In association with African Business Magazine, market leaders in providing country supplements, industry reports and market intelligence on Africa.
Tunisian expense management platform secures $20m
Expensya, an automated spend management solution for businesses, has concluded a $20m fundraising. Two new funds, MAIF Avenir and Silicon Badia, have invested in the development of the fintech platform, joining ISAI and Seventure, two funds that were involved in the previous round.
KCB buys banks from Atlas Mara
KCB Group is to acquire two banks in Rwanda and Tanzania from Atlas Mara for a total of $56m. The proposed transaction will see KCB acquire Banque Populaire du Rwanda (BPR) and African Banking Corporation Tanzania (BancABC).
IFC invests in South African student accommodation platform
The IFC has invested $10.7m in a South African student accommodation investment platform managed by real state fund manager Eris Property Group. Seperately, the IFC has provided Africa’s first ever certified green loan to Absa Bank to fund renewable energy projects in the country. They will lend $150m which Absa will on-lend to finance biomass and other renewable energy projects in South Africa.