IFC Venture Capital Leads $8.6m Series A Investment in Africa’s Talking

IFC, a member of the World Bank Group, today announced that it led the $8.6 million Series A equity investment in Africa’s Talking, a Kenyan based communication-platform-as-a-service (“cPAAS”) API startup, to enable the startup to expand its footprint across the continent. As part of the deal, Wale Ayeni, who leads IFC’s venture capital activities in Africa will join the board; other investors in the round include global venture capital funds, Orange Digital Ventures and Social Capital.

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NSE promotes Earth Day, signs Corporate Recycling MoU with RecyclePoints

The Nigerian Stock Exchange (NSE) is pleased to announce that it has signed a Memorandum of Understanding (MoU) with RecyclePoints Limited for the collection and recycling of waste materials generated at The Exchange’s offices. This initiative is also a demonstration of the Exchange’s effort to ‘End Plastic Pollution’, which is the theme of this year’s Earth Day, celebrated globally on April 22, every year.

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EIB, AfDB to support private sector investment in Nigeria with Development Bank of Nigeria backing

The European Investment Bank and the African Development Bank have agreed to support the creation of the new Development Bank of Nigeria to strengthen lending for business and agriculture investment in the country. The European Investment Bank has finalized a US $20-million equity stake in the new financing institution, alongside US $50-million equity participation from the African Development Bank.

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EIB, IMF join forces to build capacity on financial inclusion and stability in Africa

The European Investment Bank (EIB), the EU Bank, and the International Monetary Fund (IMF), have signed a Letter of Understanding to pool their expertise and experience to promote sustainable economic development, financial stability and inclusive growth in Africa. The EIB will contribute with EUR 3m to IMF economic institutions, namely the African Regional Capacity Development Centers (AFRITACs) and the Financial Sector Stability Fund (FSSF), and will launch a new course with the IMF on financial intermediation and financial inclusion. As well as funding, the EIB will provide guidance to the AFRITACs and FSSF by participating in their governing bodies.

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