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Week commencing 3 June
US real estate investment and trust company American Tower has agreed to buy UK-based pan African tower company Eaton Tower for $1.85bn, including debt. It is one of the few international providers of telecommunications infrastructure in the fast-growing African market.
Financial Times 30 May
Dutch family-backed impact investor DOB Equity has invested in Zanzibar waste collection company Zanrec for an undisclosed amount. The investment will expand the company’s growth and enable it to widen its range of commercial solutions in waste collection, recycling and awareness.
Liquid Africa 29 May
The construction and commissioning of the EuroAfrica interconnector, which will interconnect the electricity networks of Egypt and Cyprus, was officially signed this week. The agreement provides for the development of an electricity interconnection with the use of subsea high voltage cables. The signed agreement follows the conclusion of viability studies conducted by EuroAfrica.
Egypt Business Directory 24 May
The Emerging Africa Infrastructure Fund has lent the Guinea Alumina Corporation $40m over 14 years as part of a $750m debt package being led by the International Finance Corporation. The majority of the capital will be used to finance port and marine facilities, the railway and associated infrastructure.
Africa Global Funds 30 May
South African-based telecommunications company MTN identified Ethiopia as a market into which it wants to expand. Ethiopian Prime Minister Abiy Ahmed said last year he is looking to bring in private investors to the country’s telecommunications sector for the first time.
Bloomberg 30 May