Norwegian Empower New Energy to invest US$2M in 4 solar plants in Morocco

MOROCCO – Norwegian Empower New Energy, an impact fund manager investing in small and medium-scale renewable energy projects is set to invest US$2 million in 4 Zalar Holding’s plants. Zalar Holdings is Morocco’s leading poultry Group that deals with grain trading, animal feed, hatchery, broiler, as well as slaughtering & meat processing. The Norwegian business will work with Morocco’s renewable…

Read More

FONSIS partners IFC to strengthen the supply of affordable housing in Senegal

SENEGAL – Senegal’s Sovereign Strategic Investments Fund (FONSIS) has partnered with International Finance Corporation (IFC) to enhance the supply of affordable housing in Senegal. The partnership will develop 20,000 housing units for the next 8 to 10 years through a special fund called Kajom Capital. Under the agreement, IFC and FONSIS will acquire homes from developers and make them available…

Read More

AfDB to support private sector investment and renewable energy transition in South Africa

SOUTH AFRICA – The African Development Bank (AfDB) is committing US$2.8 billion over the next five years to support private sector investment in South Africa. The government of Africa’s most developed nation is seeking to foster a rebound from the global pandemic, which temporarily shuttered large swathes of the economy and helped push unemployment rates to record levels. The support…

Read More

AfDB approves US$88.2M for transport facilitation in Liberia and Sierra Leone

WEST AFRICA –African Development Bank Group has approved US$88.2 million in financing for the third phase of the Road Development and Transport Facilitation Programme for the Mano River Union. The Mano River Union is an international association initially established between Liberia and Sierra Leone in 1973 under the Mano River Declaration. The Mano River begins in the Guinea highlands and…

Read More

Morocco and Senegal join forces to fuel energy transition in the two countries

AFRICA – Morocco’s Agency for Energy Efficiency and the Senegalese National Agency for Renewable Energy have signed an agreement for joint advancement in the energy transition. The new dynamic arrangement, facilitated by the Andalusia Agency for International Development, includes comprehensive training for Senegalese officials in Rabat and a reciprocal arrangement for their Moroccan counterparts in Dakar. The move builds on…

Read More

Compass capital secures US$10M financing to acquire portfolio of Grade A office buildings in Egypt

EGYPT – Egyptian private equity firm, Compass capital has secured US10 million debt funding from Vantage Capital to acquire six grade A office buildings in East Cairo. The acquisition is being made by Compass Capital’s existing real estate company, Bonyan for Development and Trade, which owns and operates the Walk of Cairo, an outdoor retail boulevard in West Cairo. The…

Read More

Hospitality investor Kasada Capital Management acquires Cape Grace hotel

SOUTH AFRICA – Kasada Capital Management (Kasada), the investment platform within Kasada Group dedicated to hospitality investments in Sub-Saharan Africa, has announced the acquisition of the 120-key Cape Grace hotel in Cape Town, South Africa. This acquisition marks Kasada’s entry into the South African hospitality market and the continued fulfilment of the platform’s strategy to expand its presence in key…

Read More

KoTDA signs MoU with ASSEK to enhance innovation and support startups in Kenya

KENYA – Konza Technopolis Development Authority (KoTDA) and Association of Startups and SME Enablers in Kenya (ASSEK) have signed a Memorandum of Understanding (MoU) to enhance innovation and support startups in Kenya. The two parties agreed to achieve this by utilizing existing innovation platforms, conducting joint innovation initiatives and jointly lobbying for innovation policies development starting with the Startup Bill…

Read More

Ethiopian Airlines appoints Mesfin Tasew Bekele as Chief Executive Officer

ETHIOPIA – The Board of Management of Ethiopian Airlines Group has announced the appointment of Mr. Mesfin Tasew Bekele, as Chief Executive Officer of the airlines group, effective March 23, 2022. Mr Mesfin has been a successor to the former CEO of the Airline group, Tewolde GebreMariam whose early retirement request due to health issues has been approved by the…

Read More

Microsoft launches its engineering hub in Kenya after three years of successful operation

KENYA – Microsoft’s premier engineering hub, the African Development Centre (ADC), is relocating to its own offices in Nairobi, demonstrating the company’s commitment to the continent. After three years of successful operation in Kenya, the ADC will now be based at Dunhill Towers along Waiyaki Way in its new ultra-modern state-of-the-art facility, the first of its kind serving the East…

Read More