Breaking Business and African Startup news today which Includes: US suspends South Africa and Rwanda from AGOA trade deal, EASE Holdings BV secured an additional $9.5 million in equity funding, New Electric Vehicle sales Surge, Brent crude fell sharply on Monday -settling near $105, Petra Diamonds’ shares suspended, Aspen Pharmacare to sell the European commercialisation rights for its women’s health product Ovestin, Bitcoin prices have fallen to below $77 000, and Egypt on Monday, raised more than $650 million in its initial public offering of the state-owned Banque du Caire.
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energySouth Africa's first gas-to-power procurement round has ended without awarding any contracts after four bidders failed to demonstrate sufficient guarantees of natural gas supply, delaying government plans to introduce 2,000 megawatts (MW) of new electricity generation capacity.
motoringToyota's latest Hilux is still finding its feet in the market, but the company is already preparing a sportier version for 2027. The new Hilux GR-Sport has been confirmed for overseas markets and will be built in right hand drive.
fintechEgyptian fintech company Khazna has acquired Pharos Consumer Finance, securing a consumer finance licence that will allow it to expand regulated lending services to customers underserved by traditional banks.
fintechKenyan fintech Cloud9 has acquired ticketing platform M-Tickets and social commerce startup Chpter as it expands beyond digital banking into the transactions businesses already carry out every day.
sme-sA customer sends a WhatsApp message asking for a price. You reply asking for a few details. They send some information, but you still need the measurements, delivery address or a clearer description of the work. You ask again and wait.
energyIndependent workshops, lubricant distributors and businesses supplying the transport industry have a reason to watch Castrol's change of ownership. The lubricant brand is now majority-owned by US investment firm Stonepeak after it completed the purchase of a 65% stake from BP.
energyInstalling solar systems is not the only way to make money in Nigeria's renewable energy market. Some installers are looking at equipment sales and distribution as another source of income, but moving into that side of the business requires money to buy stock.
start-upsNew agreements involving Dawa Mkononi, MYDAWA, Meditect and Sproxil target pharmacy financing, chronic disease management, access to medicines and digital pharmacy regulation across Africa.
motoringA dealership can spend months trying to sell a customer a car, but what happens after the customer drives away is just as important.
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