Lafarge Africa divests 35% shareholding in Continental Blue Investment Ghana

NIGERIA – Lafarge Africa Plc, a cement manufacturer, has announced to the Nigerian Stock Exchange (NSE) that it has resolved to divest its 35 percent shareholding in Continental Blue Investment Ghana Limited (CBI), a company involved in development, financing and operation of a cement grinding plant in Ghana. The cement manufacturer held an emergency meeting with its board of directors on October 6, 2020, to discuss its investment in CBI. The notice signed by Adewunmi Adole, Lafarge’s general counsel and company secretary, said the decision to sell-off its shares in…

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Commercial International Bank acquires the controlling stake of Mayfair Bank

KENYA – Commercial International Bank (CIB), Egypt’s largest private lender, has received regulatory nod to acquire a controlling stake in Mayfair Bank, deepening acquisitions in the local banking sector.  The Central Bank of Kenya (CBK) announced that it had given the greenlight to CIB to acquire a 51 percent stake in the tier III lender effective May 1, saying the deal will diversify and add resilience to Kenyan banking sector.  “The acquisition of a majority stake in Mayfair will anchor CIB’s expansion into the East African region. Its entry will also…

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