Ezdehar Egypt Mid-Cap Fund and NBK Capital, respectively private equity firm specialized in the funding of Egypt-based medium-size enterprises and the National Bank of Kuwait’s investment branch, have each made a bid to acquire a majority stake in MisrCafé, an Egyptian instant coffee producer and roaster. The information was revealed by the country’s media without more details.  Arqaam...

The International Finance Corporation (IFC), World Bank’s private lending arm, has finalized a $2.75 million loan agreement with Trivitron Healthcare Africa, a medical joint venture targeting Africa. This new resource comes as a complement to the $7.25 million previously mobilized by the joint venture partners Trivitron Healthcare and IFHA (Investment Funds for Health in...

On March 13, 2018, Senegal’s trade minister Alioune Sarr (photo), signed a memorandum of understanding on the marketing of the artisanal-made raw oil and the industrial refined oil with several local operators of the peanut sector. The operators who signed this memorandum are namely Sonacos, Touba agribusiness complex (CAIT) and the industry and agribusiness operators association...

José Salgueiro, the head of studies, planning and statistics office at the Ministry of energy and water revealed that between 2013 and 2017, Angola’s water and energy sector received $13 billion as investments. The official said that the fund was mainly used to expand the country’s energy production and transport capacity. The largest share (80%) went to the energy sub-sector...

The mining giant Glencore signed a cobalt sale agreement with the Chinese battery recycler GEM. Indeed, according to a financial notice published yesterday March 14, the company agreed to sell about a third of the cobalt it will produce, during the next three years, to GEM. Under the agreement’s terms, between 2018 and 2020 the world’s leading cobalt producer will sell a total of 52,000...

Mali expects to produce 750,000 tons of cotton during the 2018-19 season which should begin by May 2018, the agriculture minister announced. In the country which is already assured to be the African leading cotton producer with at least 725,000 tons produced in the 2017-2018 season, this new feat will be achieved by intensifying the mechanization and use of farm input. It will also be realized...

In 2017, Rwanda’s economy grew by 6.1% against 5.9% in 2016. This good performance is the result of an improvement in the agricultural sector, according to the National Institute of Statistics (NISR). Indeed, the latter indicated in a statement that during the period under review, the sector grew by 7% thanks to good food crop harvests.  The figures published by NISR also revealed that...

The International Monetary Fund (IMF) announced in a statement issued yesterday March 14 that it has granted Burkina Faso a 3-year Extended Credit Facility worth $157.6 million to support the economic reforms initiated by the country. This is to equilibrate the balance of payments to foster inclusive growth and reduce poverty by creating a fiscal space for priority investments spending...

To foster the development of Tabou department in Côte d’Ivoire, the prefect Yacouba Doumbia (photo) asked local people and dignitaries to facilitate land access to economic operators and other investors, Agence ivoirienne de presse (AIP) reports. “You need to soften the conditions for land access to attract many economic operators and investors who will use their money to build...

Rawbank, the first trading bank in DR Congo with 24% market shares and nearly 300,000 customers, will secure a $15 million loan from the African Development Bank (AfDB), an official statement reveals. A part of the resource obtained under this credit line will be used to finance the medium and long-term capital needs of about fifteen SMEs active in the industry, infrastructures,...