In an era where digitalization has become a key lever of human activity, the capacity of large American digital groups seems to have slowed down. Some of them are even facing regulatory challenges that could further reduce their sales. In their latest financial reporting, the tech giants known as GAFAM (Google, Amazon, Facebook, Apple, and Microsoft) revealed they have achieved a cumulative net...

West African countries have taken the initiative to strengthen collaboration to tackle the growing insecurity in the Sahel. Under this strategy, more than 400 military troops from Africa, Europe, and America will gather on February 15 in Côte d'Ivoire for a joint military exercise.  The multi-nation military exercise Flintlock will take place this year in Côte d'Ivoire from February 15 to...

Nigerian healthtech startup Reliance Health announced yesterday it has successfully raised $40 million in a Series B round led by the U.S. PE firm General Atlantic. The deal is the largest of its kind in the African healthtech industry and marks General Atlantic’s first investment on the continent. “General Atlantic is thrilled to announce our first technology investment in Africa in...

On Tuesday, 18 January 2022, Meridian Port Services (MPS) signed a purchase agreement with Shanghai Zhenhua Heavy Industries Company Limited (ZPMC) for the acquisition of 15 new gantry cranes, including 3 STS cranes and 12 eRTG cranes. This USD 53.31 million investment will enhance the capacity at Terminal 3 in the Port of Tema and also reflects MPS' commitment to continuously improve its...

US investment fund Everstrong Capital reached an undisclosed deal with Kenyan telecom tower operator SealTowers to acquire a majority stake in the company. The investment channeled through the Everstrong Kenya Infrastructure Fund will be part of Everstrong Capital's $12.5 million financing package to roll out an additional 200 telecom towers in rural and urban Kenya over the next two...

Despite its official operationalization in early 2021, the African continental free trade area is still in the process of being implemented. Forty countries have met the requirements to become state parties. The African Union has announced that it has welcomed a new state party to the African Continental Free Trade Area (AfCFTA). The deal was officially ratified by Cape Verde, which became the...

In swift response against the pandemic, the Ivorian government has deployed as of 2020 four financial vehicles to protect businesses active in the country. The strategy is expected to boost economic recovery to 7% growth this year. The Ivorian government announced in a February 4 statement that it invested more than $72.6 million overall in the fight against covid-19 in 2021. The amount was...

Oryx Energies has been present in Benin since 1997 and has continued to grow with customers, employees and the Beninese community. Today marks a new turning point in its desire to offer even more services and quality products: The company Oryx Energies Benin is taking over part of the Sonacop network, 63 stations are now ours and under study to carry the new Oryx brand. As a citizen company,...

Telecom sector employees went on strike last March to denounce various charges imposed on services. The telecoms regulator has taken steps to ease tensions and satisfy consumers. Since February 1, Guineans have been paying 18% and 20% less per local call minute. The cost is reduced from 660 to 540 Guinean francs for Orange and from 600 to 480 Guinean francs for MTN and Cellcom. This was made...

Less than a month after its strategic deal with UbiPharm, Imperial announced a new proposal to acquire a minority stake in a pharmaceutical company. JSE-listed Imperial Logistics made an undisclosed offer to acquire a 49% minority stake in Ascendis Pharma. In its takeover proposal disclosed on February 2, the logistics group said the remaining 5% stake in Ascendis Pharma would be acquired by...