Breaking Business and African Startup news today which Includes: Lightrock Africa Growth Fund II draws fresh $15 million commitments, Budget In Ghana Targets Growth and Expansion, Mining Production Output Falls in South Africa, Volkswagen Group Africa has commenced with the production of the group's new Tengo SUV, and Spar Group have appointed Lwazi Koyana as its chairman.
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energyBP has acquired a 60% stake in three offshore exploration licences in Namibia's Walvis Basin, taking over operatorship and planning 3,000 sq. km of new seismic surveys ahead of potential drilling.
Business SchoolA small business can win a R150,000 order and still struggle to pay for the materials, wages and transport needed to complete it. When customers pay 30 or 60 days after delivery, suppliers must find the money to keep the work moving.
start-upsVillgro Africa is selecting six medtech startups from six East African countries for a 24 month programme offering technical and business support to advance medical devices, improve product development and prepare healthcare innovations for commercialisation.
fintechNigeria's Senate has passed proposed legislation that would give the Central Bank greater oversight of major fintech companies. The changes could bring stricter compliance requirements and higher operating costs for large payment providers, mobile money operators and digital lenders.
start-upsGhana has launched free ICC-TikTok Digital Commerce Labs to help young entrepreneurs and small businesses develop digital marketing, e-commerce, social commerce and financial literacy skills, with support aimed at extending training to rural businesses.
logisticsLagos has received 11 more electric buses from Oando as it works towards a 552-bus fleet. The bigger task will be building the charging, maintenance and technical support needed to keep them running across the city.
TechnologyEthiopia has launched the Pan-African AI Ventures Residency Programme in Addis Ababa, bringing 51 artificial intelligence innovators from 12 African countries together to develop AI products under a partnership involving UNDP, Addis Ababa University and Japan.
investmentsGhana has secured $137 million for a ship repair facility at the Port of Takoradi. Project Shiprite aims to give shipping companies in the Gulf of Guinea access to specialised maintenance closer to their routes, while creating potential work for local engineering firms, suppliers and transport operators.
fintechEgyptian fintech MNT-Halan has joined the Cairo stock market after an IPO that attracted strong investor demand. Its listing marks another funding route for African fintech businesses looking to grow beyond venture capital and private investment.
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