African Leadership Academy appoints first female CEO

AFRICA – The African Leadership Academy (ALA) has appointed Bilha Ndirangu as its Chief Executive Officer, the first woman to hold the post to succeeding the institution’s co-founder Chris Bradford. Ms. Ndirangu becomes the institution’s 3rd CEO and is the first Kenyan and first woman to head the academy. Prior to the appointment, Bilha was the CEO of Africa’s Talking (AT), a Pan-Africa mobile technology company that supports software developers. During her 7 years tenure at AT, Bilha oversaw the company’s incredible growth from a workforce of about 8 to over…

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Imperial Logistics in talks to buy Mozambique transport firm J&J Africa ahead of its own takeover by DP World

MOZAMBIQUE – Imperial Logistics is planning to acquire transportation firm J&J Africa ahead of its own takeover by Dubai giant logistics giant DP World. The South Africa-based company is holding talks to buy the business from its private equity owners, it said in a press statement that confirmed an earlier Bloomberg News report. There is no certainty that any agreement will be struck, Imperial said. A deal, if completed, could value J&J at US$350 million to US$400 million, according to people familiar with the matter. J&J provides transport and logistics services…

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Power producer Kengen to invest US$2b in new geothermal power plants in Kenya

KENYA – Electricity producer Kenya Electricity Generating Company (Kengen), has disclosed plans to invest as much as KSh216 billion (US$2 billion) in four new power plants in Kenya over the next five years, Bloomberg reports. The leading power generator is shifting focus from sources like hydroelectric power and thermal power to geothermal power. Kengen is the largest energy generating company in East Africa and has also drilled over 310 geothermal wells since its establishment and supplied 1,818 Megawatts to the national grid. Geothermal energy is becoming a major source of…

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Total Eren set to construct 50 MWp solar power plant in the capital of Gabon

GABON – Total Eren, a renewable energy independent power producer (IPP), has signed an agreement with the Gabonese authorities for the construction of a 50 MWp solar power plant near the capital Libreville, Gabon. Total Eren, which is 30% owned by the French oil company Total Energies, signed the preliminary agreement with Alain-Claude Bilie By Nze, Gabon’s Minister of Energy and Water Resources. The electricity will be fed into the grid of the Société d’énergie et de l’eau du Gabon (Seeg). The solar project should enable Gabon to diversify its…

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Ascendis Health to dispose of its animal health division for US$52.5m

SOUTH AFRICA – Health and wellness company Ascendis Health has said that it had reached a deal to sell its Ascendis Animal Health division for R770.19 million (US$52.5 million) as it ramps up the disposal of non-core assets to reduce its unsustainable debt levels. The South African-based global health and care company concluded the sale of a shares agreement between subsidiary Ascendis Health South Africa Holdings and the purchaser, Acorn Agri & Food, as well as with the guarantor AAF Invest, for the disposal of the entire issued share capital…

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Radisson Group partners Madaef to launch seven Moroccan hotels

MOROCCO – Radisson Hotel Group has partnered with Madaëf to announce the signing of seven Moroccan hotels which will be located in renowned tourist areas, Al Hoceima, Saïdia and Taghazout. The new portfolio consisting of resorts and residences will add over 1600 rooms bringing the Group’s Moroccan portfolio to 10 hotels, fast-tracking its strategy to reach 15 hotels in operation and under development in the country by 2025. “We are delighted to announce this portfolio of seven new hotels, as it not only accelerates our growing presence in Morocco, but…

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UNDP-Togo, FAIEJ launch US$476,000 per year fund for young entrepreneurs

TOGO – The Support Fund for Economic Initiatives for Young People (FAIEJ) and the United Nations Development Program (UNDP-Togo) has launched a new fund for the benefit of young Togolese entrepreneurs. The 265 million FCFA per year (US$476k) Togolese Facility for the Acceleration and ‘Innovation (FTAI), will help companies who are innovative and ambitious. The fund will also provide financial assistance to startups and incubators, with the goal of assisting in the formation of new enterprises and jobs for young people. “It is a fund that functions as a catalyst…

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ATI closes US$238m financing agreement for health and transportation projects in Ghana

GHANA – The African Trade Insurance (ATI), a pan-African financial institution providing credit and political risk Insurance Products to support African investments, has announced the closing of two €203 million (US$238.8m) financing agreements social loans, to fund four health and two transportation projects in Ghana. The first transaction, a €55 million (US$64.7m) financing package, relates to the construction of two new Trauma hospitals in Obuasi and Anyinam districts, a new Accident and Emergency center at Enyiresi Hospital and the rehabilitation of Obuasi’s current outdated Health Center. Once completed, the four…

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Healthtech startup RxAll raises US$3.15m funding to develop its technology

NIGERIA – RxAll, a startup based in the United States and Nigeria that uses deep technology to offer patients with high-quality medication, has raised US$3.15 million in funding to expand into other countries and develop its technology. This funding round combines a recently closed US$2 million seed round (which was oversubscribed by US$2.25 million) and a US$900,000 pre-seed round raised at the end of last year. The financing was led by Launch Africa, with participation from SOSV’s HAX and Keisuke Honda’s KSK fund. With the latest funding, the company hopes…

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Medical Credit Fund unveils new financing for health SMEs

KENYA – Medical Credit Fund has made the first disbursement of loans under the second phase of its loan guarantee facility that targets small and medium-sized healthcare companies in Africa. The loan amounting to Sh45.2 million (US$ 417,744) has been given to Sori Lakeside Hospital based in Homabay County in Kenya. According to the company, this new phase of funding is expected to increase investments in African health infrastructure and improve access to quality primary healthcare services. Arjan Poels, Managing Director, Medical Credit Fund said that many health SMEs have…

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