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Nairobi-based financial services provider Octagon Africa has completed the purchase of a 49 per cent shareholding in Alexander Forbes Financial Services Zambia. This follows an announcement on [...]

ACWA Power signed a 20-year deal to supply 250 megawatts of solar power in Ethiopia, enough for about 750,000 homes. The power purchase agreement was struck with Ethiopia’s state-owned [...]

Olam International Ltd. has sold a 10% stake in Arise Industrial Zones to Africa Finance Corp. for $59 million in cash. The sale was part of the reorganization of Gabon’s Special Economic [...]

11 Plc finalized discussions with Asset Management Company of Nigeria to acquire hotel through a unit, it says in statement published on Nigerian Stock Exchange website. * Acquisition in line [...]

EFG Hermes and GB Auto, through units, will buy 37.5% stake each in life insurance firm Tokio Marine Egypt Family Takaful in deal worth 84.75m Egyptian pounds ($5.3m), the companies say in a [...]

Barclays Bank of Kenya single-stock futures to be offered for trading following review of NSE 25-Share Index, Nairobi Securities Exchange says in emailed statement. * NOTE: July 5, Kenya Ends [...]

U.K.’s development finance institution sells about 74.6m shares of Development Finance Co. of Uganda to Investment Fund for Developing Countries, DFCU says in a statement in New Vision newspaper. [...]

African cross-border fintech startup Chipper Cash has raised a $6 million seed round led by Deciens Capital. The San Francisco-based company offers mobile-based, no fee, P2P payment services in [...]

International Finance Corp. arranged a syndicated loan of $70 million for Umeme Ltd. to enable the Ugandan power distributor to expand its network and deliver electricity to more homes and [...]

Copia Global, an e-commerce firm giving underserved Kenyans in rural areas access to goods they’d normally have to travel for, has raised a $26 million investment led by LGT Lightstone. Copia [...]

Pan-African digital classifieds company Jiji has raised $21 million in Series C and C-1 financing from six investors, led by Knuru Capital. The Nigeria based venture, co-founded by Ukrainian [...]

Nedbank Group Ltd. agreed to sell its Malawian unit to MyBucks SA’s subsidiary in the country for an undisclosed amount after carrying out a review of operations in the southern Africa region. A [...]

Allied Electronics (Altron) has entered into a R360-million deal to buy identity security provider Ubusha Technologies to strengthen its existing capability in the information technology (IT) [...]

Farmshine has received Sh25 million from US-based impact investor Gray Matters Capital (GMC) to expand operations. Through its gender lens sector agnostic portfolio GMC coLABS, it said Farmshine [...]