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Week commencing 11 February
Dubai-based logistics and shipping company ISS Global Forwarding is acquiring Dodwell & Co from Kenyan firm Inchape Shipping Services. Dodwell & Co, based in Mombasa, is involved in maritime and freight forwarding services. The deal will see the United Arab Emirates government step up competition in the local logistics sector that is dominated by players including Danish conglomerate Maersk and French firm Bolloré.
Business Daily 7 February
Mauritian duty-free company Mauritius Duty Free Paradise has announced plans to venture into the Kenyan market with an as-yet unnamed local partner. Duty-free retailers have bulked up their footprints around the world as wealthy travellers splurge millions on products such as designer shirts, watches and cosmetics.
Business Daily 6 February
Belgium-based Radisson Hotel Group plans to operate 130 hotels in Africa by 2022. After rebranding last year from Carlson Rezidor Hotel Group, the company introduced new brands in Africa including the Radisson Collection. Radisson plans to open five more hotels this year in Algeria, Morocco, Guinea, Niger and Kenya.
Reuters 7 February
Kenyan-based Britam Asset Managers has invested $1,4m in private equity firm Everstrong Capital, which invests in energy assets in Africa. Everstrong Capital has used the funds to buy a stake in the Heavy Fuel Oil Athi River II Power Plant owned by Gulf Energy, one of the top oil and energy players in East Africa.
Africa Global Funds 5 February
Egyptian Afreximbank has edged closer to operationalisation of its newly created export fund with an initial $100m commitment. The Fund for Export Development in Africa aims to support technology space, travel & tourism, transport & logistics and industrial companies.
The New Times 5 February