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Week commencing 1 October
Helios Investment Partners has acquired a 76% stake in Tpay Mobile from Egypt-based tech investment fund, A15. Tpay, a fast-growing direct carrier billing provider, operates in North Africa and the Middle East.
Africa Global Funds 21 September
The Overseas Private Investment Corporation (Opic) has committed $25m in financing to the Solar Energy Transformation Fund. The fund provides loans to companies developing off-grid solar products for sub-Saharan Africa and Asia.
Africa Global Funds 27 September
Global hospitality chain Hyatt Hotels is entering the Kenyan market. It has signed a management agreement with Kenyan real estate and construction company Kanha for the first Hyatt-branded hotels in Nairobi, expected to open in 2020. Hyatt has hotels in Morocco, Egypt, Tanzania and Zanzibar.
Daily Nation 26 September
Consumer goods manufacturer Unilever East Africa has signed a deal with Nairobi-based plant Mr Green Africa to recycle plastic containers and cut pollution. The pact comes amid the government’s push to cut the use of plastics. Mr Green Africa uses waste to manufacture products such as buckets and water tanks while Unilever’s products such as Blue Band margarine and Vaseline are packaged in plastics. Kenya banned production, selling and using plastic bags last August.
Daily Nation 24 September
The Rwandan government and the Japan International Co-operation Agency (Jica) signed a $24m financing agreement to support the third phase of the rehabilitation of substations and the electricity distribution network. The goal is to enable a stable supply of power and improve the electrification rate in the country’s capital, Kigali.
Liquid Africa 25 September
The Tanzania Petroleum Development Corporation (TPDC) plans to shift to natural gas-powered buses on its transit routes in Dar es Salaam, which will decrease fuel use by up to 50%. The project will see at least 800 buses switch to natural gas. The system is also available to private transport operators. Tanzania plans to use fuel filling stations to distribute natural gas.
Liquid Africa 21 September