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Kenya’s Hewatele bags Sh1.32bn US loan for oxygen production

• The loan to Hewatele is among 17 new investment transactions approved for Africa by the US International Development Finance Corporation (DFC), totaling more than $655 million(Sh86.77 [...]

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JSE Eyes Game-Changing Renewable Energy Certificates Market Launch

The Johannesburg Stock Exchange (JSE) is exploring the possibility of launching a renewable energy certificates market to expand its product offerings and accelerate South Africa’s adoption of [...]

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Guinness Cameroon Sale to Castel Group Gets Regional Body Nod

Diageo Plc’s sale of Guinness Cameroon to Castel Group was endorsed by the Competitiveness Commission of the Economic and Monetary Community of Central Africa, Cameroon Radio Television reported. [...]

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Mauritius company plans to buy off Cipla Quality Chemicals

Cipla Quality Chemical Industries Limited says business will remain as usual and they will explain details of the transaction if Capital Markets Authority and Uganda Securities Exchange allows [...]

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Top African Cement Maker PPC Seeks Buyers for Rwanda Stake

PPC Ltd. is seeking buyers for its stake in the Rwandan cement business CIMERWA Plc, with the government weighing a decision to acquire the shares, according the central African nation’s chief [...]

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BlackRock Eyes Deal to Buy Into Biggest Africa Wind Power Farm

A public-private partnership backed by BlackRock Alternatives plans to buy a 31.25% stake in Lake Turkana Wind Power, Africa’s largest wind farm located in northern Kenya. The Climate Finance [...]

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Mauritian company buys out Rongai transport firm

Mauritian conglomerate Rogers Group has acquired Rongai Workshop & Transport Limited through one of its subsidiaries Velogic Logistics as part of its regional expansion strategy. The [...]

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AfricInvest Fund IV invests in Justrite Superstore

AfricInvest is pleased to announce it has taken a minority stake in Justrite, a leading Nigerian familyowned retail department store. The company provides everyday essentials, such as groceries, [...]

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DP World targets investment in Kenya’s special economic zone

Global ports giant DP World is exploring investment opportunities in Kenya’s Dongo Kundu Special Economic Zone (SEZ), a futuristic $304mn development aimed at boosting the economy of the coastal [...]

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Senegal’s Largest Cement Manufacturer Gets €242m Green Loan

The loan arranged by the International Finance Corp., will go toward replacing Sococim’s clinkers with more fuel-efficient ones and reduce its carbon emissions, the IFC, a member of the World [...]

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Kenya’s Co-op Bank raises $100mn to expand capital base

The Co-operative Bank of Kenya has raised a total of $100mn (KES12.6bn) in long-term debt from global institutional investors led by the German fund DEG to expand its capital base, according to [...]

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Mascom Eyes Acquisition of MTN Solutions Botswana

Mascom is controlled by Deci Investments, a Botswana based company controlled by Botswana Public Officers Pension Funds (BPOPF) whereas the other shareholder in Deci Investments, holding [...]

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Uganda Development Bank posts 52% rise in loan portfolio

Uganda Development Bank (UDB), the country’s national development finance institution, has reported a 52% jump in the size of its loan portfolio to UGX1.2trn ($326mn), Kampala-based daily [...]

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CIH to Take Over BNP Paribas’ Morocco Asset Management Business

Casablanca-based lender CIH Bank is paying 70m dirhams to take over the management of 8b dirhams in assets from BMCI, CIH says in a statement. Transaction is expected to be finalized in 1H/2023 [...]