The Editorial Team |

EXEO Capital’s Agri-Vie Fund exit from Fairfield Dairy South Africa

JOHANNESBURG (Capital Markets in Africa) – Agri-Vie Fund I, the Africa Food and Agribusiness Investment Fund managed by the pan-African private equity investment firm, EXEO Capital, has announced its exit from one of South Africa’s most respected value-added dairy companies, Fairfield Dairy, concluding a fruitful partnership which has vastly expanded the business over seven years. Kevin Lang, founder and major shareholder of Fairfield Dairy, says that during this time, Fairfield Dairy substantially strengthened its operations…

Kibo Capital invests in Blowplast Limited

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NAIROBI (Capital Markets in Africa) – Africa-focused private equity fund manager Kibo Capital Partners is backing Blowplast Ltd, a plastic packaging company based in Kenya. As part of the deal, Christoph Evard, who led the deal for Kibo, will take a seat on the company’s board. Financial terms of the deal were not disclosed. The capital will be used to fund Blowpast’s expansion plans for East Africa and beyond. The company, which was founded in…

Kenyan Growth Slows as Farming Shrinks for First Time Since 2009

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NAIROBI (Capital Markets in Africa) – Economic growth in Kenya slowed in the first quarter, crimped by the first contraction in agricultural output in eight years and a slowdown in bank lending. Gross domestic product in East Africa’s largest economy grew 4.7 percent from a year earlier in the three months through March, compared with 5.8 percent reported in the previous quarter, the Kenya National Bureau of Statistics said in a statement on its website. Kenya’s rain-fed…

Egypt Raises Fuel Prices as Government Pushes Painful Overhaul

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CAIRO (Capital Markets in Africa) – Egypt raised fuel prices by as much as 55 percent, as the government pushes ahead with reforms to cut the budget deficit and revive the economy that are also putting pressure on households. The price for a liter of 80 octane gasoline or diesel rose to 3.65 pounds (20 cents) from 2.35 pounds, the cabinet said in a statement on Thursday, while 92 octane fuel increased to 5 pounds…

President Trump Travel Ban Said to Start Thursday Evening U.S. Time

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LAGOS (Capital Markets in Africa) – The Trump administration will introduce new restrictions on travel to the U.S. by refugees and migrants from six countries as of 8 p.m. eastern time Thursday, according to a person familiar with the matter. The rollout of the measures, which follows a U.S. Supreme Court decision Monday allowing parts of an executive order to proceed, is being led by the State Department. The timing is aimed at giving embassies…

Ghana’s Economy Expands Most Since 2014 in First Quarter

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ACCRA (Capital Markets in Africa) – The economy of Ghana, West Africa’s biggest after Nigeria’s, expanded the most in almost three years in the first quarter, boosted by gains in the oil industry. Gross domestic product rose 6.6 percent in the three months through March from a year earlier, Anthony Amuzu, deputy government statistician for operations at the Ghana Statistical Service, told reporters Wednesday in the capital, Accra. That’s the fastest expansion since the third quarter…

South Africa Central Bank Says Ombudsman’s Actions Risk Economy

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JOHANNESBURG (Capital Markets in Africa) – South Africa’s central bank filed court papers to reverse an instruction by the anti-graft ombudsman that its mandate of protecting the value of currency be changed, saying the “reckless” proposal is harming the economy. Public Protector Busisiwe Mkhwebane in a report earlier this month instructed parliament to start a process to change the nation’s constitution to make the central bank focus on the “socioeconomic well-being of the citizens” rather than inflation….

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