Retail
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Angola fresh, frozen food retailer Newaco opens new Fresmart store as part of expansion plan
ANGOLA – Newaco group, Angola’s largest distributor of fresh and frozen food, has invested about K180 million (US$420,000) in the opening of a new Fresmart…
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African-focused investors Tana Africa, Sango Capital back Nigerian grocery retailer Sundry Markets
NIGERIA – Sundry Markets, one of Nigeria’s fastest growing modern grocery retailers has received a minority investment from Africa-focused investment companies Tana Africa Capital and…
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Shoprite clinches US$205m loan from Standard Bank, RMB to drive sustainability agenda
SOUTH AFRICA – Africa’s largest retailer Shoprite, has secured R3.5 billion (US$205m) in loans to be channelled towards expanding its key environmental programmes as part…
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Retail-tech startup Omnibiz secures US$15m pre-Series A round to accelerate growth
NIGERIA – Omnibiz, a retail-tech startup, has secured a US$15 million pre-Series A round of funding led by Timon Capital to accelerate retailer growth and…
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Giant retailer OK Zimbabwe seeks to unbundle business into group of companies
ZIMBABWE – Zimbabwe Stock Exchange (ZSE) listed retail outlet, OK Zimbabwe, has hinted at restructuring of the company that would entail unbundling into a group…