Autochek acquires Morocco’s KIFAL Auto to drive North Africa expansion

MOROCCO – Autochek, the automotive technology company making car ownership more accessible and affordable across Africa, has announced the acquisition of Morocco’s KIFAL Auto to drive its expansion into North Africa. This acquisition represents the first major expansion of a West Africa-based startup into North Africa and it will facilitate effective Pan-African collaboration to drive innovation across the continent’s growing…

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East African Breweries appoints Anne-Joy Michira as Marketing and Innovations Director

KENYA – East African Breweries Plc has appointed Anne-Joy Michira as the Marketing & Innovation Director for East Africa with effect from 1st May 2022, taking over from Graham Villiers-Tuthill. Until her appointment, Anne Joy, was holding fort as acting Marketing Director for the company’s subsidiary, Kenya Breweries Limited (KBL). Prior to the announcement, she was the Head of Marketing…

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Ramco Plexus giant packaging supplier in Kenya takes full ownership of Platinum Packaging

KENYA – Ramco Plexus, the print and packaging unit of Kenya based Ramco Group, has received unconditional regulatory approval to take full control of Platinum Packaging in a transaction that sources estimated at about Ksh500 million (US$4.30m). Platinum Packaging is one of the largest gravures and digital printed flexible packaging company in the Eastern and Central African region, serving the…

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Rihanna set to launch Fenty beauty & Fenty skin across 8 African countries

AFRICA – Fenty Beauty and Fenty Skin products, a business by singer and businesswoman Robyn Rihanna Fenty (Rihanna), has launched across eight African markets. Within Africa, Fenty Beauty and Fenty Skin will be available starting May 27 at Arc Stores and Edgars in South Africa, Essenza in Nigeria and Ghana, Lintons Beauty in Kenya, Edgars in Namibia and Botswana, Color…

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EXEO Capital acquires majority stake in Chemical Process Technologies

SOUTH AFRICA – EXEO Capital, an alternative investment partner in Africa, has acquired a majority stake in a chemical synthesis company, Chemical Process Technologies (CPT). CPT is currently the only manufacturer of animal active pharmaceutical ingredients (APIs) on the African continent. As is the case with human APIs, South Africa, in particular, is heavily reliant on imported animal APIs manufactured…

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Luxembourg-based Ardagh acquires OMPE’s stake in glass packaging company Consol Holdings

SOUTH AFRICA – Old Mutual Private Equity (OMPE), a division of Old Mutual Alternative Investments, has sold its stake in Consol Holdings to Luxembourg-based Ardagh Group, one of the largest glass producers in the world, for an equity value of approximately R10 billion (US$616.21m) and enterprise value of approximately R17 billion (US$1.05bn). All conditions precedent have now been met and…

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Stellantis reports US$43.57B net revenues in first quarter of 2022

MOROCCO – Stellantis, a multinational car manufacturer present in Morocco, has reported a turnover of US$43.57 billion in the first quarter (Q1) of 2022, up 12% compared to last year’s US$38.94billion. According to Stellantis’ reporting, its shipment volume decreased by 12% in Q1 2022, due to the global shortage in semiconductor chips, an essential micro-electric component for cars. Over the…

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Mabati Rolling Mills appoints Manish Mehra as new chief executive officer

KENYA – Mabati Rolling Mills (MRM), a manufacturer and distributer of steel roofing tiles and iron sheets, has appointed Manish Mehra as the new chief executive officer, replacing Andrew Heycott who has been at the helm for eight years. Mr Mehra has since June 2021 served as the business head for Building Solutions at MRM, a company associated with billionaire…

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Norfund backs expansion of SA based dried fruit, nuts processor Redsun with US$8m equity investment

SOUTH AFRICA – Norfund, the Norwegian Investment Fund for Developing Countries, has invested US$8m in South Africa-based raisin processor and distributor, Redsun Dried Fruit and Nuts. The equity investment will be channelled towards expanding Redsun’s operations with two new state-of-the-art facilities that will help it grow its market share in the healthy snacks market. As part of the plan, growth…

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Mr Price acquires controlling stake in retailer group Studio 88 Group

SOUTH AFRICA – Mr Price, value fashion and homeware retailer, has announced on that it is acquiring 70% of the owner of Studio 88 Group, which includes the SideStep, John Craig, Skipper Bar brands, for R3.3 billion (US$225.23m). Mr Price described the Studio 88 group, which operates over 700 stores, as the “largest independent retailer of branded leisure, lifestyle and…

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