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Tanzania’s Sumet Technologies has secured $1.5 million in pre-seed funding to enhance its FMCG distribution operations across the country. The investment, from a mix of angel investors, will support the company's mission to facilitate market entry for new brands and optimize supply chains throughout Africa. CEO Hazem Afify emphasized the importance of this funding in strengthening their technology and expanding their market presence.
Nordea shareholders overwhelmingly rejected a proposal to halt fossil fuel lending, with 95.36% voting against it. The bank has provided $641 million in loans to upstream oil and gas companies over two years, despite being part of the Net-Zero Banking Alliance. Critics highlighted Nordea's financing of the controversial East African Crude Oil Pipeline and called for a shift away from fossil fuel investments, but the bank's leadership emphasized the need to support Norway's oil and gas economy.
Baker Hughes is capitalizing on the growing demand for data centers driven by generative AI, offering off-grid power solutions through its NovaLT turbines. The company anticipates significant growth in its Climate Technology Solutions, targeting $6 billion to $7 billion in orders by 2030, while aiming for 20% EBITDA margins by 2026 through improved pricing and productivity.
Egyptian pharma-tech startup Grinta is expanding into primary healthcare through its acquisition of Citi Clinic, a chain that serves over 150,000 patients. This strategic shift from B2B distribution to direct patient care is supported by funding from Beltone Venture Capital and Raed Ventures. Grinta also plans to establish a pharmacy chain in Tanzania and develop export partnerships with Egyptian pharmaceutical manufacturers.
AliExpress has expanded its local payment options across several African countries, allowing shoppers in Egypt, South Africa, Algeria, Ethiopia, Morocco, and Tanzania to transact in their national currencies. This initiative aims to enhance cross-border e-commerce by reducing transaction friction and improving payment security. The expansion coincides with a major promotional event and is part of AliExpress's broader efforts to improve logistics and customer experience in Africa.
Kenyan re-commerce startup Badili has secured $400,000 in debt funding from Proparco to enhance its refurbished electronics initiative. Founded in 2021, Badili repairs and reintroduces used mobile phones in Kenya, Tanzania, and Uganda, providing affordable access to top-tier brands while promoting sustainability and reducing electronic waste. CEO Rishabh Lawania expressed optimism about the company's growth and expansion across Africa.
Mintoak, a Mumbai-based fintech startup backed by PayPal, has acquired Digiledge for $22.9 million. Digiledge, specializing in bill payments and Central Bank Backed Digital Currency (CBDC), will operate as a subsidiary, enhancing Mintoak's offerings to small enterprises.Mintoak, which processes $3.4 billion monthly for three million merchants, aims to leverage Digiledge’s capabilities to facilitate digital currency transactions and expand its services further, having already extended its reach to Kuwait, UAE, Tanzania, and Mauritius.
Helium One's share price outlook for 2025 hinges on its ability to transition from exploration to production amid rising global helium demand and supply constraints. Successful commercialization of reserves, strategic partnerships, and favorable market sentiment could drive significant price appreciation, while setbacks may lead to declines. Investors should remain cautious of the inherent risks in early-stage resource exploration.
The report offers a comprehensive analysis of the Sanitizing Agents market, detailing current trends, competitive landscapes, and growth opportunities. It includes insights on market size, regional developments, and the impact of global events like the COVID-19 pandemic and geopolitical conflicts. Stakeholders can leverage this information to make informed investment decisions and strategize effectively in a competitive environment.
In July 2022, Angola awarded a 30-year railway concession to a European consortium, rejecting a Chinese bid, while the US government announced over $560 million in funding for the Lobito Corridor project, aimed at enhancing mineral transport from Central Africa. President Biden emphasized the project's potential to drive economic growth and create jobs, while regional leaders highlighted the importance of local processing of minerals to benefit their economies. The Lobito railway, historically significant but troubled, is being revitalized to connect Zambia's copper mines to the coast, competing with Chinese infrastructure efforts.
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The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
Tanzania's Sumet Technologies secures 1.5 million dollars for FMCG expansion
10:00 28.03.2025
nordea shareholders reject fossil fuel lending resolution amid growing criticism
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15:11 20.03.2025
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01:00 18.03.2025
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