The Africa Venture Philanthropy Alliance (AVPA) has launched Africa’s first Catalytic Pooled Fund, valued at Sh1.6 billion, to boost investment in mental health across the continent. This initiative aims to unlock private capital for a critical yet underfunded area during AVPA’s 2025 Annual Conference in Nairobi.

• The fund, worth Sh1.6 billion, will support high-impact mental health programs.
• Developed in partnership with the Coalition for Mental Health Investment (CMHI), including the Clinton Global Initiative and Wellcome Trust, led by AVPA Chief Executive Officer Dr. Frank Aswani.
• AVPA also signed a strategic partnership with the International Development Innovation Alliance (IDIA) to mobilize new funding sources and promote blended finance models.

KCB Group PLC has signed an agreement to acquire a minority stake in payment service provider Pesapal Limited, aiming to boost SMEs and digital growth across Africa.

• The investment will combine KCB's financial infrastructure with Pesapal's technology to drive inclusive commerce.
• Pesapal operates in Kenya, Uganda, Tanzania, Rwanda, and Zambia.
• This move follows KCB's recent acquisition of a majority stake in Riverbank Solutions Limited, further expanding its fintech footprint.

OpenAI, the company behind ChatGPT, has signed a significant $38 billion cloud computing deal with Amazon, further diversifying its computing power sources and reducing its reliance on Microsoft.

• The seven-year agreement provides OpenAI access to Nvidia graphics processors for training its artificial intelligence models.
• This deal follows a recent restructuring of OpenAI, giving it more operational and financial freedom from Microsoft.
• Amazon shares hit an all-time high after the announcement, adding $140 billion to its valuation.