MTN's IHS Towers Deal, Moove's $250M Raise and TeamApt's Pension Platform

TeamApt has partnered with digital pension platform Awabah to launch 'Pension Direct', a micro-pension solution for self-employed and informal-sector workers.

The solution utilizes TeamApt's Direct Debit infrastructure to automate recurring pension contributions via web platforms and POS terminals.

Dangote Industries Namibia has applied for an Environmental Clearance Certificate (ECC) to subdivide 70 hectares of land in Walvis Bay for a proposed petroleum storage terminal.

Shareholders of IHS Holding Limited (IHS Towers) approved the proposed MTN takeover during an Extraordinary General Meeting held on August 4.

The acquisition aligns with MTN's Ambition 2030 strategy to control physical digital infrastructure supporting mobile, cloud, and AI services across its 19 African markets.

President John Dramani Mahama announced the proposal to expand the African Continental Free Trade Area (AfCFTA) during a state visit to Kingston, Jamaica.

Ghana plans to champion this trans-Atlantic trade integration when it assumes the Chairmanship of the African Union (AU) next year.

The International Monetary Fund projects Gabon's public debt-to-GDP ratio will rise from 70.9% in 2024 to 94.3% in 2027.

Gabon recently raised $920 million through a 7-year Eurobond with a 9.375% coupon, adding debt service liabilities through 2033.

Dangote Petroleum Refinery has submitted an initial application to the Securities and Exchange Commission to list on the Nigerian Exchange.

The refinery aims to raise $5 billion, which would represent over four percent of the exchange's current market capitalisation.

Moove secured $250 million in Series C funding led by Mubadala Investment Company, elevating its valuation to $2.1 billion.

Founded in 2020 by Nigerian entrepreneurs, the company has scaled to manage 42,000 vehicles across 13 countries, bringing in $420 million in annual recurring revenue.

Coronation Infrastructure Fund is offering up to 186.9 million units at N107.00 per unit to raise up to N20 billion under its N200 billion Shelf Programme.

The fund, regulated by the Securities and Exchange Commission, targets long-term debt financing for transportation, telecommunications, energy, real estate, and social infrastructure.

The ECOWAS Bank for Investment and Development (EBID) and Coris Holding SA have signed an €80 million financing agreement targeting West African markets.

The credit facility is designed to strengthen the refinancing and lending capacities of Coris Holding's banking subsidiaries across the sub-region.

Coronation Insurance Plc and Coronation Life Assurance Limited successfully raised ₦9.2 billion through an oversubscribed private placement of 4.2 billion ordinary shares.

The Emerging Africa and Asia Infrastructure Fund (EAAIF) has announced $82.8 million in private debt commitments for African digital infrastructure.

Eastcastle Infrastructure DRC receives a $32.8 million loan to construct 728 telecom towers, expanding its DRC network to 1,800 towers.

Liquid Intelligent Technologies secures a $50 million loan, as part of a $450 million package, to optimize its 110,000-kilometer fiber network across 25 countries.

The Director of Public Prosecutions (DPP) has charged the CEOs of NCBA, KCB, and Co-operative Bank for failing to report suspicious transactions under anti-money laundering laws.

NITDA Director-General Kashifu Inuwa Abdullahi signed three regulatory instruments: the National Cloud Computing Guideline, National Cloud Technical Guideline, and National Digital Infrastructure Assurance Framework.

The agency unveiled the National Cloud Investment Strategy and will set up the Sovereign Cloud Governance Committee (SovGov) within two weeks to provide strategic oversight.