Democratic Republic of Congo

Egypt’s Benya Capital to build 16,000km fibre network in DRC

October 28, 2020October 28, 2020 Frank

DRC– Egyptian firm Benya Capital has confirmed its plan to build a 16,000km fibre network in Democratic Republic of the Congo (DRC) beginning 2021. Osama Qadan, operations manager of Benya Capital, told Augustin Kibassa Maliba, DRC’s minister of posts, telecommunications and new information and communication technologies, that the network will provide high-speed services to mobile operators across the country. “We are talking about digital transformation,” Qadan told the minister, according to the Ecofin news agency. “The implementation phase of this project will start in 2021. At the moment, we are…

Feronia sells stake in DRC palm oil subsidiary to investment company KKM

August 3, 2020August 28, 2020 Frank

DRC – Feronia Inc. an agribusiness company operating in the Democratic Republic of the Congo (DRC), has entered into a definitive purchase agreement with Straight KKM 2 Limited (KKM) to sell its equity interests in its operating subsidiary, Plantations et Huileries du Congo (PHC). PHC is Feronia’s palm oil business which it acquired from Unilever in 2009. It produces crude palm oil (CPO) and palm kernel oil (PKO). KKM is an entity incorporated in Mauritius primarily owned by a number of funds for which Kuramo Africa Opportunity Offshore Fund II GP…