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Week commencing 15 July
Indian turnkey management firm Nuberg EPC has been selected by Morocco’s SCE Chemicals to build a new Chlor-Alkali factory. The construction will take place in an industrial park near Casablanca.
Morocco World News 11 July
Sterling Capital has reached a deal to acquire a 20% stake in Afvest, an emerging markets private equity firm, for an undisclosed value. Afvest, backed by Kenyan professionals, largely focuses on technology-driven start-ups and early-stage enterprises with growth potential.
Business Daily Africa 9 July
Bharti Airtel’s African unit is listing in Nigeria after raising about $750m in London at the end of last month. Bharti, Africa’s second-largest wireless carrier by subscribers, now becomes Nigeria’s third-largest listed company.
Bloomberg 9 July
OPay, an Africa-focused mobile payments start-up founded by Norwegian browser company Opera, has raised $50m in funding. OPay will use the capital primarily to grow its digital finance business in Nigeria. Lead investors include Sequoia China, IDG Capital and Source Code Capital.
Liquid Africa 10 July
NOTS Solar Lamps, an impact enterprise, and the government have announced a landmark deal that will accelerate the provision of electricity to the lowest-income families in Rwanda. NOTS will invest $70m over five years in a manufacturing facility for solar home systems – the first in Africa. Solar home systems are recognised by the United Nations and World Bank as an essential technology in the effort to provide rural families with electricity, ending energy poverty and enhancing life opportunities.
Liquid Africa 9 July