Lodging owner-operator Ascott launches its first serviced residence in Kenya

KENYA – Ascott Limited, a Singaporean wholly owned lodging business, has opened its first property in Kenya, the Somerset Westview Nairobi, as it seeks to expand to the wider East Africa region and Africa. The property is in proximity to a variety of international schools, healthcare centers, restaurants, and shopping malls, including the popular Yaya Centre. The property hosts the…

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BUTEC Group acquires ENGIE’s Energy Services activities in Africa

AFRICA – UAE-based leading contracting group in the MENA and GCC regions, BUTEC Group, has completed the acquisition of all ENGIE Energy Services activities in Africa. The completion of the deal follows an initial agreement signed on the 16th of last December between the two groups. The 17 acquired companies focus on multi-technical services related to energy efficiency, electro-mechanical works,…

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Construction giant WBHO appoints Senyo M. Adjabeng as Ghana Country Director

GHANA – The global construction giant WBHO has appointed Senyo M. Adjabeng as its Country Director for Ghana. Prior to his appointment, Mr. Adjabeng was the human resources lead for the business in Ghana. He brings 20 years of experience working in various executive positions and sectors in Ghana including banking, consulting, judicial services, and construction. Mr. Adjabeng is a…

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Engineering infrastructure provider ieng secures US$20m from BluePeak Private Capital

AFRICA – BluePeak Private Capital, an alternative asset management firm, has invested US$20 million in ieng, a pan-African provider of engineering and construction, operations and maintenance, and hybrid power solutions to telecommunications and power industries across Africa. The growth capital supports ieng’s geographic expansion plan across the continent, enabling the company to provide innovative and cost-effective solutions to a broader…

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MIGA issues US$212m guarantees to support Kenya’s Roads Annuity Program

KENYA – The Multilateral Investment Guarantee Agency (MIGA) has issued guarantees of US$212 million covering equity by Mota-Engil Africa as well as loans from Stanbic Bank to support Kenya’s Roads Annuity Program (Lots 15 and 18), which aims to improve the country’s national road network. MIGA is an international financial institution which offers political risk insurance and credit enhancement guarantees…

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Insurer Jubilee buys new property for US$9m as its new headquarters

KENYA – Jubilee Holdings, a financial service holding company, has bought Coca-Cola East Africa’s former head office in Nairobi’s Upper Hill at a cost of KSh1.1 billion (US$9.55m), with the insurer planning to move its headquarters to the property in September. Jubilee will lease out part of its current address –Jubilee Insurance House on Wabera Street— which will also continue…

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Letshego Bank Namibia secures US$30m facility to extend affordable housing finance

NAMIBIA – Letshego Bank Namibia, a commercial bank, and the International Finance Corporation (IFC) to provide Namibians with affordable housing finance. The IFC is a member of the World Bank group and is headquartered in Washington, DC, in the United States. It offers investment, advisory and asset management services to encourage private-sector development in less-developed countries. A statement from the…

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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…

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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…

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