The Pan-African Economy in Brief: Wednesday, April 21, 2021
Remus abandons plan to buy Far Ltd's stake in Sangomar oil:
On Wednesday, Australian oil company Far Ltd announced that it had received a letter from investment fund Remus Horizons, indicating that it had abandoned its plan to acquire Far's share, in order to position itself on the oil of Sangomar, in Senegal. The main reason given was a lack of financing.
IT security company Lawtrust acquired for $17 million by Altron:
Lawtrust, the subsidiary of South African digital technology group Etion, has been acquired for 245 million rand ($17.1 million) by Altron, a South African IT integrator. The takeover, which is conditional on approval from the Competition Commission, should enable Altron, which is listed on the Johannesburg Stock Exchange, to strengthen its position in the security sector, which it sees as a growth area on the continent.
Senegal's objectives include regional integration, agricultural transformation, infrastructure and industrial development:
Supported by solid economic performance between 2014 and 2019, Senegal has renewed confidence from the African Development Bank. For the period 2021-2025, the pan-African development institution will support the country in strengthening its infrastructure and regional integration as well as the resilience of its economy through agricultural transformation and industrial development.
Three dead in new attack on military camp:
In Côte d'Ivoire, an army position in northern Abidjan was attacked on Tuesday night by unidentified gunmen. According to the army's Chief of Staff, General Lassina Doumbia, the operation resulted in the death of three men on the side of the attackers, while another was taken prisoner, and an Ivorian soldier was injured.
Vatomina graphite mine enters commercial production:
Tirupati has launched several projects in India and Madagascar to increase its graphite production capacity. The opening of the Vatomina mine, while it already operates Sahamamy on the Big Island, brings the company closer to its goal of producing 30,000 tons of graphite per year by 2022.