The Editorial Team |

Iran, Nigeria Have Right to Raise Oil Output, Algiers Host Says

LAGOS, Capital Markets in Africa: OPEC and other producers can reconcile talks aimed at stabilizing the oil market with the prerogative of Iran, Nigeria and Libya to boost output, according to Algeria’s energy minister. “Iran has the right to increase production to the pre-sanctions level,” Algeria’s Noureddine Bouterfa said in an interview in Moscow Friday, after meeting his Russian counterpart Alexander Novak. “It is also the right of Libya, Nigeria to increase.” Bouterfa was shuttling between Moscow…

Emerging Assets Trim Weekly Rally After ECB Damps Stimulus Hopes

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LAGOS, Capital Markets in Africa: Emerging-market stocks and currencies trimmed the biggest weekly gain in a month after the European Central Bank refrained from pledging more stimulus and North Korea conducted its biggest-ever nuclear test. The won dropped and the Kospi index suffered its worst retreat for two months after North Korea’s fifth nuclear test. Malaysia’s ringgit and Russia’s ruble fell and stocks in Brazil were poised to open lower as Brent crude slid the most in more than a…

Nigeria Offers Three-Year Tax Holiday to Mining Investors

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LAGOS, Capital Markets in Africa: Nigeria offered a three-year tax holiday to mining investors as the West African nation seeks to raise as much as $7 billion to develop its minerals and steel industries. The tax incentive will start “from the date the investor commences mining operations in the country,” Mines and Steel Development Minister Kayode Fayemi told prospective investors at a meeting in Perth, Australia, according to a statement posted on the ministry’s website. He confirmed deposits…

Fund Raising | ACA closes US$570mn private equity fund

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LAGOS, Capital Markets in Africa: African Capital Alliance (ACA) today announced that it has raised a total of approximately US$570mn of committed capital for its fourth private equity fund, Capital Alliance Private Equity IV Limited (“CAPE IV” or the “Fund”). As a result, ACA has become the first West Africa-focused fund manager to raise over US$1bn in aggregate capital commitments, since its formation in 1997. Over its nineteen-year history, ACA has built a strong and…

Investment | Actis invests in leading Maghreb Pharmaceutical business Medis

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TUNISA, Capital Markets in Africa: Actis, a leading growth markets investor, today announced a significant investment in Medis Group (Medis), a prominent branded generic pharmaceuticals business in Tunisia and Algeria. Actis has acquired a meaningful stake in the business from Africinvest, one of the key PanAfrican Mid-cap PE players, and from the founding Boujbel family. Actis will also inject further funds into the business to finance a buy-and-build strategy to create a leading pan- African…

Islamic Finance Industry Leaders and Key Regulators from Africa, the Middle East and Internationally gather to Advance Trade & Investment, Access Liquidity Pools and Boost Financial Inclusion Across Africa

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Africa is home to over a quarter of the global Muslim population and has an increasingly strong and viable market for Islamic financial services and products. While the industry is still in a key development phase, tremendous progress has already been achieved on the continent, with significant potential for exciting growth across key markets especially in East Africa. Hosted by The Central Bank of Djibouti and held under the Patronage of the President of Republic…

Investment | DOB Equity invests in Kenyan tech-enabled food wholesaler

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NAIROBI, Capital Markets in Africa: DOB Equity, a leading Dutch family office, announced that it had taken a minority stake in Twiga Foods, the Kenyan wholesaler, to expand its reach in the fast growing African micro-vendor food market. DOB Equity says Twiga Foods’ integrated and tech-enabled business model reduces costs and increases convenience for vendors in Nairobi by allowing them to buy fruit and vegetables through their mobile phone and delivering supplies directly to retailers’ stalls….

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