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IFC lends Mauritius firm Sh2.7bn for Orbit factory acquisition


IFC lends Mauritius firm Sh2.7bn for Orbit factory acquisition
Thursday May 06 2021
Summary
The deal, valued at Sh4.3 billion, was to be completed last year but had delayed due to economic uncertainty brought by the Covid-19 pandemic.
Grit has now approached IFC to provide part of the funds needed to conclude the transaction.
The International Finance Corporation (IFC) is set to lend $25 million (Sh2.7 billion) to Grit Real Estate Income Group to fund its purchase of manufacturing facilities from consumer goods manufacturer Orbit Products Africa.
The Mauritius-based property firm announced in October 2019 that it had signed an agreement with the contract manufacturer for global firms such as Reckitt Benckiser, Colgate-Palmolive and Unilever to buy its 20 acres of land in Mlolongo, Machakos which houses its factory. ....

Nairobi Area , South Africa , Rift Valley , Reckitt Benckiser , International Finance Corporation , Africa Imperial Health Sciences Logistics , Grit Real Estate Income Group , Orbit Products , Naivasha Buffalo Mall , Mombasa Road , Imperial Health Sciences , நைரோபி பரப்பளவு , பிளவு பள்ளத்தாக்கு , ரெகிட் பென்கிசர் , சர்வதேச நிதி நிறுவனம் , கட்டம் ரியல் எஸ்டேட் வருமானம் குழு , ஆர்‌பிட் ப்ராடக்ட்ஸ் , மாஂபாஸ சாலை , ஏகாதிபத்தியம் ஆரோக்கியம் அறிவியல் ,

The ANC has broken its own black empowerment toolkit -...


President Cyril Ramaphosa and key officials in his administration appear to realise this.
Spooked by the ghosts in government’s BBBEE machine, the current leadership has in effect eschewed its empowerment mandate in some of the procurement plans for distributing Covid-19 vaccines.
This is a sad development.
Fears for the most undesirable elements in the BBBEE dispensation are informing real-time decisions that exclude legitimate black-owned businesses from much-needed opportunities.
A week ago, this journalist raised the matter on Twitter. It was a foolish decision. The matter elicited a fierce response, including spurious accusations of racism.
If there is any need for a ....

South Africa , Baragwanath Hospital , United Kingdom , South Africans , South African , Ray Mahlaka , David Mabuza , Kingsley Tloubatla , Dudu Myeni , Zweli Mkhize , David Lewis , Dondo Mogajane , Cyril Ramaphosa , Kganki Matabane , Ferial Haffajee , Industry Association , Mkhize Department , Biovac Institute , Imperial Health Sciences , African Health Products Regulatory Authority Sahpra , Gauteng Department Of Health Gdo , Supplier Development Partner , Progressive Business Forum , Department Of Health Do , Exchange Commission , Business Council ,

Sleeves rolled up for vaccine


31 January 2021 - 07:56 By HILARY JOFFE
Picture: DADO RUVIC/REUTERS
SA s private sector is gearing up to deploy its formidable health-care infrastructure in the rollout of the vaccination programme, with business working closely to support the government on vaccine distribution.
The large pharmaceutical warehousing and logistics providers are ready to put their extensive networks and IT systems at the disposal of the government, as are private hospital groups, pharmacies and medical practices as SA embarks on the programme, which will launch after the first doses land on Monday.
Mines have also offered their extensive health-care facilities, which could rapidly vaccinate up to 3-million people in mining communities across SA. ....

Aspen Stavros Nicolaou , African National Editors Forum Sanef , Hospital Association , Imperial Health Science , South African National Editors Forum , Business Times , Martin Kingston , ஆஸ்பென் ஸ்ட்யாவ்ரோஸ் நிக்கொழாோஉ , மருத்துவமனை சங்கம் , ஏகாதிபத்தியம் ஆரோக்கியம் அறிவியல் , வணிக முறை , மார்டின் கிஂக்ஸ்‌டந் ,