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Week commencing 9 September
French power producer Engie has acquired Mobisol, a Berlin-based solar solutions firm whose regional operations are headquartered in Nairobi. The acquisition gives Engie a foothold in nine countries across Africa.
Business Daily 5 September
Botswana-based retailer Choppies Supermarket is exiting the Kenyan market four years after acquiring Ukwala stores for $9.6m. Choppies has struggled to grow its market share in an increasingly competitive retail market. The retailer announced that it had listed its Kenyan assets for sale and had also classified 12 of its stores as distressed.
Business Daily 6 September
Kevian Kenya, which produces Afia and Pick N’ Peel juice brands, has established a new $3.3m recycling plant in Thika to manufacture industrial materials. Kevian chairman Kimani Rugendo says the new venture is part of the firm’s expansion plans in an area that has been neglected by investors.
Business Daily 4 September
Capricorn Investment Group, owner of Bank Windhoek in Namibia, has acquired a 30% stake in pan-African telecoms group Paratus Africa Group. The investment is valued at $17m and is expected to broaden CIG’s reach into key sectors including banking, microfinance, insurance, asset management and telecoms.
Liquid Africa 4 September
Pyramids Developments has launched Paris East Mall, its latest commercial project in Egypt’s New Administrative Capital, following a $121.3m investment. The mall includes residential, commercial and entertainment facilities.
Daily News Egypt 3 September