News

Tanzania: Growth prospect entices EABL to increase stake in Dar brewer

Regional beer giant East African Breweries is expected to spend at least USD 18.7 million to purchase an extra stake in Serengeti Breweries, signalling the company’s growing faith in future prospects of the Tanzanian market.

Africa: Apple expands its support to African markets

Apple has announced the launch of its virtual platform App Store across 20 new countries in Africa and Euroasia as part of its strategy to expand to as many markets to serve Apple users better.

Nigeria: Domestic production boosted by USD 1 billion capital market fund

The Bank of Industry has raised an approximately USD 1 billion syndicated facility from the international capital market to catalyse domestic production and job creation across key sectors of the Nigerian economy.

Ethiopia: Economic development plan receives USD 500 million backing

The World Bank has approved USD 500 million in funding to Ethiopia, intended to support the economic development plan of improving the telecom industry, power generation, and supporting the private sector.

Kenya: Gulf Energy shareholders receive USD 94 million in buy-out deal

The French multinational Rubis Energie has acquired Kenya’s Gulf Energy for around USD 94 million deepening its grip on the local oil market.

Uganda: EU to foster trade ties and spur development

Over the next five years, the European Union (EU) is set to invest around USD 710 million in Uganda for trade and investment in the private sector.

South Africa: IFC invests USD 200 million in LSE listed green bond

The Standard Bank of South Africa’s green bond is the largest of its kind in Africa and South Africa’s first such offshore issuance, which will increase access to climate finance.

Kenya: Mahindra starts assembling vehicles

Indian automaker Mahindra has started assembling two commercial trucks in Kenya, becoming the latest global carmaker to start operations in East Africa’s richest economy.

Egypt: Eni, Naturgy clinch deal to reopen Damietta LNG plant

Italy’s Eni and Spain’s Naturgy have reached an agreement with Egypt to resolve a series of disputes over the Damietta gas liquefaction plant, paving the way for the facility to restart by June.

Zambia: AGR launches new agricultural funding scheme

The African Green Resources (AGR), has launched a USD 81 million financing programme to provide farm supplies and technology to farmers in exchange for grains.

Ethiopia: Japan tech firms secure geothermal project

Japanese technology companies, Toshiba and Toyota have secured a deal for the engineering, procurement and construction of the 20MW Aluto Langano Geothermal Wellhead Power System in central Ethiopia.

Malawi: NBM eyes majority stake in Tanzanian bank

In its bid to expand business operations, the National Bank of Malawi (NBM) has reached final stages to acquire a 75 percent stake in the Tanzanian bank, Akiba Commercial Bank

Uganda: Chinese firm to develop 500MW solar plant

The China Energy Engineering Group Company has announced plans to develop a 500MW photovoltaic power generation project, the largest in Uganda, at an estimated cost of USD 500 million.

Angola: ANPG to bid for 50 new blocks for oil prospecting

Angola’s National Oil, Gas and Biofuels Agency plans to auction off 50 new oil exploration blocks as part of a strategy to re-launch and increase its national oil production by 2025

RDC : Avec General Electrics, les capitaux américains font leur grand retour dans le pays

Le géant américain General Electrics s’est engagé à investir plus d’un milliard de dollars US en RDC, principalement sur le barrage Inga et dans le domaine de la santé.

Djibouti : Lancement d’un projet de parc éolien dans le Ghoubet

Premier du genre dans le pays et avec une capacité de production de 60MW, le futur parc sera notamment financé par Africa Finance Corporation et Great Horn Investment.