Alaris Holdings, a JSE-listed investment group that targets radiofrequency tech companies, acquired the British firm Linwave for about £3 million ($4.1 million). The transaction was carried out through Alaris Investment Holdings UK Limited, the British arm of Alaris. “Linwave becoming part of the ALH Group of companies, will allow us to become more system orientated. This enables us to...

SouthBridge Investments (SBI) and New African Capital Partners (NACP) are proud to announce the launch of their joint venture: SBNA SBNA will act as a “permanent capital fund” aiming to attract investors who take a long-term view on Africa. The joint venture intends to directly invest in Africa’s future with long-term capital, focusing on FinTech, the financial sector integration, and...

Africa’s top 10 listed companies have achieved a negative net debt of $29.1 billion, data reported by Capital IQ showed. The net debt is the total of all long-term and short-term debts of the targeted companies, minus the available and potential liquidity (investments in securities) in each of them. Per financial rules, when net debt is negative, it is good news. This means that the...

The United Nations and the government of Cape Verde have validated a joint roadmap valued at $23 million for 2021, we learned. The plan aligns with the cooperation dialog for sustainable development, which is an initiative that gathers the country’s key partners to discuss progress, challenges, and development issues. Ana Graça, United Nations Resident Coordinator in Cape Verde, said...

Morocco says it will suspend all contact with the German embassy in Rabat as well as German cooperation entities and foundations that have any links with the embassy. In a letter sent to Prime Minister Saâd-Eddine el-Othmani and all government members, Foreign Minister Nasser Bourita (pictured) said this decision was taken following “deep misunderstanding with Germany over fundamental issues...

TymeBank, a South Africa-based digital retail bank has secured a $110 million Series B investment from private equity fund Apis Growth Fund II and JG Summit Holdings, a renowned conglomerate in the Philippines. This investment is one of the largest foreign investments any fintech company has secured in South Africa.  “The establishments of digital banks in South Africa is in its...

Since January 2021, Africa has mobilized a total of $895 million in private equity investment, we learned. The largest PE transaction was carried out by SPE Capital Partners for its first fund targeting Africa and the Middle East. The company raised $258 million for an initial target of $200 million. "This is an important milestone for our young company. We are grateful for the...

Mobile operator Expresso Senegal, a subsidiary of Sudanese Sudatel, has finally received the green light of the telecom regulator to launch 4G, after several months of negotiations. The agreement was signed last February 26, 2021, when a delegation of the Sudanese telecom group arrived in Senegal. Led by Magdi TAHA, CEO of Sudatel, the delegation was granted an audience by President Macky Sall...

Tunisia's state wage bill increased to 17.6% of GDP. According to the International Monetary Fund (IMF), which issued a new document on the country’s economic situation, this ratio is one of the highest worldwide.Like many other countries, Tunisia had to hire additional health workers to deal with Covid-19. It is estimated that the health sector accounted for 40% of new hiring in the country in...

This year, Congo is expected to achieve a budget surplus, a sharp recovery after the deficit in 2020. The good news was reported last week by the International Monetary Fund. IMF says 2020 had been a tough year due to the covid-19 pandemic and the decline in oil prices, one of the country’s main exports. While Congo has been facing a debt crisis that has made economic recovery difficult in...