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Week commencing 24 September
Republic of Congo
Danish chemical maker Haldor Topsoe will help the Republic of Congo build a $2.5bn fertiliser plant near the port city of Pointe Noire. The facility will help diversify Congo’s oil-dependent economy and the location of the plant will facilitate international exports.
Liquid Africa 18 September
Goldman Sachs has led a $52m investment round in Jumo with participation from other leading investors. Jumo is a global technology company providing information services, financial infrastructure and products designed to reach the unbanked across the globe. Jumo has offices in Kenya, Uganda, Tanzania, Rwanda, Ghana, Zambia, Pakistan, the UK, Singapore and SA.
Africa Global Funds 18 September
Global satellite operator Yahsat announced a joint venture with Hughes Network Systems (Hughes), a subsidiary of EchoStar Corporation. The venture will provide commercial Ka-band satellite broadband services across Africa, the Middle East and southwest Asia. Hughes will purchase a minority interest in the venture, which will provide unserved and underserved communities with internet services.
The Guardian (Nigeria) 14 September
Global asset management company The Carlyle Group has completed the acquisition of a majority stake in AK Life Sciences (Abacus), a pharmaceutical company in East Africa, for an undisclosed amount. Abacus has an extensive distribution network with 30 wholesale branches across Uganda, Tanzania, Burundi, Rwanda and Kenya, many of which are in remote areas.
Africa Global Funds 20 September
French automotive plastic parts manufacturer Novares opened its first production plant in Kenitra, Morocco. The plant will produce engine components including air filters; acoustic covers; exterior car parts such as mudguards; and interior parts such as instrument panel components. The plant is the third the company has opened in a year after building new plants in Romania and Mexico.
Morocco World News 19 September
Blockchain Soluna and DMG Blockchain Solutions have signed a partnership agreement to support Soluna’s large-scale wind farm in Morocco. Soluna plans to develop a 37,000-acre wind farm in Dakhla in southern Morocco. DMG will provide Soluna with hardware procurement, data centre design, mining setup, remote hardware and systems monitoring.
Morocco World News 15 September