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Angel Investors Plan Rare SPAC Targeting African Tech Startups

A pair of early-stage investors, who have made fivefold returns funding African startups since 2017, said they plan to list a blank-check company targeting technology companies from the [...]

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Savannah Cement of Kenya Plans $350m Bond in London

Cement maker to use proceeds it plans to raise from sale on London Stock Exchange to build clinker production plant, Standard newspaper reports, citing Savannah Cement CEO Samson Shivina. Plant [...]

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Heineken May Sell S. Africa Strongbow Stake in Distell Deal

Heineken may sell its stake in Strongbow cider in South Africa to avert competition concerns in its bid to buy local spirits maker Distell, Business Day reports citing a note to shareholders by [...]

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Coca-Cola HBC acquires 53% stake in Coca-Cola Bottling Co of Egypt

Coca-Cola HBC AG announced on Thursday it has completed the acquisition of a 53% interest in Coca-Cola Bottling Co of Egypt SAE for USD304 million in cash. The Steinhausen-based Switzerland-based [...]

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Ethiopia Signs $121 Million of Coal-Mining Agreements

Agreements worth 6 billion birr ($121 million) signed with eight companies, including ET Mineral Development, National Mining Corporation and Sun Mining & Trading, spokesperson for Ethiopia’s [...]

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Deutsche Bank Closes Ghana Funding Deal Worth 184 Million Euro

Deutsche Bank closed a lending facility of 184 million euros together with the U.K. Export Finance and African Export-Import Bank to finance phase two of the Kumasi Market redevelopment project [...]

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Equity takes Sh18bn IFC loan days after buy-in

The International Finance Corporation (IFC) is set to lend the Kenyan banking subsidiary of Equity Group $165 million (Sh18.6 billion), marking one of the largest single credit facilities to a [...]

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Ghana SPV Plans IPO to Redeem State’s Investment in Local Banks

Ghana Amalgamated Trust, a state-owned special purpose vehicle dedicated to rescuing troubled lenders has proposed an initial public offering to raise funds to redeem government’s 800 million [...]

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China Group Seeks Partner for $620m Stuck Uganda Project

Guangzhou Dongsong Energy Group wants to unlock a project with an annual fertilizer production target of 300,000 tons, Kampala-based New Vision newspaper reports, citing Changmin Lee, the Ugandan [...]

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Rwanda Secures Another U.S.$100 Million for Digital Projects

The loan agreement was signed between the Ministry of Finance and Economic Planning and the bank on December 23. Rwanda has borrowed more $100 million from Asian Infrastructure Development Bank [...]

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Teesas raises $1.6m to bridge educational gap through technology in Africa

Teesas, an EdTech startup, says it has closed a pre-seed round investment of $1.6 million to bridge the educational gap through tech. The funding round was led by Haresh Aswani of the Tolaram [...]

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Egypt to join BRICS New Development Bank

BRICS New Development Bank (NDB) announced Wednesday that it will add Egypt as its new member. Headquartered in Shanghai, the NDB was established by Brazil, Russia, India, China, and South [...]

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Adenia and Proparco acquire Overseas Catering Services

Adenia Partners, a private equity firm investing in Africa, has partnered with Proparco, the private sector financing arm of Agence Française de Développement Group (AFD Group), to buy Overseas [...]

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Egypt’s Sovereign Fund launches educational investments in Cosmic Village

The Sovereign Fund of Egypt began using the land of the Cosmic Village in October, by signing an agreement with CIRA Egypt and Cairo Educational Services (CAED) companies, to provide better [...]