VENTURE CAPITAL POST

Cape Town, South Africa-based startup accelerator 88mph is expanding to Lagos, Nigeria to begin a new venture with seed funding specialist L5Lab to fund startup programs.

Lisec Group disclosed expansion plans directed to entering the Nigerian glass market, reported Ventures Africa.

Kenya's investment firm TransCentury has sold 34 percent of the stake it holds in Rift Valley Railways to Citadel, reported Ventures Africa.

Kenya-based wearable tech startup CladLight created the Smart Jacket, a wearable jacket with modified reflector and transmitter, to make motorbike driving more stable and help reduce the number of accidents in the country.

US tech giant Microsoft selected five African tech startups to receive innovation grants, technical support, and mentorship from Microsoft under its venture arm extension, the Microsoft 4Afrika Initiative.

General Electric Co Chief Executive Officer Jeffrey Immelt has asked private investors to pour more funds in African nations where government-run services have been strained, Bloomberg reported.

Nyeri County and Karatina University in Kenya are working on a project that can turn sewage into biogas that can power the local water pumps and reduce electricity costs.

German investment firm DEG bought a stake in Kenyan Chase Bank worth USD10 million. Chase said DEG's investment will be used to finance their expansion, including the creation of new outlets.

Kenya's Treasury Secretary Henry Rotich confirms the sale of as much as USD2 billion worth of Eurobonds for the country's debt payments and energy projects.

The city morgue of Nairobi had readied itself to receive more dead bodies from the mall attack in Nairobi, Kenya.

President Uhuru Kenyatta's office said Africa's richest man Aliko Dangote would invest in a USD 400 million cement factory in Kenya.

A grant-loan from the Belgian government would expand the water and sanitation services in Iten, Kenya.

Kenyan President Uhuru Kenyatta revealed that his government will be constructing a temporary terminal that will hold 2.5 million passengers.

Home Afrika is set to create REITs that would finance several property projects in Sub-Saharan Africa.

The Energy Regulatory Commission said that the country needs to improve its energy sector.