Author: Elan

Cairo, Egypt** For the best experience, download the free Africa Private Equity News app Android | iOS **A consortium comprising SPE Capital, Tanmiya Capital Ventures (TCV), the European Bank for Reconstruction and Development (EBRD) and British International Investment (BII) has agreed to sell Tamweely to e-Finance for Digital and Financial Investments.Tamweely is an Egypt-based non-bank financial services company that provides financing and related services to micro, small and medium-sized enterprises (MSMEs).Completion of the transaction remains subject to regulatory approvals.The consortium acquired Tamweely in December 2024. During its ownership, the company opened 45 new branches, taking its network to more than…

Today, U.S. Senators Jeanne Shaheen (D-NH), Ranking Member of the Senate Foreign Relations Committee,  Cory Booker (D-NJ), Ranking Member of the Subcommittee on Africa & Global Health Policy, Jeff Merkley (D-OR) and Chris Van Hollen (D-MD) issued the below statement calling for peaceful, fair elections ahead of the August 13th elections in Zambia. “The United States values its long-standing partnership with Zambia. Over the last two decades, the United States and Zambia have partnered on peacekeeping, the U.S. President’s Emergency Plan for AIDS Relief (PEPFAR) programming and democracy initiatives that have improved global health, stability and social mobility. Although this partnership…

Moove, a Nigerian-born mobility company, has joined Africa’s growing list of unicorns after raising $250 million in a Series C funding round that valued the company at $2.1 billion. The funding round, led by Mubadala Investment Company and co-led by Woven Capital, Toyota’s growth fund, and Ion Pacific, marks a significant increase from Moove’s last disclosed valuation of $750 million in 2024. According to Africa: The Big Deal, Moove’s new valuation places it among the three most valuable African private technology companies with recently disclosed valuations, behind fintech companies, Flutterwave at $3.2 billion and OPay at $3.1 billion. Founded in…

Sokoto — The National Onion Producers, Processors and Marketers Association of Nigeria (NOPPMAN), has called on ECOWAS to urgently intervene in the continued restriction of Nigerian and Nigerien onion trucks at Kotoku Market in Ghana. In a press conference in Sokoto, the National President, Aliyu Isah Maitasamu said the protracted delays were inflicting huge financial losses on exporters and transporters while exposing highly perishable onions to deterioration. He said NOPPMAN acknowledged and appreciated the efforts of the Governments of Nigeria and Ghana to resolve the matter. It specifically commended the Honourable Minister of Industry, Trade and Investment of Nigeria and…

In brief Solana trades at a $75.06 price, down 1.22% on the day, holding just above its 50-day moving average. The daily chart paints a formation traders refer to as a death cross, a classic bearish indicator. Prediction-market traders on Myriad price a dump to $40 at 69%, against a pump to $160 at 31%. Solana has risen up the ranks of the crypto market charts over the last few years, but the bear market has taken a toll—and the broader macro environment isn’t give SOL much of a tailwind.Bitcoin is trapped between roughly $62,000 support and $67,000 resistance after…

MTN Group is making more money from its core telecom business, but its profits are heading in the opposite direction. Africa’s largest telecom operator expects headline earnings per share to fall by as much as 30% in the first half of 2026, even as its underlying earnings rise by up to 23%. The reason is Iran. A large impairment on MTN’s 49% stake in Irancell, an Iranian telecom operator, alongside foreign exchange losses and hyperinflation, is dragging down headline earnings despite stronger underlying performance, according to the company’s trading statement on Tuesday. MTN’s underlying earnings are expected to rise by…

Valve’s Linux push can look almost inevitable in hindsight. Proton lets SteamOS run Windows games, the Steam Deck turned SteamOS into something people actually buy on purpose, and Valve followed it with a new Steam Machine for 2026. Linux gaming still has plenty of rough edges, but we’ve come a long way from the days when installing Linux meant accepting that most commercial PC games simply weren’t coming with you. More than a decade before Valve brought Steam to Linux, a small company in Tustin, California, tried to change that in the expensive way. Loki Software licensed Windows games from…

Economic autonomy 2025 was a record year for sovereign wealth funds on the continent, and the trend is continuing in 2026. Beyond the headlines, do these increasingly popular vehicles have the means to fulfil their ambitions? By Alix Lavoué Kenyan President William Ruto signing the Sovereign Wealth Fund Act into law in Nairobi on 8 July 2026 © William Ruto/Kenya Presidency Published on August 11, 2026 at 16:00 pm (GMT +1) The Democratic Republic of Congo in June 2025, then Côte d’Ivoire, Burkina Faso and Kenya in April, May and July 2026, respectively. Within a few months, a number of…

Wandia GichuruInterview with Wandia GichuruCO-FOUNDER & CEO, VIVO FASHION GROUPLives in: Nairobi“I don’t come from a fashion background, so I tend to approach things purely from a business perspective,” says Wandia Gichuru, founder and CEO of Vivo Fashion Group, a Kenyan clothing manufacturer and retailer.“We try to focus on what the market wants. We work backwards – starting from a price point we think will work and then calculate whether we can produce the garment within that price,” she explains.Vivo currently operates twenty-nine stores across Kenya, Rwanda and Uganda, and also owns the e-commerce marketplace ShopZetu. While the company aims…

The young disruptors making their mark in African business – African Business The young disruptors making their mark in African business – African Business