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Week commencing 17 December
The Competition Authority of Kenya has approved the acquisition of a 32.5% stake in Kenyan hospital chain City Eye Hospital by Swiss-based private banking company LGT Group. LGT is the largest family-owned private wealth and asset manager in Europe. The hospital provides outpatient services, diagnosis, treatment and counselling as well as surgery facilities.
Liquid Africa 13 December
Nairobi-based Bank of Africa (CBA) has opened merger talks with commercial bank National Industrial Credit Bank (NIC). The merger will create one of the largest financial services groups in East Africa, with a customer base estimated at 38-million people.
The New Times 7 December
South African-based food retailer Shoprite Holdings opened its first store in Nairobi last week following the collapse of two local supermarket chains, Nakumatt Holdings and the state-backed Uchumi Supermarkets. French retailer Carrefour, Walmart’s Massmart Holdings and Choppies Enterprises of Botswana are also muscling in on the vacated market space.
Bloomberg 13 December
Pan African internet provider Liquid Telecom will invest $400m on data centres, infrastructure and financial inclusion in a deal signed with Telecom Egypt. The agreement includes a partnership between Telecom Egypt and Africa Data Centres, a subsidiary of Liquid, to build and operate the data centres.
Egypt Business Directory 10 December
Sardar Family Office (SFO), a wealth management and private equity company, and local real estate investment and development company HC Capital Properties have invested an undisclosed amount in Cosmos Yopougo, a shopping centre in Côte d’Ivoire.
Africa Global Funds 13 December
African banking conglomerate Ecobank bank has appointed digital payment partner MFS Africa to enable cross-platform payment services for Ecobank account holders. The partnership allows Ecobank customers to send and receive money to and from more than 170-million mobile money users.
The New Times 12 December
Please note that this will be the final Leriba Africa newsbrief of the year. We wish you a festive season