The Editorial Team |

AfricInvest invests in International Community School, Ghana

ACCRA (Capital Markets in Africa) – AfricInvest, a leading pan-African mid-cap-focused Private Equity firm, is pleased to announce that its AfricInvest Private Equity Fund III has invested in International Community School Limited (ICS), a leading private K-12 school in Ghana. Through its investment, AfricInvest aims to support the growth of ICS by upgrading its facilities and funding its other expansion plans to re-enforce the success of the school in both its Kumasi and Accra locations….

Ethiopia Eyes Role in DP World-Managed Port in Somaliland

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ADDIS ABABA (Capital Markets in Africa) – Ethiopia is in talks to acquire shares in a joint venture involving DP World Ltd. that will manage a port in northern Somalia, a Somali official said, a move that could give the fast-growing yet landlocked Horn of Africa economy its first stake in foreign docks. Somaliland, a semi-autonomous territory that aspires to statehood, has agreed “in principle” to give Ethiopia a 19 percent share in the venture administering Berbera…

NTT Said to Mull Sale of African Business Worth $800 Million

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JOHANNESBURG (Capital Markets in Africa) – Nippon Telegraph & Telephone Corp. is considering the sale of African operations it acquired with the takeover of Dimension Data Holdings Ltd. and is open to approaches from interested buyers, according to three people familiar with the situation. The assets are valued by Japan’s former phone monopoly at about $800 million, said two of the people, who asked not to be identified as the matter hasn’t been made public….

Parallel Market Emerges in Nigeria’s Currency-Trading World

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LAGOS (Capital Markets in Africa) – A kind of parallel universe is taking shape in Nigeria’s foreign-exchange market. The African country’s traditional forwards market is facing competition from an upstart based on the new exchange-rate window policy makers opened six weeks ago. Bond investors and speculators are switching away from non-deliverable forwards that are linked to the main interbank exchange rate, which is tightly controlled by the central bank, and embracing the more liberal pricing…

With May Under Pressure, Who Could Be New Conservative Leader?

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LONDON (Capital Markets in Africa) – A shocking U.K. election result that’s thrown the Conservative Party into turmoil leaves Theresa May’s position looking precarious. If history is any indication, the Tories will waste little time in seeking a new leader. So who can lay claim to the Tory crown? Brexit talks are due to start in 10 days’ time, with the possibility of at least one new face on the other side of the negotiating…

Dangote $700 Million Deal to Meet Third of Nigeria’s Sugar Needs

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LAGOS (Capital Markets in Africa) – A Dangote Industries Ltd. subsidiary will invest $700 million in a central Nigerian project that seeks to produce almost a third of the sugar consumed in Africa’s most populous nation. Tunga Sugar project, in the central state of Nasarawa, will be made up of a 60,000-hectare (148,260-acre) plantation and two factories with combined capacity of 430,000 metric tons of refined white sugar, Dangote Group’s president, Aliko Dangote, said in a…

Comey Leaves Trump Under a Crippling `Cloud’ of Investigations

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WASHINGTON (Capital Markets in Africa) – Donald Trump’s White House had feared the worst from former FBI Director James Comey’s testimony – the revelation of what one close associate called a “salacious bomb” that would send the investigations off into entirely new, and entirely unpredictable, directions. It never came, as Comey mostly hewed to previously reported details. But calmly, carefully, Comey actually might have done something just as dangerous. Ex-FBI chief James Comey testifies to Congress. Here’s what…

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