This is an exclusive new report designed to give you an overview about Africa countries tackling Economic, Political, Stock Market and Company transactions issue.
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- An independent scientific group from both countries, Egypt and Ethiopia as well as Sudan will start meeting on Monday in Khartoum hoping to find a consensual way out of the dispute over filling and operating Grand Ethiopian Renaissance Dam (GERD).
- Meghan Markle made a special surprise appearance as Prince Harry continued his royal tour of Africa visiting a school in Malawi. During his visit, Harry saw the impact of U.K. investments to ensure that girls obtain at least 12 years of quality education.
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Major Companies Transactions
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- Next week CIC Insurance Group will pay back investors of its five-year 5 BN KES (48.1 MM USD) bond, their principal dues, making the underwriter the latest corporate bond issuer to retire its debt without going back to the capital markets for a rollover.
- Barclays Bank of Kenya has signed an agreement with the real estate arm of Centum Investment Company to finance buyers of properties being developed in Kilifi and Nairobi at discount interest rates. The loans will be priced between 11.5% and 11.9%.
- The planned merger between telecommunication firms Airtel and Telkom Kenya is hanging in the balance as an ongoing investigation by the anti-corruption regulator beyond the completion deadline agreed between the two companies.
- Faulu Microfinance Bank has announced a 113 MM KES (1 BN USD) branch expansion plan opening eight new branches in Ugunja, Kapenguria, Homabay, Kericho, Busia, Voi, Bondo and Limuru.
- TechnoServe Nigeria, a non-governmental organization, has trained 300 unemployed youths in Abuja and Enugu State as part of its plan to build competitive businesses, as well as tackling youths' unemployment in developing countries funded by Citi Foundation.
- The International Monetary Fund (IMF) stated that Zimbabwe key to ending economic volatility for balanced and sustainable growth, is by maintaining a stable exchange rate, containing fiscal spending and ensuring non-inflationary financing of public programs.
- Huaxin Cement, a leading Chinese company has bought Athi River Mining (ARM) Cement's Tanzania subsidiary, Maweni Limestone Ltd, for about 11.9 BN KES (116 MM USD).
- The Fair Competition Commission (FCC) plans a meeting on Thursday over the proposed merger between two Kenya commercial banks; Commercial Bank of Africa (CBK) and NIC Group Plc (NIC) both of which have subsidiaries in Tanzania.
- International Cement Group (ICG) has called off its proposed 104.4 MM USD purchase of African cement producer Schwenk Namibia. The deal, which was first announced in March 2019, was terminated on September 27, 2019.
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