Blog

The Pan-African Economy in Brief: Monday, February 22, 2021

Cameroon – Chad:
Cameroon-Chad Railway: AfDB grants a €2.4 million loan for the feasibility study:
Cameroon and Chad, already connected by road, are working to establish a railway between the two countries. In addition to opening up the 3 major regions of the Far North of Cameroon, it is expected to significantly reduce the transit of goods from the port of Douala to Chad.

Nigeria:
Heineken could further strengthen its position in the capital of Nigerian Breweries:
The brewery group Heineken based in the Netherlands could further strengthen its position in the shareholding of Nigerian Breweries. In a note sent out on Friday, February 19, the second largest agribusiness company listed in Nigeria invites its investors to vote for the option to convert their final dividend into shares by April 10, 2021 at the latest.

Mozambique:
Syrah Resources wants to resume graphite production at Balama within three months:
Syrah Resources halted graphite production in March 2020 and then laid off 65% of its staff at the Balama mine in Mozambique. These decisions were related to the Covid-19 pandemic restrictions, but current market conditions are causing the company to reconsider its position.


Kenya:
The American Dynamo Ventures and Plug Play Ventures announced in the capital of the Kenyan Amitruck:
The Kenyan logistics platform Amitruck will secure an undisclosed amount of pre-seed investment in a round led by two American investment companies: Dynamo Ventures and Plug and Play Ventures. The company, which connects machine owners and businesses, "is facing growing demand and plans to expand its platform," said Mark Mwangi, CEO of the company.


Angola:
Angola repeals the law that prohibits oil activities in protected natural reserves:
Laegislators in Angola have just revoked the law prohibiting oil and natural gas exploration in protected nature reserves, including the Kassanje Basin and the Okavango River Basin, rich in endangered species. A measure proposed upstream by President Lourenço and which aims at increasing the exploitable surfaces to boost the national production of hydrocarbons.