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Week commencing 9 October 2017
The world’s largest brewer, Anheuser-Busch InBev (AB InBev) has completed the transition of its 54.5% equity stake in Coca-Cola Beverages Africa (CCBA) for $3.15bn after customary adjustments. This comes after AB InBev acquired SABMiller for $104bn last year, and reached an agreement to transition its equity stake in CCBA to Coca-Cola. The deal includes entities in African states, which account for about 40% of all Coca-Cola beverage volumes in Africa.
Corporate Digest 5 October
Dutch development bank FMO has underwritten $39m in senior debt for the financing of the 16MW and 6MW Nyamagasani hydropower projects. The new hydropower plants will generate clean, low-carbon, sustainable electricity to about 161,722 people. Both projects are majority owned by funds managed by Frontier Energy, a Danish private equity fund manager that is developing a portfolio of renewable energy plants in eastern Africa.
Africa Global Funds 2 October
CDC Group, the UK’s development finance institution, has invested $40m in Africa Capitalworks. The investment will enable Africa Capitalworks provide permanent equity capital to growing mid-market companies and grow the businesses over the long term.
Africa Global Funds 5 October
Private eqyity firm, responsAbility has invested in mobile payments platform, Fawry. The fintech company aims to use the investment to accelerate the expansion of cashless payments and financial inclusion by leveraging its mobile platform and distribution network. This will enable the firm to provide financial services for sections of the population that have so far been underserved – at costs that will allow the model to be commercially sustainable, while furthering the spread of cashless transactions.
responAbility 3 October
Hyatt Hotels and Resorts is targeting to open a new hotel in Arusha in 2019 as part of the chain’s expansion in Africa. The American multinational owner of hotels, resorts, and vacation properties is aiming to open six new hotels in Africa by 2020. The developments are expected to see the Hyatt brand enter four new countries on the continent, creating more than 2,100 new jobs once opened.
The Citizen Tanzania 4 October