Kenya’s competition regulator clears Raysut Cement’s 60% stake sale to Chinese firm Zou Fengqi

KENYA – Omani cement manufacturer Raysut Cement, which has market presence in Tanzania, Somalia and Sudan and had been eyeing to acquire ARM Cement, wants to sell 60 percent stake to a Chinese firm, Zou Fengqi. The Competition Authority of Kenya (CAK) has exempted the two from filing a notification before it, saying the transaction meets the threshold under the Competition (General) Rules, 2019. Firms trading regionally are by Kenyan law required to seek regulator’s approval for acquisitions and mergers “The acquirer (Zou) had no assets or turnover for the…

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Africa data center market to reach US$5b by 2026 – Research and Markets

AFRICA – The Africa data center market size by investment was valued at US$2 billion in 2020 and is expected to reach US$5 billion by 2026, growing at a compounded annual growth rate of 15% during 2021-2026, a report by Research and Markets indicates. The data center market expects to observe growth because of the flurry of factors – renewable power availability, smart city initiatives, and increased support for the digital economy. Egypt, South Africa, Kenya, Morocco, and Ethiopia are actively working toward improving the share of renewable energy in…

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USTDA gives US$1m grant to fund large-scale battery storage feasibility studies in Mozambique and Senegal

MOZAMBIQUE – US Trade and Development Agency (USTDA) has allocated a grant of just under US$1 million to fund feasibility studies for large-scale battery storage projects in Mozambique and Senegal. The large-scale battery storage projects are co-located with wind power in Senegal, West Africa and Mozambique, in southeastern Africa. A grant of just under US1 million was made by USTDA lin 2020 for the Senegal Battery Storage for Grid Resiliency Project, paid to Lekela Energie Stockage, a special purpose vehicle (SPV) subsidiary set up and owned by renewable project developer Lekela Power.…

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German shipping company Hapag-Lloyd enters East African market

EAST AFRICA- Hapag-Lloyd AG, a German international shipping and container transportation company, has entered the East African market with weekly sailings between China, South-East Asia, Kenya and Tanzania. In a statement, the company says it will deploy seven 2,800 TEU vessels to the service, which will arrive in Kenya and Tanzania next week and offer connections to Hapag-Lloyd’s global network. “The new East Africa Service 3 (EAS3) will offer direct weekly sailings between China, South-East Asia, Kenya and Tanzania with very competitive transit times. In addition, the EAS3 will offer…

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CDcare launches online marketplace for users to buy appliances in instalments

NIGERIA – CDcare, a Nigerian startup, has developed an online marketplace that lets users buy appliances and pay in monthly or weekly instalments at zero interest. CDcare combines savings and loans features in its marketplace, allowing users to automate the payment of a monthly or weekly amount towards buying an appliance. When up to half of the cost of the item has been saved, it is shipped, and the automatic payments continue until full payment is made. All of this at zero interest. The bootstrapped CDcare, which is in the…

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Real estate company El Baron Developments launches US$41m Vigor project

EGYPT – El Baron Developments, an Egyptian Real Estate, has launched a new project, Vigor, in the Downtown area at the New Administrative Capital, eastern Cairo, with a total investment of approximately EGP 650 million (US$41.52 million). According to Chairperson and Managing Director Hazem Zarif, the Vigor project is a commercial and medical administrative building situated on 4,700 sqm. It comprises 11 floors; each is 1,138 sqm. The project will offer units with various sizes. A contract was signed with the KAD Commercial Property Management responsible for managing the project…

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MasterCard and The Rise Fund to join Airtel Africa as minority investors

AFRICA – Airtel Africa, a telecom company, has announced plans to unveil its two new minority investors, MasterCard and The Rise Fund, in agreed transactions valuing part of their business at US$2.65 billion. This was disclosed by the Chief Executive Officer, Airtel, Raghunath Mandava, in a statement issued to announce its full-year result. “In line with our strategy of unlocking value in our mobile money business, we will soon welcome two new minority investors (The Rise Fund and Mastercard) in agreed transactions which value this part of our business at…

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Benin invests in 11 startups under Oumandéra funding scheme

BENIN – The government of Benin has invested in eleven startups under the Oumandéra funding scheme, after several phases of selection. The funding will enable them to boost their businesses. The eleven startups are part of the first class of 2020–2021 under the Digital Entrepreneurship Support Fund (FAEN). The eleven Beninese startups received checks worth 10 million to over 29 million CFA francs (US$ 18,430 – 53,460), depending on the relevance of their development needs. “Housed under the Digital Entrepreneurship Support Fund (FAEN), Oumandéra is a grant worth between 5…

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Telkom Kenya creates new subsidiaries to enhance service delivery

KENYA – Integrated telecommunications provider Telkom Kenya, has created two wholly-owned subsidiaries to house its Digital and Financial Services business to enhance service delivery. In a press statement, the firm said the Consumer Service Delivery Unit would remain within Telkom Kenya, insisting that this re-organization of its business will not result in any loss of jobs. The Digital Subsidiary will offer Data Centre Services, Cloud, Managed Services, Connectivity, Broadband, Carrier-to-Carrier traffic, and Backbone Infrastructure. In August 2020, Telkom Kenya began re-organizing its business structure to accommodate the ongoing digital transformation in…

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Startup Mazi Mobility gets backing from venture builder Satgana, launches electric motorcycles

KENYA – Mazi Mobility, a Kenyan startup, has launched its electric motorcycle fleet with backing from global venture builder, Satgana. Mazi Mobility is using motorcycles, locally known as “bodas” in Kenya to accelerate the transition to efficient, affordable and clean transport in Nairobi. Its flagship motorcycle, the Magnus 3000 (M3K), is a better alternative to petrol-driven bodas, while the startup is also introducing battery swapping stations that provide on-demand energy, reducing transportation costs by 50 percent.  The MK3 offers a choice between a single and dual battery, capable of up to…

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