Private equity firms injected about MAD765 million (about $79.5 million) in Moroccan businesses last year, according to the 2019 equity investment report by the Association Marocaine des Investisseurs en Capital. Investments were carried out through acquisition of less than 34% of stake in the businesses. Companies in the services and transport sector captured most of the money, followed by...

The government of Kenya will invest over KSh62 billion (about $612 million) in water supply projects this year, Ismail Fahmy Shaiye, Head of the Water Sector Trust Fund, announced. Projects seek to increase access to basic infrastructure services to the poor and most marginalized populations. Last week, the government launched in collaboration with some German companies a project aiming at...

Over 200 leading African political, business, and diplomatic leaders gathered in Johannesburg for the 8th African Leadership Magazine Persons of the Year Award dinner. They witnessed Dr. Akinwumi Adesina, President of the African Development Bank, being honored as the African of the Year 2019.   Themed ‘Africa for Africans – Exploring the Gains of a Connected Continent’, the...

Global communications enabler Belgacom International Carrier Services (BICS) has joined the Smart Africa Alliance to implement the One Africa Network (OAN), the free-roaming initiative on the continent. Smart Africa seeks to connect Africa and help member countries achieve sustainable development goals by capitalizing on ICT. The related agreement was signed on February 27 in Brussels, Belgium,...

Afrikrea, a Côte d’Ivoire-based startup specializing in the online sale of creations by African artists working in the art, fashion and handicrafts sector, has finalized a $1 million financing round with Saviu Ventures, an investment firm that targets companies with high growth potential in Côte d'Ivoire and Senegal. Showroomprive.com, the French specialist in online event sales, and ID4...

Burkina Faso raised an amount of CFA33 billion (about $55.5 million) on the WAEMU public securities market through the issue of 6-month Treasury Bills (BATs).At the end of this operation carried out on February 26, Burkina Faso collected CFA85.743 billion (about $144.3 million) for an initial requested amount of CFA30 billion (about $50.5 million), a remarkable coverage rate of...

The European Union (EU) announced on Wednesday 26 February an envelope of €11.45 million to support humanitarian aid projects in Burkina Faso. The information was given in a press release following a visit by EU representatives to the north-central part of the country on Tuesday 25 February to meet displaced persons. “This financial assistance will provide humanitarian aid to internally...

The African Union is considering sending 3,000 more soldiers to the Sahel to help combat the escalating terrorism activity in the region. This was announced February 27 in Addis Ababa by Smaïl Chergui (pictured), AU Peace and Security Commissioner. The new troops are going to support the G5 Sahel Force, which is still struggling to become operational, as well as the French Barkhane force. AU...

Nigeria-based analysis and investment firm CardinalStone calls upon investors to ditch their interest in Total Nigeria. The capital market company says Total has a current stock market value of 21 times its last net profit. This indicator is on average 8 times the net profit for companies operating on the same segment. Indeed, the year 2019 was a tough one for the local arm of French group...

Five (5) African countries have just been placed under enhanced surveillance by the Financial Action Task Force (FATF), an inter-governmental body which fights money laundering and terror financing. This decision was taken at the end of the plenary session held from Feb 16-21 in Paris. Concerned countries are Botswana, Ghana, Mauritius, Uganda, and Zimbabwe, which join 13 others on the...