$2.75 billion
Value of the African Development Bank's recently launched 5-year Global Benchmark bond, its second of the year. With this latest issue, the bank continues to carry out its funding strategy of issuing large liquid benchmark transactions
(AfDB)
35%
Stake in container terminal port operator Marsa Maroc that the Moroccan government plans to sell to Groupe Tanger Med, operator of the Mediterranean's largest port. The sale is part of the state's efforts to manage its budget deficit and overhaul state-owned enterprises through privatisation and mergers.
(The North Africa Post)
30
Number of new branches of Kukito fast food outlets, Java House restaurant chain plans to open in Nairobi in the next five years, bringing more competition to quick-service eateries in Kenya's capital.
(Business Daily)
$100 million
Investment by the IFC in Egypt's first private sector green bond. Issued by Commercial International Bank (CIB), the country’s largest private bank, the bond will help CIB increase lending to businesses that want to invest in eco-friendly initiatives
(Daily News Egypt)
52%
Increase in the value of cash transactions executed via mobile phones in Kenya in the first six months of the year over the same period of 2021. The record value of $30 billion reflects the continued economic recovery after the Covid-19 lockdowns of last year.
(Business Daily)
3
Units proposed under Eskom's restructuring plans. The South African power company put out a call for financial advisors to support its unbundling into transmission, generation and distribution units to better manage its debt profile.
(Business Tech)
$3 million
Financing raised by B2B logistics platform Omnibiz to digitise supply chain management for informal retailers in Nigeria. The seed round will support the startup to expand its asset-light distribution model from four cities to six.
(Tech Crunch)
10,000
Investors in the initial public offering (IPO) of Tanzanian agribusiness firm, Jatu, on the Dar es Salaam Stock Exchange. Led by local investors, the IPO raised $7.6 million for the youth-led firm, which will be used to finance commercial farming and processing activities.
(Daily News)
75%
Kenya's share of tea sold via the Mombasa auction, highlighting the country's position as the leading exporter in the region. However, Rwandan tea ranks first in terms of price, at $2.46 per kilo compared to $2.07 per kilo for Kenyan tea.
(Business Daily)
$34 million
Injected into Africa's first renewable energy yieldco. UK Climate Investments has established this innovative green finance vehicle alongside Investec Bank Limited and Eskom Pension and Provident Fund. Managed by Revego, the initial portfolio comprises stakes in six projects located across South Africa.
100 years
Production supported by resources at Kenmare Resources's titanium mineral mine in Mozambique at current rates of output. The company, which is one of the world's leading producers of titanium minerals, saw a 278% jump in profits in the first half of the year on the back of increased production and sales.
(Club of Mozambique)
56
Number of Massmart grocery stores in South Africa acquired by Shoprite's grocery unit, Checkers, in an $89 million deal. Walmart-owned Massmart is selling off its fresh food operations to focus on its better performing businesses as it seeks to return to profitability.
(Food Business Africa)
$2 billion
Value Chinese-backed African fintech start-up, OPay, after it raised a $400 million in a round led by SoftBank. The Series C raise is a record in Africa's tech scene and makes OPay the continent's third unicorn after Jumia and Flutterwave.
(Techcrunch)
1st
Protection Designation of Origin (PDO) certificate issued by the EU to an African product. South Africa's rooibos tea will now receive the same protection as Champagne, Porto, Queso Manchego and other iconic products, creating greater product recognition and demand.
(Food Business Africa)
162 MW
Generation capacity added to the Inga II hydropower plant on the Congo River with funding from Kamoa Copper SA and the DRC's power company. The upgrade will bring the plant's capacity to 240 MW. The Kamoa-Kakula Copper Mine will have priority access to the power generated, furthering its aim to be the greenest copper producer.
(ESI Africa)
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