Equity

DRC
$25m missing from coffers of copyright society

A report by the Inspectorate General of Finance has revealed the details of an opaque scheme involving funds intended for artists. Only $35,882 actually reached the intended recipients, while the rest of the money disappeared through cash withdrawals and questionable transfers.

Kenya
Snubbed by business heads, Rigathi Gachagua joins forces with the rest of the opposition

The former deputy president's aggressive style has deterred business leaders in the Central region, who want to preserve their commercial empires. Some fear reprisals from the head of state, or prefer to remain loyal to his predecessor, Uhuru Kenyatta.

Cameroon
French Development Agency loan to Sodecoton paused

The AFD is considering cancelling the €30m loan, which has not been paid out, that it granted to the national cotton producer in 2023. Originally delayed by disputes between shareholders, the issue is now being undermined by several government operations, which are causing concern in Paris.

Kenya
Sidian Bank capitalises on closeness to Ruto to extend regional influence

Boosted by an increase in public orders in Nairobi, the bank is planning to open branches in East Africa in an expansion that the Kenyan president is following very closely.

Egypt, Sudan
Businessman Mohamed El Garhy fronts Egypt's bid for Sudanese gold

Backed by the General Intelligence Service, the El Garhy Steel Group owner has teamed up with Sudanese partners to invest in gold and iron mines, as Cairo moves to bolster central bank reserves.

Morocco
New business council with UK reels in prominent stakeholders

Moroccan and British entrepreneurs are facilitating trade thanks to the creation of a council that already includes several leading business figures from both countries.

Algeria
Cevital-owned appliances giant Brandt struggles to get restarted

The historic household appliances group, controlled by the Algerian giant since 2014, is struggling to return to profit, despite a recent, and modest, improvement.

Rwanda
Backed by Kigali, Rwandan diaspora engagement in US takes shape

The United States Rwandan Community Abroad is taking action to bring together Rwandan expats in the US.

Kenya
Ruto keen to keep Telkom Kenya albatross aloft

In the midst of a subscriber haemorrhage and laden with debt, the former state-owned operator is on its last legs, despite the arrival of a new shareholder two years ago. Yet letting it fail outright would be politically costly and potentially damaging to national infrastructure interests.

The New Guard
Senegal, Kenya, Congo

Every Wednesday, Africa Intelligence spotlights a new generation of movers and shakers in business and politics.

SenegalSouleymane Gassama, aka Elgas, a multi-talented writer and researcher

KenyaCheptum Toroitich, lawyer pushing for greater democracy

CongoLouis-Raymond Gomes, modernising and diversifying the business scene