subject to approvals. Plans also cover livestock breeding and agricultural infrastructure.
Source: Food Business MEA · 26 October 2026
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Google.org commits US$1 million to an AI filmmaking programme for African creators
Akuna Learning, part of The Akuna Group chaired by Sir Idris Elba, unveiled From Script to Screen with AI on 26 October 2026, backed by US$1 million from Google.org with a curriculum by Curious Refuge. The free programme is open to creators in Kenya, Ghana, Nigeria, Sierra Leone and South Africa, with production funding for selected projects. Applications close on 15 November 2026.
Source: TechTrendsKE · 30 October 2026
Saturday 24 October 2026
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Tanzania says $1.39 billion is available for 424 km of its standard gauge railway
Transport Minister Makame Mbarawa announced on 24 October that funding of US$1.39 billion is available for the Makutupora-Tabora and Tabora-Isaka sections, part of the line connecting Dar es Salaam with Mwanza on Lake Victoria. Completion is targeted for 2028. The lender was not named in the report, and the minister raised concerns about contractor delays.
Source: ATC News · 1 November 2026
Friday 23 October 2026
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Bannerman approves construction of the $353 million Etango uranium mine in Namibia
Bannerman Energy announced a final investment decision on 23 October for the Etango uranium mine. Pre-production capital is estimated at $353 million, of which about $64 million had been spent on early works by 30 September. The mine is expected to produce about 3.5 million pounds of U3O8 a year, with first output in 2028, and construction is fully funded without project debt.
Sources: African Mining Market, The Villager · 23 October 2026
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Unilever Nigeria lifts nine-month revenue 18% to ₦184 billion and declares interim dividend
Unilever Nigeria reported revenue of ₦184.0 billion for the nine months to 30 September 2026, up 18%, and net profit of ₦26.4 billion, up 20%. Gross profit rose 34% to ₦85.5 billion. The board declared an interim dividend of ₦2 per share, totalling ₦11.5 billion. Managing Director Tobi Adeniyi noted weaker consumer demand in the third quarter.
Sources: Nairametrics, Daba Finance, Brand Spur · 23 October 2026
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Competition Commission backs Dipula group's R2 billion retail property deal including six malls
The Competition Commission has recommended that the Competition Tribunal approve the purchase of six shopping centres from the Moolman Group by Luxanio, a property group ultimately controlled by JSE-listed Dipula, as part of an R2 billion transaction announced in August. The malls include Sasolburg Mall and City Centre Polokwane. The deal adds about 90,000 square metres of retail space.
Source: BusinessTech · 23 October 2026
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Morocco presents its 2027 finance bill with income tax reform and 3.7% growth target
Finance Minister Fouzi Lekjaa presented the 2027 finance bill to Parliament on 23 October. It assumes 3.7% growth in 2027, sets investment payment appropriations at 138.03 billion dirhams and raises the income tax exemption threshold from 40,000 to 60,000 dirhams a year. It is the first budget of Head of Government Fatima Ezzahra El Mansouri's government.
Sources: LesMRE, Morocco World News · 23 October 2026
Thursday 22 October 2026
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Côte d'Ivoire lays foundation stones for 152 MWp of solar in the north
Energy Minister Mamadou Sangafowa-Coulibaly laid foundation stones for three solar plants between 22 and 24 October: Katiola Solar Power (50 MWp), Tongon (52 MWp) and AMEA Power's Binguébougou plant (50 MWp). Katiola has signed mandate letters with the EBRD and Proparco. The plants count towards a national target of 1,262 MWp of grid-connected solar by 2030.
Source: Energy News Network · 31 October 2026
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ECOWAS ministers adopt battery storage rules as Ghana procures 200 MW of batteries
Meeting in Accra on 22 October, ECOWAS energy ministers adopted a regional directive on battery energy storage covering licensing, market participation and battery safety and recycling. Ghana's Energy Minister John Abdulai Jinapor said the country is procuring a 200 MW grid-scale battery system paired with a 200 MWp solar plant, and that payments to independent power producers have risen from about 40% of monthly bills to nearly 100%.
Source: Energy News Network · 29 October 2026
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Anchorage Pharmaceutical Industries opens a drug manufacturing plant in Enugu
Enugu State Governor Peter Mbah inaugurated Anchorage Pharmaceutical Industries Limited, described as a multi-billion naira private manufacturer, in the Trans-Ekulu area. The company says it holds approvals from NAFDAC and the Pharmaceutical Society of Nigeria. The state will explore supply partnerships for its central medical stores and primary healthcare centres.
Source: ThisDay · 24 October 2026
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Ghana signs a $270 million poultry investment agreement with Agrium Capital in London
Ghana's 24-Hour Economy Secretariat signed the agreement with UK agrifood investor Agrium Capital, building on Heads of Terms agreed in August. The project covers feed, breeding, hatcheries, farming, processing and cold storage. Ghana imports about 270,000 tonnes of chicken a year. Partner shares, location and whether the $270 million is binding financing have not been published.
Source: Rio Times · 23 October 2026
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Afreenergy Solar secures US$13.4 million in senior debt from REPP 2 to expand in Senegal
Afreenergy Solar has secured US$13.4 million in senior debt from REPP 2, a fund managed by Camco. The financing supports growth of its rooftop solar portfolio from 2.7 MWp to 14.9 MWp, plus 5.7 MWh of battery storage. Its customers are commercial and industrial businesses in retail, food manufacturing, agro-industry and infrastructure.
Source: African Startups · 22 October 2026
Wednesday 21 October 2026
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Egypt's 1.2 GWp Nefer Minya solar and storage project secures up to $566 million in debt
Infinity Power and Hassan Allam Utilities Energy (HAU) have secured a debt package of up to $566 million for Nefer Minya, a 1.2 GWp solar plant with 600 MWh of battery storage in Minya. The EBRD is providing a $160 million A-loan, Bank of Jordan a $75 million B-loan and the CIF Clean Technology Fund up to $30 million. Total project cost is $764 million.
Source: Enterprise · 21 October 2026
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First Quantum's expanded Kansanshi mine on track to process 27 million tonnes in 2026
First Quantum Minerals said its expanded Kansanshi copper mine in Zambia is on track to process about 27 million tonnes of ore in 2026, 8% above design capacity. The $1.2 billion S3 expansion, commissioned in August 2025, is expected to roughly double annual copper output to about 277,000 tonnes. Zambia aims to lift national copper output to 3 million tonnes a year by 2031.
Source: CNBC Africa (Reuters) · 21 October 2026
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Mozambique plans to invest about $235 million to adapt its health system to climate change
Health Minister Ussene Isse announced the plan at the opening of the Third Conference on the Impact of Climate Change on Health in Maputo. The investment is part of a roadmap to make the National Health System more resilient, and aims to prevent an estimated 30,000 deaths. Cyclones, floods and droughts have repeatedly disrupted health services.
Source: Club of Mozambique (AIM) · 21 October 2026
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Cameroon and the World Bank Group launch the AgriConnect Compact
The compact targets eight value chains: maize, rice, cassava, oil palm, cocoa, soybeans, dairy, and fisheries and aquaculture. It aims to attract private investment, raise productivity and reduce food imports. The AfDB, EU, AFD, IFAD and JICA are named as development partners. The food sector contributes about 17% of GDP and employs 42% of the workforce.
Source: World Bank · 21 October 2026
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Advtech acquires a 25% stake in education technology company MathU
Private education group Advtech has bought a 25% stake in MathU, with a board seat and exclusive rights to current and future AI-enhanced education solutions. MathU's platform has been used across Advtech's schools since 2023 under the Advlearn brand, covering Mathematics and Physical Science, with English to follow. The deal value was not disclosed.
Source: TechFinancials · 21 October 2026
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COMESA competition commission opens inquiry into Uber's proposed acquisition of Delivery Hero
The COMESA Competition and Consumer Commission published a notice of inquiry on 21 October 2026 into the proposed acquisition of Delivery Hero SE by Uber Technologies, through Uber International Technologies II Corporation. The case, reference CCCC/MER/10/43/2026, is listed as under assessment. Earlier in October the commission also opened an inquiry into African Global Logistics' proposed acquisition of Egytrans NOSCO.
Sources: COMESA Competition and Consumer Commission, COMESA Competition and Consumer Commission (latest updates) · 21 October 2026
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South Africa's medium-term budget cuts 2026 growth forecast to 1.2% and narrows the deficit
Finance Minister Enoch Godongwana's Medium-Term Budget Policy Statement lowered the 2026 growth forecast to 1.2% from 1.6%. The deficit is put at 3.9% of GDP this year, and debt is said to have stabilised at 78.4% of GDP in 2025/26. Temporary fuel levy relief worth R10 billion runs from 4 November 2026 to 5 January 2027.
Source: BusinessTech · 21 October 2026
Tuesday 20 October 2026
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MNT-Halan raises EGP 7.84 billion as it lists on the Egyptian Exchange
Egyptian fintech MNT-Halan began trading on the Egyptian Exchange on 20 October under the ticker HALN. Parent MNT Investments B.V. sold 320 million existing shares, 20% of the company, at EGP 24.50, raising EGP 7.84 billion (about $150 million). The retail tranche was 43.6 times oversubscribed, and total demand was about EGP 126 billion.
Source: Launch Base Africa · 20 October 2026
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Mozambique reaffirms its sovereign guarantee to Mozambique LNG financiers
Mozambique's Council of Ministers, meeting on 20 October, reaffirmed the sovereign guarantee first issued in 2019 to creditors of the TotalEnergies-operated Mozambique LNG project in Cabo Delgado. The government values the two-train project, with planned capacity of about 12.9 million tonnes a year, at about $20 billion, and first production is targeted for 2029. TotalEnergies announced a full restart in January 2026.
Source: FurtherAfrica · 21 October 2026
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Eastpharma signs agreement to take ownership of Sanofi's Cairo pharmaceutical plant
On 20 October Eastpharma and Sanofi Egypt signed a strategic manufacturing agreement under which Eastpharma will take ownership of Sanofi's plant in Cairo, which can produce about 124 million units a year. The value was not disclosed. On 25 October Eastpharma's CEO met the Egyptian Drug Authority to discuss new production lines and technology transfer.
Source: Ecofin Agency · 30 October 2026
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Nordic Impact Funds backs Ugandan solar water company Irrisol Engineering
Nordic Impact Funds has invested in Irrisol Engineering, joining earlier backer DOB Equity. The amount was not disclosed. Founded in 2017, Irrisol builds and runs solar-powered water systems for rural communities, with pay-as-you-go access through mobile money. It has built 14 community mini-grids and more than 600 standalone systems serving about 350,000 people, and targets one million by 2028.
Source: African Startups · 20 October 2026
Monday 19 October 2026
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Law firm Olaniwun Ajayi appoints former FATE Foundation chief Adenike Adeyemi as CEO
Nigerian law firm Olaniwun Ajayi has appointed Adenike Adeyemi as chief executive. She previously led FATE Foundation, expanding it to all 36 Nigerian states and into Kenya, South Africa and Ghana, and earlier worked in KPMG's management consulting division. Managing Partner Dr Tominiyi Owolabi said the firm needs world-class business leadership for its next phase of growth.
Source: Africa Legal · 20 October 2026
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Senegal's Swami Agri issues a XOF 30 billion debut green bond
Senegalese producer Swami Agri issued a five-year XOF 30 billion (US$52.2 million) green bond guaranteed by FAGACE and arranged by IMPAXIS Securities. Cygnum Capital's African Local Currency Bond Fund invested XOF 4 billion (US$7.0 million). Proceeds will fund 16.7 MW of solar generation and 62,500 tonnes of solar-powered cold storage.
Source: African Startups · 19 October 2026
Sunday 18 October 2026
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WFP, KOICA and Ghanaian agencies pilot a digital agriculture curriculum in agricultural colleges
The World Food Programme, Korea's KOICA, the Ministry of Food and Agriculture, CTVET and GI-KACE are piloting a digital agriculture skills programme in five agricultural colleges. The five modules cover smart agriculture, IoT and sensors, data applications, and agribusiness and digital marketing. CTVET plans to accredit participating colleges and integrate the content into HND and certificate programmes.
Source: Citi Newsroom · 18 October 2026
Friday 16 October 2026
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EEP Africa grants US$1.15 million to take Solarise Africa into Uganda and Zambia
The Energy and Environment Partnership Trust Fund (EEP Africa) awarded Nairobi-based Solarise Africa US$1.15 million, matched by US$1.1 million of the company's own funds, for a 24-month programme. It will set up operations in Uganda and Zambia and target 3 MW of new renewable capacity for businesses, including solar, battery storage and heat pumps.
Source: African Startups · 16 October 2026
Thursday 15 October 2026
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Greychapel Legal appoints Eniola Leyimu to lead its media, entertainment, technology and sports practice
Nigerian firm Greychapel Legal has appointed Eniola Leyimu as partner to lead its Media, Entertainment, Technology and Sports practice, advising creators, founders, investors and businesses. She previously worked at Discovery Communications in London and at Gipson Hoffman and Pancione in Los Angeles. Principal partner Oladele Oladunjoye said the hire strengthens the firm's offering across the creative and digital economy.
Source: Africa Legal · 15 October 2026
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Cascador and Sterling Bank launch a US$200 million SME credit backstop fund in Nigeria
Nigerian accelerator Cascador and Sterling Bank launched a US$200 million SME Credit Backstop Fund that absorbs part of lenders' credit risk. Eligible businesses can initially borrow up to US$250,000 in local currency, rising to US$1 million once the fund is fully capitalised. Backstop capital is expected from philanthropies, impact investors and development finance institutions.
Source: Tech Africa News · 15 October 2026
Wednesday 14 October 2026
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EIB Global and FCMB sign €85 million facility for Nigerian agribusiness
EIB Global and First City Monument Bank signed €85 million of financing for private agricultural companies in Nigeria, with at least 70% aimed at cocoa and dairy value chains. The cocoa funding supports processing, liquidity for cooperatives and traceability for EU deforestation rules. It is EIB Global's first investment covering dairy outside the EU.
Source: P.M. News · 19 October 2026
Tuesday 13 October 2026
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Botswana reported to be near agreement to raise its De Beers stake to about 25%
Botswana and the Global Diamond Consortium, led by former De Beers chief executive Gareth Penny and including Namibia and Angola, are near agreement on their future stakes in De Beers, Bloomberg reported, citing people familiar with the matter. Botswana would likely raise its holding from 15% to around 25%. Anglo American is seeking to exit De Beers, and no agreement has been finalised.
Source: MINING.COM (Bloomberg) · 13 October 2026
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Competition Tribunal approves Shoprite and Woolworths acquisitions with conditions
South Africa's Competition Tribunal conditionally approved Shoprite Checkers' acquisition of the PicardiRebel liquor stores and Woolworths' acquisition of In2food Holdings. Shoprite must spend capital refurbishing the stores and observe a two-year moratorium on merger-related retrenchments. The Woolworths conditions cover employment, procurement and the handling of competitively sensitive information. Deal values were not disclosed.
Source: Bizcommunity · 13 October 2026
Monday 12 October 2026
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Harare hosts Africa Skills Week 2026 on turning training into jobs and industrial growth
Africa Skills Week 2026 ran in Harare from 12 to 16 October, bringing together policymakers, employers, training institutions and young people. The week focused on linking vocational training to employment, business creation and industrial value, and is tied to the African Union's Continental TVET Strategy 2025 to 2034. ILO data cited shows 35 in every 1,000 young people in 35 African countries take part in apprenticeships or internships.
Source: African Leadership Magazine · 16 October 2026
Friday 9 October 2026
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Zimbabwe rules out delay to its January 2027 lithium concentrate export ban
Zimbabwe's Secretary for Information, Nick Mangwana, said on 9 October there is no justification for extending the planned ban on lithium concentrate exports due to start in January 2027, and that producers have had ample time to prepare. The policy aims to promote domestic processing. Sinomine and Yahua are building lithium sulphate plants, while Huayou Cobalt has already commissioned one.
Sources: MINING.COM (Bloomberg), FurtherAfrica · 9 October 2026
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Kenya's Cabinet endorses a plan to add 6,900 hospital beds
The plan includes a new 2,000-bed Moi Teaching and Referral Hospital, a 1,000-bed Level Six hospital in Mombasa and 300 extra beds at each of 13 county Level Five hospitals. Cabinet also approved a Sh8 billion partnership with France for head and neck surgical services. No construction timelines or financing structure for the hospital programme were announced.
Source: The Star (Kenya) · 9 October 2026
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Nigerian games studio Vatar raises US$500,000 at a US$10 million valuation
Vatar, creator of the browser game Lagos Life launched on 1 October 2026, raised a US$500,000 angel round at a US$10 million valuation. The round was led by Flutterwave chief executive Olugbenga Agboola through Resilience17. The company says it has earned and contracted more than US$170,000 since launch from virtual billboards, in-game land, branded integrations and music partnerships.
Source: African Startups · 9 October 2026
Thursday 8 October 2026
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United States and Zambia sign a five-year, $2.49 billion health cooperation MoU
The United States intends to provide more than $1.5 billion over five years, subject to working with Congress, and Zambia pledges to raise domestic health spending by $975 million. Priorities include HIV, tuberculosis, malaria and maternal health. Procurement of medical commodities will shift gradually to Zambia, and US-supported health workers will move into the civil service.
Source: U.S. Embassy in Zambia · 8 October 2026
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Morocco welcomes 15.7 million tourists by the end of September
Ministry of Tourism figures show 15.7 million arrivals in the first nine months of 2026, up 5% on 2025, with September alone above 1.5 million, up 8%. Tourism revenues reached MAD 97.92 billion from January to August, up 9.7%, according to Exchange Office data. The government's target is 26 million tourists by 2030.
Source: Morocco World News · 8 October 2026
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Freeport Saldanha signs 25-year lease with TNPA for 55 hectares at Saldanha Bay
Transnet National Ports Authority and Freeport Saldanha signed a 25-year lease on 8 October for about 55 hectares in the Southern Precinct of the Port of Saldanha Bay. Freeport Saldanha's project pipeline is valued at about R6.9 billion, covering marine services, bunkering, industrial manufacturing and energy infrastructure, including proposed LNG import and storage. The projects remain under consideration.
Source: Africa PORTS & SHIPS · 8 October 2026
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IMF staff and Niger reach agreement on a US$203 million credit facility
IMF staff and the Nigerien authorities reached a staff-level agreement on 8 October on a new 38-month Extended Credit Facility of about US$203 million. The arrangement still requires IMF Executive Board approval, expected in December 2026. Approval would release about US$36 million.
Sources: The Rio Times, The Sahel Brief · 8 October 2026
Wednesday 7 October 2026
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DP World extends Luanda terminal concession to 2051 and commits US$90 million to expansion
DP World's concession at the Port of Luanda has been extended by 10 years to 2051, and the company will invest a further US$90 million over the next two years. The quay will grow by 222 metres to 830 metres and design capacity will rise to 1.2 million TEUs. Throughput has risen from 177,000 TEUs in 2021 to more than 350,000 TEUs.
Source: Africa PORTS & SHIPS · 7 October 2026
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Tunisia records more than 400 trade operations under the AfCFTA
Tunisia's Trade Minister Samir Abid says more than 400 export and import operations have been carried out under the African Continental Free Trade Area agreement, according to TAP. The figure was reported as the AfCFTA Secretariat ran an SME support programme for North Africa in Tunis from 6 to 9 October 2026. Tunisia issued its first AfCFTA certificate of origin in May 2023.
Source: Managers.tn · 7 October 2026
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Moody's raises its outlook for sub-Saharan African sovereigns to positive
Moody's changed its outlook for sub-Saharan Africa to positive, citing reforms, strong commodity prices and better access to financing. It expects average growth of 4.3% in 2026 and 2027, with government debt falling from 62.4% of GDP in 2025 to 56.6% in 2027. Eight of the 25 rated countries carry positive outlooks.
Sources: Bizcommunity (Reuters), allAfrica / Daba Finance · 7 October 2026
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Tanzania's East Africa Foods raises about US$40 million to expand food logistics
East Africa Foods raised about US$40 million, including a US$26 million Series B led by InfraCo, part of the Private Infrastructure Development Group, with FMO and Oikocredit joining. The Schmidt Family Foundation provided debt. The company sources from more than 28,000 smallholder farmers and supplies more than 10,000 retailers in Tanzania and Kenya.
Sources: African Startups, WeeTracker · 7 October 2026
Tuesday 6 October 2026
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Infinite Partners closes R2.8 billion Core Equity Fund II above target
Johannesburg private equity firm Infinite Partners has closed Core Equity Fund II at R2.8 billion (about $168 million), above its R2.5 billion target. All limited partners are South African, including pension funds, insurers, asset managers and banks. The fund backs established mid-market companies valued between R150 million and R2 billion, with individual investments of R100 million to R500 million.
Source: Launch Base Africa · 6 October 2026
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Airlink to launch twice-daily Cape Town to Lanseria flights from December
Airlink will begin flights between Cape Town International and Lanseria International airports on 4 December 2026, twice daily with 98-seat Embraer E190 aircraft, rising to four daily return flights from 22 March 2027. It will be the airline's first scheduled domestic service to Lanseria.
Source: ATTA · 6 October 2026
Monday 5 October 2026
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Electric heavy trucks tested on South African freight corridors in 4,000 km trial
Two production SANY electric trucks completed the Johannesburg to Cape Town leg, about 1,400 km, of the Mzansi EV Truck Super Test 2026, an independent trial of more than 4,000 km run by flxEV with partners including GoMetro and SANY South Africa. A fully loaded Durban to Johannesburg run on the N3 followed on 7 and 8 October. Charging constraints emerged at Colesberg.
Source: Africa PORTS & SHIPS · 5 October 2026
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Tanzania's Fair Competition Commission prohibits the sale of Orca Energy's Tanzanian gas business
The Fair Competition Commission issued a notice on 5 October 2026 prohibiting the proposed sale of PAE PanAfrican Energy Corporation, which indirectly owns PanAfrican Energy Tanzania, to Taifa Gas Tanzania and Amber Energy Investment. Reasons followed on 15 October. The purchasers appealed to the Fair Competition Tribunal on 20 October, and Orca says the transaction has not been terminated.
Source: Orca Energy Group via GlobeNewswire · 22 October 2026
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AfDB signs US$10 million trade finance line with Kenya's Family Bank for SMEs
The African Development Bank and Family Bank signed a US$10 million trade finance facility in Nairobi. It is intended to fund the import needs of SMEs and local corporates in manufacturing, agriculture, healthcare, renewable energy and commerce, including women-owned businesses. Both parties link it to intra-African trade under the AfCFTA.
Sources: African Startups, TechTrends Kenya · 5 October 2026
Sunday 4 October 2026
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Fine Spinners Uganda invests US$5 million in new textile machinery and targets DRC, Zambia and Ethiopia
Fine Spinners Uganda Limited, an integrated textile manufacturer based in Bugolobi, is investing US$5 million in new textile machinery, funded entirely from shareholder equity and retained earnings. The investment is expected to raise production capacity by up to 40 per cent. The company has named the Democratic Republic of Congo, Zambia and Ethiopia as its next African markets.
Source: Capital (Ethiopia) · 4 October 2026
Friday 2 October 2026
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Rwanda's Capital Market Authority brings in new corporate governance regulations
New capital market corporate governance regulations, replacing the 2012 code, took effect on 2 October 2026. The chair and CEO roles must be separate, boards of covered companies must have 7 to 11 directors, and a director may sit on no more than three listed company boards. Annual reports must include sustainability information, whistleblowing details and complaint statistics.
Source: The New Times · 4 October 2026
Thursday 1 October 2026
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Attijariwafa bank agrees to take majority control of Société Générale Ghana
Société Générale Group has agreed to sell its entire 60.22% stake in Société Générale Ghana. Morocco's Attijariwafa bank will acquire 55.22% and become the majority shareholder, while Ghana's Social Security and National Insurance Trust (SSNIT) will take the remaining 5%. The sale is subject to conditions precedent and regulatory approval, and the price was not disclosed.
Sources: MyJoyOnline, Nairametrics · 1 October 2026
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South Africa presents R3.5 billion of tourism projects to investors
At the Tourism Infrastructure Investment Summit in Johannesburg on 1 October, hosted by Minister Patricia de Lille, the government presented 15 opportunities worth about R3.5 billion in accommodation, attractions and infrastructure. Three projects had already secured funding commitments. The 2025 summit featured eight projects with nearly R1 billion in potential investment.
Sources: ATTA (South African Tourism), Travel And Tour World · 10 October 2026
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KawiSafi Ventures invests US$2 million in Orb Energy's Nairobi-based solar business
KawiSafi Ventures, created by Acumen, has invested US$2 million of equity in Orb Energy's Africa business to support its project pipeline in Kenya and East Africa. Orb has installed close to 15MW of rooftop solar in East Africa for more than 60 commercial and industrial customers. KawiSafi's second fund counts the Green Climate Fund among its anchor investors.
Source: African Startups · 5 October 2026
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Africa Go Green Fund commits up to US$18 million for a Kigali cold-storage facility
The Africa Go Green Fund, a KfW initiative managed by Cygnum Capital, is providing up to US$18 million in senior debt to Cold Solutions Rwanda. The financing covers construction and working capital for a facility in the Kigali Prime Economic Zone with initial capacity of 4,000 pallets, expandable to 8,000. It will include storage for temperature-sensitive pharmaceuticals.
Source: African Startups · 1 October 2026