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Week commencing 19 February 2018
Norwegian based private equity fund Ascent Rift Valley Fund is set to acquire Auto Springs East Africa, a manufacturer of automobile spare parts. The deal, in partnership with global financier SFC Finance, will offer finance for product expansion and factory improvements. In return, Auto Springs will give Ascent a foothold in the local market.
Standard Media 14 February
Luxembourg-based private equity firm Fonds Européen de Financement Solidaire (Fefisol) has invested $986,680 in Nairobi-based credit lender Musoni Microfinance, which targets small-scale farmers and the informal sector. The funds will go towards developing financial products that stimulate food production and agri-business. The investment makes Fefisol the sixth shareholder of the micro financier from the European Solidarity Financing Fund for Africa.
Business Daily Africa 15 February
Gweru-based ferrochrome producer Zimbabwe Alloys (ZimAlloys) has begun exploiting alluvial concentrates along the Great Dyke as it seeks to widen its revenue base. The firm entered into a partnership with two Chinese Companies – Decolux and San He Mining – to exploit the concentrates after India’s Balasore Alloys Group committed to injecting $100m to resuscitate operations at the ferrochrome producer. Plans are already under way in the North Dyke area for the establishment of six plants for the production of alluvial concentrates, each set to produce a minimum of 5,000 tonnes per month.
The Herald Zimbabwe 16 February
French renewable power plants operator Voltalia has obtained permits for two hydropower plants of 9.8MW and 7.2MW. The permits follow technical approvals from Morocco’s National Office of Electricity and Drinking Water regarding the connection of the plants to the national grid. The electricity produced will be sold under long-term private power purchase agreements.
Morocco World News 15 February
The Arab African International Bank will finance the largest solar power project in Egypt and the Middle East, with a target capacity of 1.8GW. The bank is keen on strengthening this competitive advantage by supporting investments and providing the necessary funding to raise the productive capacity of the energy sector in Egypt.
Daily News Egypt 10 February