Mauritius Commercial Bank exits payments processor ICPS

MAURITIUS – Mauritius Commercial Bank (MCB) has announced that it has agreed to sell all the 80% shares it held in payments processor ICPS for an undisclosed amount. The lender will subsequently sell the shares  Morocco’s payment solution provider HPS, which already owned 20% stake in the company.   This acquisition is part of HPS’s strategy for growth and development abroad. The company is committed to providing payment solutions and services for issuers, retailers, and mobile network operators worldwide. The strategy, which began in 2010, has enabled HPS to acquire…

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Solar supplier GreenTec merges with Nexus Energy to provide electricity access solutions

AFRICA – GreenTec, a solar mini-grid supplier, has merged with Nexus Energy, a company owned by Green Climate Ventures, an impact investor based in Florence, Italy, with hopes to deploy their electricity access solutions more effectively in sub-Saharan Africa mainly in the Sahel, where Africa GreenTec already offers its containerised solar systems. In this part of Africa known for its relatively arid climate, Africa GreenTec is installing systems consisting of solar panels on containers, which can electrify a small village. Each system is connected to a battery system for storing…

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Endeavour Mining merges with Teranga Gold to make it a top 10 senior gold producer

BURKINA FASO – Endeavour Mining Corporation and Teranga Gold Corporation have entered into a definitive agreement, whereby Endeavour will acquire all of the issued and outstanding securities of Teranga by way of a Plan of Arrangement under the Canada Business Corporations Act. The merger, in which existing Endeavour and Teranga shareholders will own approximately 66% and 34%, respectively, of the combined company on a fully diluted in-the-money basis, will create a new top 10 senior gold producer with average annual production of more than 1.5 Moz with industry-leading low production…

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