Everlectric, a South African 🇿🇦 commercial electric vehicle startup, has secured debt funding from the Vumela Fund to scale its business, offering maintenance leases for battery electric vehicle vans to logistics providers 🚀. Co-founder Ndia Magadagela called the funding a key growth catalyst. The Vumela Fund, supporting Black-owned SMEs, helps businesses transition to electric vehicle fleets, tapping into South Africa’s growing EV market 🤝. In January 2025, African 🌍 startups raised $289 million in $100,000+ deals, a 240% increase from January 2024 🙌. Equity deals accounted for $262 million, the second-best January since 2019. Key investments included LemFi’s $53 million for global expansion, PowerGen’s $50 million for renewable energy, and Naked’s $38 million Series B. This strong start reflects growing investor confidence in Africa's evolving fintech, cleantech, and edtech sectors 📈. Tanzania 🇹🇿 will exclusively use the Tanzanian Shilling for all local transactions starting July 1st. The Bank of Tanzania is amending regulations to prohibit foreign currencies for business, aiming to protect monetary policy, reduce inflation, and reserve foreign currencies for essential imports 🎯. Commercial banks have been instructed to halt foreign currency use for goods, services, taxes, and fees 🏦. South African 🇿🇦 company Altron's share price rose from R9.90 to R21 over the past year, driven by a focus on profitability and offloading subsidiaries. In its half-year results for August 2024, Altron reported a shift from a R315 million loss to a R276 million profit, with strong growth in its Platforms segment 📈. CEO Werner Kapp’s leadership has restored investor confidence, and Altron is on track to meet its medium-term growth targets by FY26 🎯.