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Week commencing 23 September
West African private equity firm Verod Capital Management has acquired 100% of Metropolitan Life Nigeria for an undisclosed amount. The acquisition sees Momentum Metropolitan exit the Nigerian market in line with its reset and grow strategy.
AVCA 17 September
Chipper Cash, a Ugandan money payment firm, has partnered with Paystack, a Nigerian fintech start-up providing payment tools to businesses across Africa. Chipper Cash is expected to leverage Paystack’s payment gateway infrastructure to provide mobile money services to and from Nigeria.
Liquid Africa 16 September
Danish SDG Investment Fund has invested $6.67m in Africa Education Holding. The investment was made in co-operation with Finnfund from Finland and Proparco from France. Africa Education Holding offers affordable programmes in labour market-relevant studies in medicine, business, IT, law and social sciences.
Liquid Africa 18 September
Kenya attracted a record $1.4bn investment in renewable energy last year, the third highest in the Middle East and Africa, entrenching its shift from expensive sources of electricity. A UN report that tracks global trends in energy investments showed that Kenya overtook Egypt, the UAE, Jordan and Rwanda to join the top six centres of green energy.
Daily Nation 18 September
The Moroccan integration of energy efficiency project in the building sector has received $22m in financial aid from Nama Facility, an international climate finance programme that seeks to encourage “ambitious action on climate change”.
Morocco World News 19 September
Toronto based Ecopia Tech has received $6.5m to digitally map sub-Saharan Africa. Digital maps are used used to improve economic efficiency, help with urban planning and in monitoring the environment. Ecopia Tech aims to map an estimated 342-million buildings, 2.36-million linear miles of roads and 1.43-billion acres of forests.
Liquid Africa 17 September