Furniture startup Moko Home + Living raises US$6.5m to expand its market in Kenya

KENYA – Moko Home + Living, a Kenyan furniture startup, has raised US$6.5 million for expansion in the Kenyan market. This Series B debt-equity funding round was co-led by U.S.-based investment fund Talanton and Swiss investor AlphaMundi Group. Other participants include Novastar ventures, Blink CV, and Kenya’s Victoria Commercial Bank which offered US$2 million in debt financing. Apart from funding…

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ECC acquires controlling stake in Egyptian beauty platform Source Beauty

EGYPT – Source Beauty, the first beauty platform located in Egypt, has acquired an investment from ECC in exchange for controlling ownership in the company. ECC is one of the major producers of beauty and personal care products in Egypt and gives a significant potential for Source Beauty to deliver an upgraded service to its clients, including new product creation…

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ARISE Integrated Industrial Platforms set to develop industrial zone in Rwanda

RWANDA – ARISE Integrated Industrial Platforms (ARISE IIP), a developer and operator of world-class industrial ecosystems across Africa, in partnership with the Government of Rwanda, has announced the signing of a framework agreement for the development of an industrial zone in Bugesera District, Rwanda. This agreement, in line with ARISE IIP’s ambition to unlock Africa’s industrial potential, will support the…

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Kenya Association of Manufacturers appoints Anthony Mwangi as CEO

KENYA – The Kenya Association of Manufacturers (KAM), the representative organisation for manufacturing value-add industries in Kenya, has appointed Mr. Anthony Mwangi as the Chief Executive Officer, effective 15th September 2022. Mwangi will take over from Acting CEO Tobias Alando who took over in July after Phyllis Wakiaga’s exit. Tobias Alando has been appointed the Chief Operating Officer (COO). He…

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E-commerce platform Copia Global launches new manufacturing unit

KENYA – Copia Global, the B2C e-commerce platform designed to serve the rapidly growing middle and low-income African consumer market, has launched a new manufacturing unit that will enable it to enhance its output of affordable sugar and rice to the Kenyan market. The new machine doubles the capacity offered by Copia to supply the goods to the Kenyan market,…

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LMI Holdings secures US$30m from IFC for industrial development in Ghana

GHANA – The International Finance Corporation (IFC), a member of the World Bank, and LMI Holdings, a construction company, have announced a partnership to provide essential infrastructure services to manufacturing companies in Ghana. They will support job creation and greener, more sustainable and more competitive industrial development in LMI-operated special economic zones in the country. Under the partnership, LMI will…

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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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Ghana to build pharmaceutical manufacturing hub to promote local production

GHANA – Ghanaian President Nana Akufo-Addo has ordered the establishment of an advanced pharmaceutical manufacturing hub named Pharma Park to promote local pharmaceutical production in the country. The pharmaceutical industry will partner with the Pharmaceutical Chamber to create Pharma Park in the industrial zone with accessible lands for the pharmaceutical sector to set up manufacturing factories. The Government intends to…

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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 invests US$7.5M in Continental Blue Investments in Ghana

GHANA – Norfund, a development finance institution has invested US$7.5 million in Continental Blue Investments Ghana Limited (CBI) to create jobs while reducing emissions. The investment has been made alongside the Danish Investment Fund for Developing Countries (IFU) and the engineering firm FLSmidth as equity investors. Société-Générale is providing senior debt that is guaranteed by the Danish Export Agency. FLSmidth…

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