In Africa: Albraaj Group to fully acquire Kenyan Coffee Chain 3rd July, 2017
Sahel G5 teams up with Macron to fight Islamic militants
The Sahel G5, a coalition of Mali, Mauritania, Burkina Faso, Niger and Chad, hasteamed up with French forces in a bid to further repel Islamic militants in the Sahel region. The new multi-national force, whose headquarters is in the northern Mali town of Sevare, will face the first task of finding and ‘eliminating’ the kidnappers of French citizen Sophie Pétronin.
World Bank dents Kenya’s hope of continued regional dominance with $345 million Tanzania loan
Any hopes Kenya might have of being the undisputed trade hub for landlocked East African countries has been dealt a serious blow by the World Bank’s $345 million loan approved for the expansion of a port in Tanzania’s commercial capital Dar es Salaam. Tanzania hopes to use this port as a direct competitor with the Mombasa port in Kenya as preferred destination points for vessels coming into the region.
Abraaj Group to fully acquire Kenyan coffee chain business
It seems coffee is good business in Kenya as Abraaj Group is planning an 100% acquisition of coffee chain Java House from its present owners. The deal comes just 5 years after founder of Java House, Kevin Ashley, sold 90% of his stake in the company to Emerging Capital Partners (ECP). The fee involved, just as in this case, was undisclosed.
American dollars enough to extend Sudanese cease-fire by 6 months
The lure of the possible influx of dollars was enough to convince President of war-ravaged Sudan to extend a unilateral ceasefire with rebels until the end of October. The dollars are expected to flow in from the anticipated lift a 20-year-old trade embargo against Sudan by the United States. The U.S is however, stalling on lifting the ban as it wants an improved human rights record and quick resolution of political and military conflicts.
Farmers are drenched in fear as floods hamper cocoa harvest
The anxiety among Kenyan farmers is almost tangible as continued floods, especially in the cocoa-growing areas are slowing the harvesting and sales of beans. The floods have not only hit the farmlands, but also made roads inaccessible, thereby cutting off any potential buyers. If left unchecked, the cocoa may suffer from the black pod disease
France and Germany mumble support for Italy over illegal African migrants
France and Germany have said that they will help Italy in handling the influx of migrants arriving by boat from Africa. Both countries however have no plans to accept these migrants onto their shores as they made no direct reference to Rome’s appeal for European Union nations to ease the pressure by allowing rescue boats carrying migrants to dock in their ports
Ex-KPMG boss quits before resuming new post
A former KPMG boss, Moses Kgosana, has quit his new role as Chairman of Alexander Forbes Group Holdings Limited before even resuming as allegations of financial wrongdoing during his stint as KPMG boss in South Africa continues to plague him. Kgosana quit as he “felt that the demands on his time in the role of chairman of the company whilst attending to these allegations, will interfere with his deliverable expectations.”