Inspiring Africa's Sustainable Business Growth
GERMANY – Thyssenkrupp has announced that it has shortlisted two private equity consortia in the sale of its 16 billion-euro ($17 billion) elevator unit, dealing a blow to Finland’s Kone, which withdrew from the closely watched deal. The transaction which is potentially Europe’s biggest private-equity deal in 13 years, is now in its last stages and could come to a…
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SOUTH AFRICA – South Africa and Germany will invest US$26.8 million (R400 million) apiece for the expansion of the MeerKAT radio telescope in the Karoo. Spearheaded by the Department of Science and Technology and operated by the South African Radio Astronomy Observatory (SARAO), MeerKAT is a precursor to the larger international Square Kilometre Array (SKA). The MeerKAT is currently made…
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GERMANY – BASF, a global leader in Chemicals, Materials, Industrial Solutions, Surface Technologies, Nutrition & Care and Agricultural Solutions has unveiled a new battery materials production site in Schwarzheide, Germany. The German chemical company which is the second largest chemical producer in the world said that the new plant was part of its multi-step investment plan to support the European…
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SWEDEN – Atlas Copco, a Swedish industrial company, and German-listed Isra Vision AG have signed a Business Combination Agreement (BCA) to create a new division for Isra Vision within the Business Area Industrial Technique. As part of the agreement, Atlas Copco will launch a voluntary public takeover offer at EUR 50 per share in cash for all outstanding shares of…
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UNITED STATES – Volkswagen AG’s commercial truck unit, Traton, has offered $35 a share, or $2.9 billion, for the shares of U.S. truck maker Navistar International that it does not already own. Traton while giving the news on its offer to Navistar said its offer was subject to Navistar and Traton reaching a merger agreement. Volkswagen has made its interest…
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GERMANY – Finland’s Kone, one of the world’s largest elevator manufacturers, has offered about 17 billion euros ($18.9 billion) for Thyssenkrupp’s elevator unit, making it the the highest bid so far. Kone, which has long championed the advantages of a tie-up between the world’s third- and fourth-largest elevator groups, said it had made a non-binding bid, a day after a…
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Ghana – Ghana and Germany have launched a 400 KW hybrid waste-to-energy (w2e) power plant to treat urban solid waste in the country. The plant which will be in Atwima Nwabiagya, Ashanti Region is expected to help Ghana help Ghana deal with the menace of solid waste by treating and generating power from the treated waste. Additionally, the project to…
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GHANA – The German government has underlined its readiness to stand with Ghana every step of the way to grow its economy and end its over-reliance on development assistance. To improve the performance of various governmental institutions and provide the necessary financial support, the German Government also revealed that it is providing more than €100 million to the District Assemblies…
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NIGERIA – GreenTec Capital, Germany’s premier investor in African startups that show both promise and the ability to make an environmental, social, and economic impact has invested in a Nigeria-based transportation and logistics app, Drivers NG. Drivers NG provides on-demand drivers and mobility solutions to companies and private individuals, solving a longstanding problem of finding a trained, reliable, and trusted…
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GERMANY – Adidas has announced plans to close the high-tech “robot” factories in Germany and the United States it launched to bring production closer to customers. The sportwear manufacturer said in November that deploying some of the technology in these factories in Asia would be “more economic and flexible”. The Adidas factories were part of a drive to meet demand…
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