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Somalia: Ethiopia Targets Somali-Owned Money Transfer Companies in U.S., Calls for Investigation Into Alleged Financial Sabotage

100% Center coverage: 1 sources

Addis Ababa / Washington D.C. / Minneapolis - In a move that has sent shockwaves through East African diaspora communities in the U.S., the National Bank of Ethiopia (NBE) has publicly called for an investigation into four U.S.-based money transfer companies, many of which are Somali-owned or serve Somali and Ethiopian diaspora clients.Business · Ethiopia See the Story

NECO Temporarily Shuts Portal for Maintenance, Leaving Candidates Stranded - Innovation Village | Technology, Product Reviews, Business

Thousands of applicants, schools, and stakeholders across Nigeria were caught off guard when the National Examinations Council (NECO) abruptly shut down its platform for maintenance. Without providing a definite reopening date, NECO announced that all of its exam portals would remain temporarily unavailable. This move left many stranded, unable to access essential services such as verification, result checking, and registration. In a notice post…Nigeria · Nigeria Read Article

Flood secures additional $2.5M seed funding to accelerate global expansion - Innovation Village | Technology, Product Reviews, Business

Flood, a pioneering superapp-as-a-service platform, has successfully raised an additional $2.5 million in seed funding to fuel its next phase of growth. This latest round, led by venture capital firm CRE.vc and supported by a group of strategic angel investors, builds on the company’s earlier $1 million seed round completed in July 2024. The new capital will be used to fast-track Flood’s market entry strategy, deepen its partnerships with teleco…Floods · South Africa Read Article

Mediterrania invests $59M in Dislog Dispositifs Médicaux to accelerate healthcare innovation - Innovation Village | Technology, Product Reviews, Business

Mediterrania Capital Partners (MCP), a leading private equity firm focused on growth investments in North and Sub-Saharan Africa, has announced a significant investment in Dislog Dispositifs Médicaux (DDM), the healthcare division of Morocco’s Dislog Group. The investment, totaling MAD 540 million (approximately USD 59 million), was made in partnership with CDG Invest Growth, marking a major milestone in the development of Morocco’s medical devi…Morocco · Morocco Read Article

EBRD invests $80M to drive growth in North Africa’s mid-cap sector - Innovation Village | Technology, Product Reviews, Business

The European Bank for Reconstruction and Development (EBRD) has announced a commitment of up to US $80 million as a founding investor in North Africa Fund III (NAF III), a private equity fund managed by RMBV. This marks RMBV’s first independently managed fund since its transition to independence in 2019. RMBV said in a statement: This $80 million commitment to our new fund NAF III is a strong vote of confidence in our strategy – one focused on …Egypt · Egypt Read Article

Appleby Mauritius Advises The EAAIF On Its USD 100m Borrowing From Export Finance Australia. - Conventus Law

Appleby is privileged to continue its support to The Emerging Africa & Asia Infrastructure Fund (EAAIF) in its commitment to ‘drive finance where it’s needed most, supporting businesses and communities with critical infrastructure in underserved markets ”. The Appleby Mauritius team led by partner Sharmilla Bhima has advised The EAAIF, managed by Ninety One, on all aspects of Mauritius law in connection with its USD 100 million borrowing from Th…Finance · Port Louis See the Story

MTN now most valuable company in Nigerian stock market after capitalisation hits N10trn

MTN Nigeria’s market capitalisation has crossed N10 trillion after the telecommunications company’s (telco) share value appreciated by 16.9 percent between Monday and Friday.The telco is the second company to cross the N10 trillion mark after Dangote Cement’s valuation reached N12.8 trillion in January 2024.As of Monday, MTN’s capitalisation was N8.62 trillion, however, at the end of trading on Friday, the telco’s valuation grew to N10.07 trilli…Stock Markets · Nigeria See the Story

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