Kenyan logistics platform Amitruck will obtain an undisclosed pre-seed investment as part of an operation led by two U.S. companies, Dynamo Ventures, and Plug and Play Ventures. “Amitruck is facing increasing demand and we need to expand our platform. We have added several very large accounts including Jumia, Kenya’s largest e-commerce player,” said CEO Mark Mwangi (pictured). The company...

Côte d’Ivoire is expecting €1 billion from the European Union to improve the sustainability of its cocoa industry. Jobst Von Kirchmann, the EU Ambassador in the country, said the loan will be provided under the “Team Europe” initiative set up by the institution to assist its member countries. The resources, which is expected to come from all 27 EU member states as well as financial...

The Libyan Interior Minister Fathi Bachagha (pictured), from the Government of National Accord, escaped an assassination attempt yesterday February 21. "GNA Interior Minister Fathi Bachagha was the target of an assassination attempt on Sunday at 3 p.m. as he was returning to his residence in Janzur," an official statement by the ministry revealed. According to the available information, the...

Algerian President Abdelmadjid Tebboune (pictured) yesterday made some changes in the government after he recently expressed dissatisfaction with the cabinet of the Prime Minister. In his reshuffle move, Tebboune kept Abdelaziz Djerad as PM but changed the Ministers of Industry (Farhat Aït Ali), Water Resources (Arezki Barraki), Tourism (Mohamed Hamidou), Environment (Nassira Bengarrats),...

Itissalat al-Maghrib, the Moroccan leader in telecommunications and the sixth-largest listed company in Africa by market value, tried to reassure its investors after a year 2020 with rather mixed performance. "Over the year 2020, Maroc Telecom group posted operating results in line with targets," the company said in a statement today. The group says thanks to continuous efforts to control costs...

UK-based end-to-end Insurance solutions delivery firm, Linkham Group, will acquire a majority stake in Kenya-based Resolution Insurance. The company agreed to purchase the 100% interest held in Resolution Insurance by LeapFrog Investments for an undisclosed amount.   “We look forward to benefiting from Linkham Group’s international experience to streamline the services of the...

Egypt will buy $197 million worth of arms from the United States. In a statement issued on February 16th, the U.S. Defense Security Cooperation Agency (DSCA) announced that the sale agreement has already been approved by the U.S. State Department. The new contract covers the purchase of 168 RIM-116C Rolling Airframe Missiles Block 2 and the shipping and storage containers for the RAM Guided...

African countries will have to repay nearly $100 billion in Eurobonds between 2021 and 2032, according to data published yesterday by the Institute of International Finance (IIF), a Washington-based organization that brings together the world's central banks and major financial groups. IIF experts explain that this situation is the result of high issues in recent years" ($147 billion over...

The United Nations High Commissioner for Refugees (UNHCR) announced in a Feb 17th statement it wants to mobilize $222.6 million to support its humanitarian action for Burundian refugees. According to the organization, the funds will be used to finance the 2021 Burundi Regional Refugee Response Plan, as well as the Joint Refugee Return and Reintegration Plan. The First step will be to...

Burundi and Tanzania revealed plan to raise $1.9 billion to build a railway linking the two countries. Dieudonné Dukundane, Executive Secretary of the Central Corridor Transit Transport Facilitation Agency (CCTTFA), said the infrastructure is a 190 km line that will link the Burundian city of Musongati to that of Isaka in Tanzania. The objective for the Burundian authorities is to...