BVMT-listed OneTech received €23 million from the International Finance Corporation (IFC), to support its development in Tunisia, Morocco, and internationally. The financing will also be used to stimulate job creation and economic growth in these two Maghreb countries facing the effects of the covid-19 pandemic. “IFC’s continued support will help our company acquire new capacity, more...

The European Investment Bank (EIB) has just announced the deployment of €16.6 billion to fight the coronavirus pandemic and develop resilience projects in several economic sectors worldwide. More than €10 billion of covid-19 investments will improve public health, strengthen public services, and support business investment in sectors affected by the pandemic. Nearly €800...

The South African government could help its loss-making power utility Eskom out of the indebtedness that has been drowning the company for years. According to Colin Coleman (pictured), a former MD of U.S. Goldman Sachs Group Inc. in sub-Saharan Africa, the government should shift Eskom’s guaranteed debt to the state balance sheet. Under a bailout plan, Eskom received about $8 billion in...

Initially scheduled for 2021, the launch of the Egyptian earth observation satellite MisrtSat-II is postponed to 2022 due to the coronavirus pandemic. The information was reported by the Head of the satellite development team, Haitham Medhat. He said the team began developing the space infrastructure in 2019 and has already completed the design reviews but delivery has been hampered by the...

Egyptian firm Sarwa Capital plans to issue sukuk bonds worth EGP2.5 billion (about $152.2 million) this year. A request in that regard is pending approval by the financial market regulator, local media reported. Sarwa Capital also engaged talks with potential arrangers and guarantors for its operation. “One of the key criteria for selecting the promoters of the IPO is their ability to...

Affirmative Finance Action for Women in Africa, ImpactHER and UN Women Policy Brief exposes disadvantages to women entrepreneurs in post COVID-19 era, offers solutions. Women-led businesses are more vulnerable to closure than those led by men in the era of the novel coronavirus, due to women’s limited access to finance, shifts in consumer behavior, and the increase in women’s household care...

In Ghana, the parliament has just agreed to waive taxes of $295,000 for the Ghana Space Science and Technology Institute (GSSTI). The measure concerns the acquisition of equipment and hardware for the Ghana Radio Astronomy Project and Collation of the Satellite Earth Observation Ground Receiving Station. GSSTI wants to acquire a reference receiver for the global navigation satellite system...

The Indian infrastructure company, Salasar Techno Engineering, announced on July 14 it has received a $2.43 million order from American Tower Corporation (ATC) for the supply of 189 telecom towers in Nigeria. As part of the deal signed with ATC Africa, the equipment is expected to be delivered within the next two months. The telecom towers will enable ATC to strengthen its footprint on the...

João Domingos Correia, chairman of the board of directors of incumbent operator Cabo Verde Telecom, revealed that the fire that ravaged part of the company's premises on the night of 11 July 2020 could be due to a criminal act. “The real causes of the fire are still unclear,” he said during a press conference, stressing that the company has always been the subject of several attacks on its...

South African Airways (SAA) can now start its restructuring plan, after weeks of negotiations. 86% of the carrier’s creditors voted in favor of a rescue plan on July 14; this is above the 75% approval threshold required by the corporate law. The Department of Public Enterprise announced the appointment of Phillip Saunders as interim CEO of SAA. The cash-strapped company has not recorded any...