Egypt: IFC to back IDH’s expansion with $45mln
Thursday, 20 May 2021 12:45
The International Finance Corporation plans to support the growth strategy of Egyptian service provider Integrated Diagnostics Holding Plc with $45 million. According to Capital Ouest, which relayed the news, the Egyptian company seeks to grow locally and beyond borders.
IDH is listed on the London Stock Exchange and also has a footprint in Jordan, Sudan, and Nigeria. The next step is to carry out a second listing on the Egyptian Stock Exchange. The firm is advised by EFG Hermes and Renaissance Capital in this transaction and is also backed by Hena Holdings and Actis, which hold considerable stakes in its capital.
For its fiscal year ended December 2020, IDH reported revenues of about EGP2.6 billion ($165.8 million).
Chamberline Moko
Live News
-
Essence: The African Anthem That Conquered Rolling Stone’s Greatest List
11:01
-
Janngo Capital Invests in Jobzyn to Transform Recruitment Across Africa
10:51
-
Ghana, Togo Hold Border Coordination Meeting on Telecom Spectrum Management
10:46
-
Bertin Nahum Merges AI and Robotics for Precision Cancer Treatment
10:41
-
Janet Kuteli Helps Informal Workers Build Assets
10:38
-
Zambia’s Nalolo Solar project advances with Terra Metals backing
10:31
-
Douala’s Bus Rapid Transit to Save $97M Annually in Time (World Bank)
10:26
-
Camair-Co to Launch Flights to Kinshasa, Lagos, Abuja and Malabo, With Eyes on Paris
10:22
-
Cabo Verde Sets 2026 Target for Nationwide 5G Coverage
10:16
-
UBS and Goldman Sachs Lift Gold Forecasts, Seeing Path to $3,800 and Beyond
10:10
From Dakar to Nairobi, Kampala to Abidjan, mobile money has become a lifeline for millions of Africa...
Nigeria’s fintech landscape has undergone a seismic shift in recent years, driven largely by persist...
• WAEMU posts 0.9% deflation in July, second month in a row• Food, hospitality prices drop; alcohol,...
Airtel Gabon, Moov sign deal to share telecom infrastructure Agreement aims to cut costs, boo...
• Benin’s FeexPay and Côte d’Ivoire’s Cinetpay receive BCEAO payment service licenses• Both firms ex...
• Terra Metals has invested in the Nalolo Solar project in Zambia with local and regional partners.• The plant is planned at about 300 megawatts, with...
• Cabo Verde to roll out nationwide 5G by 2026• Government sees 5G as key to digital, economic growth• Current mobile coverage exceeds 88% for 4G...
• UBS raises 2025 gold forecast to $3,800 amid rate cut bets• Gold hits $3,643/oz; silver tops $40 for first time since 2011• Central...
• Askari signs agreement to sell Australian gold assets to focus on Africa projects• Proceeds to fund Ethiopia gold acquisition, exploration activities•...
Surprisingly, only one African song made it onto Rolling Stone's list of the 500 Greatest Songs of All Time. The track is "Essence," a collaboration...
The Umhlanga Festival, also known as the “Reed Dance,” is one of the most iconic cultural events in the Kingdom of Eswatini in Southern Africa. Every...