To receive this brief in your email every Monday, please subscribe here.
Week commencing 12 June 2017
The Emerging Africa Infrastructure Fund has signed a participation agreement with the International Finance Corporation to provide a $16.9m B Loan, with a 16-year term, to Central Solar de Mocuba in northern Mozambique. The fund will provide a further $7m viability gap funding grant for the project raised from the Private Infrastructure Development Group. The $76m plant forms a core element of the Mozambique government’s strategy of incentivising the creation of small and medium-sized businesses in the mainly rural Mocuba area.
Club of Mozambique 7 June
The World Bank has approved a $150m International Development Association credit for Ghana’s Transport Sector Improvement Project. The project will improve regional connectivity, rehabilitate road links and improve access to agricultural value chains, while also linking smaller towns and rural settlements.
BFT Online 9 June
Haas Petroleum has sold a 40% stake to Muscat-based Oman Trading International. The transaction, whose value was not disclosed, will help Haas expand in the region by opening more service stations and participating in capital-intensive open tender bulk import contracts. The proposed transaction is subject to approval by regulatory authorities.
Daily Nation 6 June
Pan-continental fintech company, MFS Africa, has partnered with Paga, a mobile money transfer provider, to connect its users and Nigerian bank account holders to senders from around the world. The deal allows customers with a Paga wallet to receive transfers users across Africa, or any money transfer operator connected to the MFS Hub. The partnership aims to enable Nigerians across the globe to send money back home and also pay directly for utility bills, goods and services in Nigeria.
The Guardian Nigeria 7 June
The bank of China has launched a new branch in Angola’s capital, Luanda. The presence of the institution will accelerate the internationalisation of the Angolan banking system and economy. The bank will serve Chinese enterprises in Angola while also supporting Angolan businesses.
AfricaNews.com 7 June