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Week commencing 10 December
The European Union’s non-profit institution, The European Investment Bank (EIB), plans to invest in the Cameroon-Chad electricity interconnection project. A 700km power transmission line linking Cameroon to Chad will be installed while a 250km link road between Cameroon and Chad is planned.
Liquid Africa 5 December
Africa’s largest mezzanine fund manager, Vantage Capital, has provided €19m to Pétro Ivoire, a distributor of oil & gas products in Côte d’Ivoire. The funding has enabled the Kadio-Morokro founding family to regain a controlling equity stake in the company by facilitating the buyback of equity from two exiting private equity investors, Amethis and the West Africa Emerging Markets Growth Fund.
Liquid Africa 4 December
Private equity firm Ascent Capital Africa plans to raise $120m for its second fund that will invest in mid-sized companies across East Africa, where domestic demand is expanding. Ascent’s new fund, named the Ascent Rift Valley Fund II, will be based in Mauritius and targets raising as much as $90m in the first round
Bloomberg 6 December
The International Finance Corporation (IFC) signed a two-year $500,000 advisory deal with Kenyan-based I&M Bank to expand access to finance for small and medium enterprises. The advisory project is the first for the IFC in Rwanda.
The New Times 5 December
Oil marketer Vivo Energy, which trades in Kenya under the Shell brand, has opened a $200,000 station in Lavington that will be the biggest outlet in Africa. The outlet will host coffee chain Java House, fast food outlet KFC, Safe Dose pharmacy and White Rose Drycleaners.
Business Daily 6 December
Telecommunications firm Telkom Kenya will be mapping a new fibre optic cable route that could enable its customers to enjoy higher speeds and eventually lower costs. The cable, known as Djibouti African Regional Express, will run for approximately 4,000km and link Djibouti, Somalia and Kenya through a partnership with Djibouti telecommunications.
Business Daily 5 December