The UN High Commissioner for Refugees (UNHCR) and the World Food Program (WFP) launched a joint tender to raise $266 million to provide food aid to refugees in East Africa. In a March 2 statement, the United Nations said the initiative aims to increase the food rations granted to more than 3 million people in East Africa. As a reminder, due to insufficient resources to meet refugee needs,...

Sudan has reached a military cooperation agreement with Egypt. Official sources said this document, signed yesterday, marks the collaboration of both countries in tackling the security issues they are facing. Initialed by Mohamed Farid, Chief of Staff of the Egyptian Armed Forces, and his Sudanese counterpart Muhammad Othman Al-Hussein in the Sudanese capital, Khartoum, the deal endorses...

Inma Holding, a Tunisian investment vehicle that offers diversified financial instruments to support companies in a growth phase and financial restructuring, announces a strategic investment in the capital of the private primary and secondary education group "Les Ecoles idéales." The financial details of the transaction have not been disclosed but Inma traditionally invests at least TND5...

Côte d’Ivoire started on March 1st its vaccination campaign against the coronavirus pandemic. The information was reported in an official tweet by the government. The program follows the reception of the first batch of the vaccine as part of the WHO-led Covax initiative. On February 26, the United Nations announced the delivery of 500,000 doses of the AstraZeneca vaccine to Côte d’Ivoire,...

Crédit du Maroc (CDM), 78.7%-owned by French group Crédit Agricole, posted a net profit of MAD190 million in 2020, about €17.6 million. Compared to 2019, the figure is down 62.6%. In its financial reporting, the company attributes this underperformance to the support granted for the fight against Covid-19, and to the increase in the cost of risk, also related to the pandemic. "At the...

NetOne, the mobile branch of Zimbabwean incumbent telecom operator TelOne, has selected Chinese technology company Huawei to carry out the modernization of its telecom network. The operation, which is part of the strategic cooperation between the two countries, is financed up to $400,000 by China. This is phase 2 of NetOne's network modernization operation, which aims to improve broadband...

African Gold Acquisition Corp, a Special Purpose Acquisition Company, mobilized last February 26 a total of $360 million as part of an IPO on the New York Stock Exchange. The company will use the resources to buy gold assets in Africa. It is the first SPAC focused on African mining assets. Rob Hersov, Founder and Chairman of African Gold Acquisition Corp, and heir to a family of miners in...

Kenya Space Agency plans to launch new nano-satellites into space in August 2021. The move was reported on February 25 by James Aruasa, President of KSA’s Board, during a high-level stakeholder forum held in Nairobi. The launch of the new mini-space equipment developed in local universities will take place in Kenya, at the Luigi Broglio Space Center located near Malindi, the southeastern part...

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...