Author: Ibrahima jr Dia

As the number of coronavirus cases continues to rise in South Africa, President Cyril Ramaphosa has taken further restrictive measures. Speaking on National TV on Sunday (June 27), the head of state said the country is facing a more contagious third wave caused by the Delta variant. The “mutant”, he underlines, detected in India is now found in 5 provinces of the country including the Eastern Cape and Gauteng. “Our health services are working to the extreme limit of their possibilities (…), it does not “There are very few beds available in intensive care,” he added, before announcing that South…

Kibo Capital Partners announced Monday, June 28, that it had sold all of its 6% stake in I&M Bank Rwanda (IMR), the country’s second largest commercial bank. This operation marks the full exit of The Kibo Fund II LLC, which had Enexus Finance as its financial advisor. The private equity management firm said it has seen IMR consolidate its market position throughout its investment period. The bank, she points out, has strengthened its value proposition in a full range of banking services, and has also successfully implemented a digitization strategy by investing in a new core banking system aimed at…

The Trade and Development Bank (TDB), a trade and development bank for Eastern and Southern Africa (TDB), has successfully issued a $ 500 million Eurobond on Euronext Dublin for a 7-year maturity. In its press release on Thursday, June 24, the institution indicated that this senior unsecured bond relates to a 4.125% coupon. The bond was oversubscribed an unprecedented 4.5 times, closing with an order book of $ 2.4 billion. The issue was arranged by banking groups Standard Chartered Bank Citi, Commerzbank, and J.P. Morgan Securities, among others. Overall, TDB has been successful in attracting various leading investors from African…

BIAT Capital, a subsidiary of the BIAT group specializing in the stock market in Tunisia, announced on Wednesday June 23 that it had finalized its merger-absorption operation through the stock market intermediary, Tunisie Valeurs. On June 3, 2021, the institution obtained the approval of the Financial Market Council to validate this process. In its press release, BIAT Capital informs that the extraordinary general meetings of BIAT Capital and Tunisie Valeurs, held respectively on June 17 and 18, 2021, approved the merger by absorption of BIAT Capital by Tunisie Valeurs. A merger which will be final and BIAT Capital will be…

CDC Group plc has said it will release approximately $ 50 million to help finance the Redstone Concentrated Solar Power Project in South Africa. In a statement released on Wednesday, June 23, the UK’s development finance institution said the support marks its return to the South African direct investment market, and affirms its climate investment mandate. “Our investment in the Redstone Project signals CDC’s return to the South African market on the direct debt side, thanks to a project that uses pioneering technology that will positively transform the country’s energy,” said Iain Macaulay, Manager project financing at CDC Group. He…

Injaro Agricultural Capital Holdings Limited (“IACHL”), the impact investment fund managed by Injaro Investments, announced on Tuesday June 22 that it had sold all of its 30% stake in seed producer M&B Seeds and Agricultural Services Ghana Limited (“M&B”). This sale of shares represents a full exit from M&B after a 10-year holding period (Injaro invested in M&B in May 2011). “I am optimistic about M&B’s future expansion prospects. I firmly believe that the structure will find an investor as effective as Injaro to meet the challenges of agrifood productivity, ”said Ben Kemetse, founder and CEO of M&B. Commenting on…

President Cyril Ramaphosa said on Monday, June 21, that the “selfish and unfair” refusal by pharmaceutical companies and allied Western governments to grant emergency waivers to patents on Covid-19 vaccines endangered the whole world. In passionate remarks, Cyril Ramaphosa blasted resistance to calls by India and South Africa for temporary patent waivers to increase production. “It’s selfish, it’s unfair, it’s totally unfair,” Ramaphosa, a supporter of the waiver, said during the opening virtual session of the Qatar Economic Forum, a day after South Africa recorded 13,000 new cases in a third wave of COVID-19. “We are facing an emergency which…

Absa Insurance Company Ltd announced on Monday, June 21, that it had launched a new digital insurance product called “Activate by Absa”. The new solution offers a variety of features and added values ​​in the areas of auto insurance and building, among others. The company said in a statement that it designed its new product after conducting extensive international research and focusing on using technology and innovation to improve the traditional insurance model. “Since the coronavirus pandemic, consumption patterns have evolved a lot with an emphasis on digitization. This is forcing companies to switch to digital to meet customer needs,…

Orabank Gabon and Sanlam Pan Assurances signed an agreement on Wednesday June 16 in Libreville to pool their complementarity and provide complementary hybrid financial products to Gabonese. The main purpose of the agreement is to determine the terms and conditions for the design and development of current and future insurance contracts. “This agreement, we are certain, will make it possible to fill the gap that may exist in the offer made to our customers in terms of banking, as well as in banking and insurance. It is therefore with great pleasure and great joy that we materialized this framework agreement…

African Infrastructure Investment Managers (AIIM), one of Africa’s largest infrastructure-focused private investment fund managers, announced on Monday (June 14th) that it had taken a 25.8% stake in MetroFibre Networx (MFN) , a South African company specializing in the supply of fiber optic networks. This transaction follows the ZAR 1.5 billion (USD 109 million) funding round concluded in December 2020 by AIIM, South African Housing & Infrastructure Fund (SAHIF) and a French-based foreign investment vehicle (STOA). The main purpose of the initiative is to support MetroFibre’s capital expansion plan by ZAR 3 billion (US $ 217 million) over the next three…

After the French group Total, it is the turn of the Portuguese Galp Energia (GALP.LS) to suspend its gas project in Mozambique for security reasons in the country. The partner of a gas consortium led by Exxon Mobil in Mozambique has said it will not invest in onshore plants until the authorities ensure security and social stability. This is a second setback in Mozambique’s hopes of developing a major liquefied natural gas (LNG) hub in the years to come. This after TotalEnergies (TOTF.PA) suspended its own separate LNG project in the country. Militant attacks in the Cabo Delgado region of…

The Ethiopian government launched on Monday (June 14th) a call for tenders for the sale of a 40% stake in the public operator Ethio Telecom to private investors. The initiative is part of the liberalization of the economy. According to sources familiar with the matter, the 40% would be sold as a single stake to a single investor. “Interested investors can now submit expressions of interest, the first in a series of steps that will lead to the selection of a successful bidder,” said Zinabu Yirga, deputy director of the Detention and Investigation Agency. administration of public enterprises on the…

The private Takatso consortium has taken a majority stake of 51% in the airline company South African Airways (SAA), announced state sources this Friday, June 11. The consortium is pledging an initial sum of more than 3 billion rand (221.60 million USD) to breathe new life into the ailing national airline. “The government will keep a 49% stake while the financial partner will hold 51%,” said Pravin Gordhan, Minister of Public Enterprises. “The aim of bringing in a financial partner for SAA is to augment it with the technical, financial and operational expertise required to ensure a sustainable, agile and…

Abidjan, June 7, 2021 – Adiwale Fund I announces the acquisition of a minority stake in the capital of the Ivorian company Maintenance Air Conditioning Technique (MCT). MCT has been in business for over 60 years and is the leader in its industry. The company specializes in the installation and maintenance of innovative industrial and residential air conditioning solutions and electrical engineering. MCT operates in eleven French-speaking countries in West and Central Africa and is a partner of Carrier, an American company and world leader in air conditioning. The shareholders of the company have more than 55 years of cumulative…

Oasis Capital, a fund manager dedicated to SME finance, has invested USD 1 million in appsNmobile Solutions, a payment service provider in Ghana. The information was given this Wednesday, June 9 on the African Private Equity website. This investment is expected to capitalize appsNmobile to position it as a dominant player in the payments space in Ghana and the sub-region. In its statement, the structure stressed that part of this capital will also allow the company to meet the regulatory capital requirements of the Central Bank of Ghana and provide other necessary logistics for the business. “The company is determined…

The World Bank (WB) published its new report on Tuesday, June 8, entitled “World Economic Outlook”. A document in which she estimates that sub-Saharan Africa should return to growth of 2.8% this year, then accelerate to 3.3% in 2022. This performance will be mainly due to the rise in commodity prices and the gradual containment of the pandemic. According to the document, production in sub-Saharan Africa contracted by 2.4% in 2020 as a result of Covid-19, a less severe recession than initially expected. Growth, he emphasizes, has gradually picked up this year, thanks to the positive spillover effects of the…

As of the first quarter of 2021, the Africa Finance Corporation (AFC) has three new members namely Morocco, Burkina Faso and the Democratic Republic of Congo. In a statement released Wednesday, June 9, the Pan-African institution said this new membership brings the total number to 31 members. “Through this expanded membership and our technical expertise, we are empowered to provide critical infrastructure with a greater focus on energy, renewable energy and digital infrastructure to rebuild a more resilient and sustainable economy post Covid-19 . Said Samaila Zubairu, President and CEO of AFC. Speaking on Morocco’s membership, Economy, Finance and Administrative…

South African operator Telkom announced on Tuesday (June 8th) that it had launched a virtual Mastercard card usable on WhatsApp. This new service allows Telkom Pay customers to make payments online. With the addition of the virtual Mastercard card to the wallet, users can now make payments at local and global online merchants that accept Mastercard, including Uber and Netflix. Telkom’s virtual Mastercard for WhatsApp offers customers the ability to shop using only their smartphone and the Telkom Pay app. Customers simply create a virtual card on their profile, link it to their digital wallet, and transfer funds from their…

The World Bank, through the International Finance Corporation (IFC), its entity dedicated to the private sector, has granted a loan of USD 450 million to Morocco. This envelope will be used to support the strengthening of human capital in the country in the long term. In a press release this weekend, the Bretton Woods institution stressed that “this loan, which aims to improve early childhood development in rural areas, will finance the third phase of the National Initiative for Human Development. , with an emphasis on the early childhood development axis ”. “In Morocco, a child born today will only…

In just three days of shutting down the social network Twitter (Friday, Saturday, Sunday), Nigeria has lost more than $ 15 million, according to a study by NetBlocks, a cybersecurity and internet governance watchdog. According to the platform, a one-day Internet blackout would cost Nigeria 48.596 billion naira ($ 119 million) in economic terms. The country, she points out, would lose 10.885 billion naira ($ 27 million) per day if WhatsApp, Facebook, Instagram, YouTube and Twitter were all shut down. Netblock said that aside from the financial implications, the Nigerian government’s directive is fundamentally an affront to Nigerians’ rights to…

Karim Abdelkefi has been re-elected as chairman of the board of Tunisie Clearing for a second 3-year term. This decision was taken on Friday, June 4, at the end of the company’s ordinary general meeting. In addition, the body appointed 12 new board members representing the following financial institutions. These are COFIB Capital Finances (CCF), General Investment Company (CGI), Attijari intermédiation, BMCE Capital, Amen Invest among others. Tunisie Clearing is the Central Securities Custodian and Manager of the Securities Settlement / Delivery System. It represents a strong link in the secure and reliable architecture of the capital market in Tunisia…

Telecom operator Safaricom said on Monday (June 7) that it plans to write off a debt of 1.5 billion shillings ($ 14 million) owed by rival telecommunications companies Telkom and Airtel. This after having made provisions for loss of funds. Both operators must pay Safaricom for the use of its infrastructure. These are the colocation and interconnection charges for inter-network calls. “Regarding the expected losses, we also talked about it in the first half of the year. We’ve also seen the build-up of losses from Telkom Kenya, and the overall co-location and interconnection is about $ 1.5 billion, so that’s…

The Central Bank of Egypt (CBE) said on Thursday (June 3) that net international reserves increased by about $ 125 million to $ 40.468 billion in May, from $ 40.343 billion in April 2021. “The level of foreign exchange reserves allows Egypt to cope with possible exogenous shocks,” said Ramy Aboul Naga, vice-governor of the CBE. Gold reserves increased by about $ 281 million to $ 4.409 billion in May, from $ 4.128 billion in April. Detailed international reserves figures revealed a $ 29 million decline in the value of foreign exchange reserves in May to $ 36.033 billion in…

Equity Bank Rwanda has launched a new digital platform called “EazzyFX” for the settlement of foreign exchange transactions, we learned Thursday, June 3 from the local Rwandan press. “Online forex trading”, will allow customers convert currencies without having to go physically to the Bank’s premises or to the stockbrokers. This initiative is part of the bank’s new digitization strategy but also of the diversification of sources of income. “In today’s world, digital banking solutions like EazzyFX have proven to be the solutions our customers are looking for to help their businesses become more competitive by reducing time and distance,” said…

Stanbic Bank Botswana announced Thursday, May 3, that it had launched the “eMarketTrader” mobile application. This initiative follows the launch of the eMarketTrader in 2019, which gave clients access to real-time foreign exchange (FX) rates. This new application offers customers services that meet modern needs. “As Stanbic Bank Botswana, we are committed to connecting our clients to digital solutions that offer simplicity and convenience, making their banking experience easier. It’s about using our knowledge and learning to add value to the customer, as well as investing in a stronger customer experience – creating value for our customers so of course…

The Mo Ibrahim Foundation has said that the post-pandemic recovery is an opportunity to define and carry a new model of growth in Africa. In its new report titled Forum Ibrahim 2021, released on Wednesday, June 2, the organization analyzed the continent’s post-covid-19 economic situation. This document reveals that the pandemic has brought out 4 major flaws in the African economy. These are the fragility of health structures, the vulnerability of an economic growth model that is excessively dependent on the outside, the risk of regression in the progress made in terms of development and human rights, as well as…

Investment fund manager Ata Capital has acquired a 33.3% stake in the capital of South African company Acrux Sorting Technology (Pty) Ltd, which specializes in commodity resources and technology, read on Wednesday. June 2 on the company’s website. “This Ata Fund I investment will strengthen our ability to deliver on our sustainability agenda. It will make a positive and sustainable contribution through Environmental Social and Governance (ESG) and sustainability impacts in the country’s mining sector, ”commented Karel Potgieter, CEO of AST. For his part, the former CEO of Ata Capital, Lelo Rantloane, said: “We are delighted to partner again with…

CIH Bank, in partnership with the European Investment Bank (EIB), has decided to support Moroccan companies affected by the coronavirus pandemic. With this in mind, the EIB has provided CIH Bank with financing totaling 640 million dirhams (60 million euros). This envelope will be used to strengthen support for Moroccan small and medium-sized enterprises (SMEs) and medium-sized enterprises (ETIs). “This first financing partnership with the EIB reinforces the various measures taken by the bank to support the activity of small and medium-sized enterprises and reduce the impact of the health crisis on the economic sector”, indicated Lotfi Sekkat, CEO General…

Morocco is adjusting its demand for wheat, as announced in May 2021. From now on, imports of durum wheat will be subject to tariffs going from 0 to 170% as of Tuesday, June 1. This is under a decree issued by the government against zero levies so far. This decision aims primarily to limit imports of durum wheat, but also to promote the flow of local production which will be abundant this year, according to official forecasts. According to statistics from the Ministry of Agriculture, production is expected to more than double in 2021/2022, rising to 2 million tonnes from…

For the fiscal year ended March 2021, Safaricom announced this weekend that it had realized a loss of 314 million shillings (3 million USD) in M-Pesa Africa, the joint venture it has formed with its southern parent company. – African Vodacom Group. The telecommunications company has said that this underperformance is due to the initial setup costs and declining revenues of M-Pesa during the period of the Covid-19 pandemic. M-Pesa Africa aims to take the mobile financial services platform beyond the existing markets served separately by Safaricom and Vodacom. Safaricom operates M-Pesa directly in Kenya while Vodacom manages the service…