Ethiopian private equity firm Cepheus Growth Capital Partners has just acquired a minority stake in Tabor Ceramics, an Ethiopian business that manufactures ceramic products, including sanitary ware, dishes, and industrial insulation. The transaction amount is not disclosed yet. Cepheus will also provide strategic, managerial, and operational support to the company enabling it to continue its...

The McKinsey Global Institute has just published a new report on the evolution of gender parity in African countries. While we might be expecting good news, the report found that inequality between males and females remains high across the continent. On average, Africa scored 0.58 out of 1 for the Gender Parity Score (GPS); the same level as four years ago meaning there is no progress in this...

The African Development Bank (AfDB) has just joined the list of the backers of the Liquefied Natural Gas development in Mozambique. The institution announced yesterday it is injecting $400 million in the project which needs a total of $23 billion. The financial close is expected in the first half next year and the country’s national hydrocarbons corporation ENH is seeking $1.5...

Following insistent rumors of a strike on a Nigerien army base in Diffa by the French forces of Operation Barkhane, the French Embassy in Niger refuted these allegations. The representation says these are just fake news intending to undermine military cooperation between the two countries, particularly in the fight against terrorist groups in the Sahel. “The embassy formally denies the “fake...

Africa needs new impetus in its journey towards gender parity. Making progress on any single indicator of gender inequality is likely to require systematic action on a range of indicators by governments, companies, communities, and individual men and women. A new McKinsey Global Institute (MGI) report prepared with McKinsey & Company, Africa, The power of parity: Advancing women’s equality in...

Leaders from multilateral development banks, financial institutions and the private sector called on peers to dispel myths about women being too “high risk” for financing - and to offer more financial services for women in business to close the gender finance gap. “We know that women are a good bet. We know they pay back. We know they run excellent businesses – and yet they are not...

Russia plans to pump $10 billion in infrastructure projects in Angola, Chepa Alexey (pictured), the Deputy Chairman of the Russian Federation’s Parliamentary Committee on International Relations said. The financing will go for projects in the energy sector, namely the construction of hydroelectric dams, wind power generation, solar panels, and power transmission lines as well as financing...

Last weekend, mobile operator Safaricom, which holds the highest market share in Kenya, experienced serious disruptions to its telecoms network. The outage restricted customers from calling, texting and even using Mobile Money (MPESA) services across the country. The Communications Authority (CA), which intends to find out the reasons for this situation, is considering conducting an...

Ethiopia’s Finance Minister is considering issuing an Expression of Interest for foreign companies wishing to import wheat, cooking oil and sugar into the country. According to Foodbusinessafrica, applications should be reviewed and validated by a committee formed by the Ethiopian National Bank, the Investment Commission, the Ministry of Finance and the Ministry of Trade and Industry. Once...

KfW Development Bank partnered with Allianz Global Investors to set up a co-investment fund to support African private equity and venture capital funds that monitor innovative companies operating in fast-growing sectors. Through this initiative called AfricaGrow, the two partners will finance about 150 companies and start-ups on the continent by 2030. The fund will raise €170 million...