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Week commencing 16 September
De Raj Group has agreed to acquire a wastewater treatment plant in Namibia. The construction of the water recycling plant was completed four years ago and is highly profitable with an annual turnover of $4.4m.
Liquid Africa 12 September
Mauritian investor SSCG Africa Holdings has acquired 100% of Bellfield, which owns a 41% stake in Edgars. The Competition and Tariff Commission approved the acquisition without any conditions and the SSCG will now have direct control in Edgars.
Ghanaian incubator Meltwater has invested $1.1m in 11 tech start-ups that form part of its 2019 tech school group. The start-ups will each receive $100 000 and hail from Nigeria, Kenya, Ghana and South Africa.
Liquid Africa 10 September
Duet Private Equity and EMEA Capital have invested an undisclosed amount into UK-based fintech business Moneybaba. The investment will be used to launch Moneybaba’s service in Africa. Moneybaba is an online lender focused on providing access across emerging countries and is set to use the capital to expand its global operations.
Liquid Africa 9 September
Co-op Bank is set to open five new branches, increasing its physical outlets to 160 despite the banking industry’s growing focus on digital banking. The new branches will be in Nairobi, Kapenguria, Maralal and Chogoria as Co-op seeks to keep-up with competition in cash-rich areas while also reaching out to underserved regions
Daily Nation 12 September
Standard Chartered Bank Kenya (StanChart) has set aside $192,872.29 to support this year’s search for women-led tech start-ups. The programme, Women in Tech Incubator, is a partnership between StanChart and Strathmore University that aims to support women entrepreneurs.
Business Daily 12 September
Spanish company Himonoisa, which specialises in electrical equipment, has opened a subsidiary in Morocco. This marks the company’s third sales office in Africa after opening in Angola in 2012 and in South Africa in 2016.
Morocco World News 11 September