MTN launched a mobile money-based Initial Public Offering in Ghana. It is the first time shares of a major corporation can be purchased using mobile money accounts. Ghanaians will be able to buy shares using Momo Wallet, MTN’s local mobile money platform with 6.2 million users. With this, MTN Ghana hopes to raise about $743…
NAIROBI, May 31 (Reuters) – A private Kenyan power firm has signed a 20-year deal to sell 40 megawatts it will generate from a solar plant it is building to the East African nation’s state-run distributor, its chief executive said. Kenergy Renewables signed the agreement to sell the electricity to Kenya Power at $0.08 per…
Old Mutual Private Equity (OMPE), one of the largest and most established private equity players in South Africa, has acquired a 50% interest in Medhold Group (Medhold), a prominent end-to-end supplier of world-class medical devices. The transaction has obtained unconditional approval from the Competition Commission in South Africa and pending approval from the Competition Commission…
The Federal Executive Council (FEC) has approved immediate renegotiations of the East-West road contract with the handlers as well as its early construction of the Oron-Calabar segment. Usani Uguru Usani ,the Minister of Niger Delta lamented that over the years, his ministry has been bedeviled with several abandoned projects, which are now being completed and…
El Gestor de Infraestructuras de Telecomunicaciones de Guinea Ecuatorial (GITGE) is officially inaugurating Equatorial Guinea’s new Ceiba-2 fiber optic cable project during a private event on June 4 in Malabo. Keynotes for the launch of the state-of-the-art fiber optic cable include the President of Equatorial Guinea, H.E. Teodoro Obiang Nguema Mbasogo, the Minister of Telecommunications…
India’s Engineering ,procurement and construction ,EPC firm Sterling and Wilson in India,is set to construct both the largest battery storage project and single battery installation in the whole continent in bid to boost education sector in Africa. Sterling and Wilson confirmed and said the project would be a first of its kind powering behind-the-meter clients…
The government of Korea has signed a letter of intent with the African Development Bank, AfDB to launch the Korea–Africa Energy Investment Facility (KEIF), which will provide significant support to the New Deal on Energy for Africa, with aims to achieve universal access to energy. The signing, which took place during the Korea–Africa Economic Cooperation…
Kenya is planning to construct four new state-of-the-art stadiums in Nairobi County. This is in a move to address the shortage in recreational facilities for the youth in the county and also to encourage more sporting activities. The Four New Stadiums Confirming the reports was Nairobi County Executive in charge of Education and Sports Janet…
African central bank leaders are currently discussing whether to hold the yuan as part of their foreign reserves, highlighting the Chinese money’s rise as one of the world’s major reserve currencies. Government officials from 14 African nations in eastern and southern Africa are meeting today (May 29) in the Zimbabwean capital Harare to discuss sovereign…
Foreign investment in sub-Saharan Africa’s power sector has reached a record-high. Spurred on by the United Nations’ goal to ensure modern energy access for all by 2030, international donors have focused on increasing the region’s electrification access. It currently stands at only 35%, significantly less than any other part of the world. The focus on electrification is illustrated…