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Week commencing 4 March
Electricity generator company KenGen has secured a $76m contract to drill geothermal wells in Ethiopia in a joint bid with Chinese company Shandong Kerui Group. The project involves drilling as well as rig operation and maintenance of geothermal wells at Aluto Langano Geothermal Power Station.
Daily Nation 26 February
Saudi Arabian energy company Acwa Power is expected to finalise its three 160MW projects in the Benban Solar Park in Aswan, which are worth $200m, by the end of June. The investment climate in Egypt is improving following regulations introduced recently.
Daily News Egypt 24 February
Dubai-based investment company NBK Capital Partners has acquired the King Integrated American School through portfolio company Kaumeya Language Schools. Following the acquisition, the school will be rebranded KLS King Mariut.
Africa Global Funds 27 February
South African-based retail company Massmart plans to expand into Kenya and Zambia. Massmart plans to open four stores including a Builders Warehouse in Kenya and five in Zambia. Builders Warehouse is Massmart’s building materials and appliances chain.
Standard Media 1 March
London-based pan African private equity firm Development Partners International has invested an undisclosed amount in International Facilities Services, a facilities management specialist in Africa. IFS provides a full suite of specialist facility management services to clients at remote sites across the African continent including catering, maintenance, laundry and housekeeping.
Africa Global Funds 25 February
Moroccan telecommunications company Maroc Telecom is planning to enter Chad’s telecommunications market. Maroc will face two foreign competitors — Luxembourg’s Tigo and India’s Bharti Airtel. Chad would be Maroc Telecom’s 10th African market.
Morocco World News 23 February