Majorel Group, Bertelsmann set for initial public offering on Amsterdam Euronext

MOROCCO – Majorel Group, a subsidiary of Morocco’s Saham Group, and its German partner Bertelsmann, is considering an initial public offering (IPO) on the Amsterdam Euronext for the second half of 2021. German newspaper Handelsblatt reports Germany’s Bertelsmann has set a billion-euro IPO of its call centre business Majorel on the Euronext in Amsterdam. Euronext is a pan-European exchange group, operating stock exchanges in Amsterdam, Brussels, Dublin, Lisbon, London, Milan, Oslo and Paris. The shares held by Bertelsmann and the Saham Group will be offered to institutional investors in private…

Read More

Aviation manufacturer Hexcel Corporation set to expand its Casablanca factory

MOROCCO – Hexcel Corporation, an aviation manufacturer, has announced an expansion at its existing engineered core facility in Casablanca, Morocco at the Midparc Free Trade Zone Industrial Park that will double the size of the plant and will lead to an increase in overall employment. The Casablanca facility was built as part of Hexcel’s ongoing worldwide investment to create a diversified and robust global supply chain to support aerospace customers’ growing demand for engineered core. “Today, Hexcel confirmed its decision to invest in Morocco, like many players in the aerospace…

Read More

Mastercard and Paycode partner to improve access to financial services in rural areas across Africa

AFRICA – Mastercard has partnered with Africa’s global startup engagement program Start Path and startup Paycode to deliver their offerings into a single biometric smart card aimed at increasing access to critical services while advancing economic inclusion among Africans living in remote communities. Mastercard’s Community Pass platform will feature in Paycode’s Electronic Data and Payments Technology platform (EDAPT) that provides secure biometric identity including a digital bank account. Individuals will have access to both offline and real-time digital finance services regardless of whether they lack a formal identity document such as a passport or…

Read More

Budget carrier Jambojet commences Nairobi-Goma direct flights

KENYA – Budget airline Jambojet has launched flights to Goma in the eastern Democratic Republic of Congo (DRC), as it seeks expansion in the vast central African country. Jambojet, a subsidiary of the national carrier Kenya Airways, made the inaugural flight on 10th September 2021, becoming the first airline to directly connect the capital of North Kivu province and Nairobi.  It will be flying twice a week to Goma from its hub at the Jomo Kenyatta International Airport in Nairobi and the company’s officials said the frequency could rise to…

Read More

Amethis acquires minority stake in pharmaceutical distributor Avacare

SOUTH AFRICA – Amethis, an Africa-focussed investment fund manager has acquired a minority stake in Avacare, a key regional distributor and manufacturer of both pharmaceuticals and healthcare consumable products across South Africa. The fund manager focused on the African continent will support Avacare in its project to strengthen its pharmaceutical products. Avacare is a pan-African distributor and manufacturer operating across several African countries among them Namibia, South Africa, Lesotho, Botswana, eSwatini, Zimbabwe, Zambia, and Kenya. Avacare, which has been in existence for 25 years, is also thinking of expanding its presence in…

Read More

Energy Services Company AktivCo SAS secures US$70.89m multi-country facility

WEST AFRICA – The Facility for Energy Inclusion (FEI) has acted as lead arranger for a €60million (US$70.89m) multi-country facility for AktivCo SAS’ subsidiaries in Chad, Niger, Cameroon, Ivory Coast, and Burkina Faso. FEI will provide €27 million (US$31.90m) of the total amount and is being joined by Proparco which will provide €16 million (US$18.90m), Norfund €9 million (US$10.63m) and AfricaGoGreen which will provide €8 million (US$9.45m). AktivCo SAS is an Energy Services Company (ESCO) and fully owned subsidiary of Camusat Group, a global player for the roll-out of telecom…

Read More

Haltons pharmacy enters Ethiopian market

ETHIOPIA – Haltons pharmacy, a retail pharmacy chain dispensing prescription and non-prescription pharmaceutical products has opened a branch in Addis Ababa, becoming the latest Kenyan entity to make entry into the neighboring country. Haltons is a subsidiary of mPharma, a patient-centered and technology-driven healthcare company. The pharma retailer has 27 stores across Kenya. The Ethiopian store is located at Sarbet, a suburb in the capital Addis Ababa. The entry also involves Belayab Pharmaceuticals, through a franchise agreement signed in March this year, 2021. The new pharmacy in Ethiopia is intended…

Read More