Mobile operator Telma has launched its activities in Comoros last December 9. The firm which operates under the name Telco (Telecom Comores) said it has deployed 50 telecom sites across the nation. These infrastructures already provide voice and data services to 60% of the population. The firm’s telecom network operates under 4G, its CEO, Patrick Pisal-Hamida, revealed. For Comoros’ people,...

Investment firm Tana Africa Capital sold its 25% stake in agrofood group Promisador to japanese Ajinomoto Co. for $399 million. In a statement reported by Africa Capital Digest, Duncan Randall, Tana Africa’s Managing Director said: “Tana Africa Capital and its shareholders have enjoyed a positive, decade long relationship with the Promasidor Group…We have highly valued the...

Nigeria plans to sell N20 billion ($63 million) of green bonds in the first half of 2017 to finance renewable energy projects, Bloomberg reported on December 9, citing official sources. “We are on track to sell the bond in the first quarter, a sovereign, and could have another by the end of the year,” Environment Minister Amina Mohammed said. “The sale will also help fund an...

Less sugar but same taste. That is the goal which Swiss firm Nestlé aims at. The agrofood giant indeed announced that it discovered a process which reduces the sugar level in its chocolate bars by up to 40% without changing their taste. Nestlé plans to start using the process in 2018, after getting it patented. Commenting the discovery, the firm said the new process helps “structure the...

Land title issuance has begun in Azazga, in the Tizi-Ouzou wilaya, 100km East of Algiers, El Watan reports. The operation is carried out by the land conservation office. “Cadastre operations were conducted a year ago and related documents were exposed for a month, last June, at APC’s office in Azazga. The final stage, which the issuance of land title was launched a few weeks back and...

The board of directors of the Bourse de Tunis announced on December 9 that it has approved the listing of Meubles Intérieurs. The operation will see the sale of 1.52 million existing shares, thus 36.1% of the firm’s social capital. It will be arranged by Mena Capital Partners. Founded in 1984, Meubles Intérieurs is Tunisia’s leader of office furniture.

Following the beginning of work on Senergy, West Africa's largest solar power plant, last May, Proparco has stepped in again with a loan of €18.4 million to finance the construction and operation of a second 30 MWc photovoltaic plant in Senegal. Proparco will also act as arranger for this operation. Leveraging and duplicating expertise The "Senergy" solar power plant launched in May...

Africa’s largest bank by assets, Standard Bank, acquired a majority stake in the fintech company Firepay, for an undisclosed amount. In 2014, Firepay, barely a year old, developed a solution to help Standard Bank’s customers pay their bills, goods and service via mobile. “We are excited about working more closely with the Firepay team and think that there is an excellent strategic fit...

The US finance development agency, Overseas Private Investment Corporation (OPIC), injected $200 million, equally, in Apis Growth Fund II and Helios Credit Partner, two investment funds who have numerous assets in Africa. Apis Growth Fund will use $100 million it received to implement its strategy which aims to invest in financial inclusion methods. It plans in this framework to help...

The Organization of the Petroleum Exporting Countries (OPEC) and non-OPEC producers during the weekend agreed to their first deal since 2001 to cut oil output together and ease a global oversupply. With the agreement signed at last after over two years of low prices that strained many budgets and impelled unrest in some countries, the market will now shift focus to compliance with the...