To receive this brief in your email every Monday, please subscribe here.
Week commencing 21 January
US technology solutions company Arise Virtual Solutions has received approval from the Central Bank of Mozambique to acquire a 29.5% stake in Moza Banco, a locally owned bank, through a subscription of new shares. Arise has an investment in another local bank, BTM, and it intends to merge the two.
Africa Global Funds 14 January
Indian telecommunications company Bharti Airtel has agreed to give part of its stake in Airtel Tanzania to the government. This raises the East African nation’s holding in the mobile phone operator to 49% from 40%. Bharti Airtel retains a 51% stake in the company.
Reuters 11 January
African Infrastructure Investment Managers (AIIM) has acquired a minority stake in BBOXX’s operations in East Africa as part of a $31m investment plan. BBOXX is a next-generation utility platform developing solutions to provide affordable, clean energy to off-grid communities in emerging markets.
Africa Global Funds 16 January
The Chinese Export-Import Bank (Exim Bank) will provide a facilitated loan of $1.2bn for the implementation of Egypt’s first electric train. It will target the new cities of El Salam, El Obour, El Shorouk, Al Mostakbal, Al Roubiki and the country’s proposed new administrative capital. It Includes 11 stations and serves 350,000 people.
Daily News Egypt 18 January
US-based global fast-food franchise Burger King is set to open a new branch in Lavington, Nairobi. The eatery will be located at the new Shell fuel station, joining food chains KFC and Java that are tapping into traffic from the upmarket neighbourhood. This will be the franchise’s fifth store in the country.
Business Daily 17 January