Author: Kimani Chege

Societe Bic, the global owner of the Bic brand has announced that it has signed a definitive agreement to acquire 100% of Lucky Stationery Nigeria Ltd (LSNL). The transaction has been reviewed and approved by the Nigerian Federal Competition and Consumer Protection Commission (“FCCPC”). The closing is expected end of 2019. LSNL is Nigeria’s number one Writing Instruments manufacturer, with approximately 5 million euros in Net Sales and approximately 30% market share in volume. Its main Writing Instrument manufacturing facility is currently located in Ilupeju-Lagos and will be relocated to a new modern facility north of Lagos in Shagamu. BIC…

African Infrastructure Investment Managers (AIIM), one of Africa’s largest and most experienced infrastructure-focused private equity fund managers, has announced the final close of its flagship pan-African infrastructure fund, AIIF3, which raised US$320mn from a diverse investor base across Africa, Europe and Asia. Since inception, AIIM has raised cumulative commitments of US$2.2bn over 7 funds and executed more than 56 transactions in target pan-African markets. With a focus on diversification and predictable cash flows, AIIF3 targets significant influence investments across the power, transport and midstream energy sectors in Sub-Saharan Africa – areas with the biggest disconnect between demand for critical infrastructure…

Jervois has completed its merger with eCobalt after receiving eCobalt’s nod from its Canadian shareholders and Supreme Court of British Columbia approvals. According to a joint announcement, following the successful completion of the Arrangement, all conditions precedent have been met and settlement of the A$16.5 million equity placement in Jervois has occurred. The expanded company has projects in Australia, East Africa, and the US, including eCobalt’s Idaho Cobalt project, which boasts the highest combination of cobalt grade and scale in North America. The acquisition of M2 Cobalt gave Jervois an entry into Uganda, complementing its East African strategy looking at opportunities around…

Business coach and trainer, TriciaBiz has launched an online business school, Business Lab Africa with the aim of helping entrepreneurs in Africa succeed in business. The school, which offers a new approach to learning, is subscription-based and is geared towards providing quality content at a price MSMEs can afford. According to its management, not only is BLA easily accessible via mobile or web, it also offers knowledge that is practical, qualitative and locally relevant. Courses on the BLA curriculum, are taught by business experts from around the world covering a wide range of business subject areas including Marketing, Sales, Global Expansion, Business…

MEST Africa, one of the pioneer incubation centers in Africa has seen a change of guard. Out goes Aaron Fu and in comes Ashwin Ravichandran. The incubation house has announced the appointment of Ashwin Ravichandran as its new Managing Director, as the Pan-African entrepreneurial training program, seed fund and incubator continues to grow and strengthen its portfolio of startups and expand its reach and impact across the continent. Aaron Fu who has been influential in the management of the institution for two years announced through his social media accounts that he was seeking new challenges and has joined South African…

PepsiCo, has announced that it has entered into an agreement to acquire all the outstanding shares of South African based company, Pioneer Foods Group Ltd. for R110.00 per share in cash (approximately US $1.7 billion). This represents a 56% premium to the 30-day volume-weighted average price prior to the cautionary announcement on July 15, 2019. Pioneer Foods has a robust, locally relevant product portfolio that complements PepsiCo’s current lineup, with strong positions in cereals, juices, and other African nutritional food staples, including well-known, scaled brands like Weet-Bix, Liqui-Fruit, Ceres, Sasko, Safari, Spekko, and White Star. Pioneer Foods is one of…

Stanbic Bank Kenya and Industrial Commercial Bank of China (ICBC) have partnered with Chinese Trade Agent Zhejiang International Trading Supply Chain Co. Ltd (Guomao) to launch the Africa China Agent Proposition (ACAP) initiative. (https://navalpost.com/) The initiative which has been launched in different parts of Africa aims to assist African importers source and validate quality goods, safely and efficiently, from the most competitive suppliers in China. The ACAP offering is expected to revolutionize African importers’ view of China’s supplier universe. It will also ease the cash flow of African importers by providing access to financing while empowering importers with sight and…

French Television Canal+ has acquired of Nigerian start-up production studio ROK from Africa on-demand Nollywood entity Iroku TV. This is seen as a move by the French Pay TV to venture into African local production that ROK is known for. Nigerian film and cinema industry is known globally for its intriguing local content and it only thought to be second in terms of the number of production to India’s Bollywood. With nearly $4 billion in revenue and almost 2,000 productions every year, the industry has become a significant revenue earner for Nigeria. The acquisition positions the French giant centrally to…

Rwanda’s mobile industry has joined forces with the GSMA to drive mobile internet adoption and increase digital literacy in the country. Local operators Airtel and MTN will commence a program of activity around digital inclusion as part of the GSMA’s We Care initiative in Rwanda. We Care is launched in collaboration with Rwanda’s Ministry of ICT and Innovation and the Rwanda Utilities Regulatory Authority (RURA), supporting government efforts to boost ICT penetration and digital services across the country. “I am glad to see the mobile operators, Airtel and MTN, coming together to work towards a common goal that will be…

Kenya has been a host of many disruptive technologies in recent years. In fact, disruptive technologies have created thousands of jobs and raking in millions of shillings in the country as well as around the world. A few years ago, there were no digital taxis, no AirBnBand definitely no MYDAWA. MYDAWA is an e-health platform that enables consumers to conveniently purchase authentic medicines and wellness products through the app/web portal. The country has come a long way in medicine dispensing from the over the counter to a more progressive digital acquisition of quality medicine guided by strict and solid prescription.…