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Nigeria | Dangote Cement Plc. Q1:2016 Earnings Update

LAGOS, Nigeria, Capital Markets in Africa — Dangote Cement Plc (“DANGCEM” or “the Group”) released its Q1:2016 result on Monday 25th April. Revenue growth was strong and broadly in-line with estimates at 22.2% Y-o-Y and 11.3% Q-o-Q to N140.5bn while PBT declined 22.3%Y-o-Y (to N54.5bn) against the backdrop of high base impact of FX Gains recorded in Q1:2015 on Naira devaluation, as well as weaker operating margins as a result of price competition in key…

Investment in Africa — Will the “Africa Rising” Story continue?

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LAGOS, Nigeria, Capital Markets in Africa — Low commodity prices, the worst drought in Southern Africa since 1982, on-going social unrest, the terrorism threat in East and West Africa – the list of doom and gloom scenarios for many African countries in 2016 is a long one. But what about positive stories around major urban development projects; M&A deal-making in Africa reaching new heights*; improved anti-corruption legislation and enforcement; or Ethiopia’s emergence as a major…

Nigeria | Dangote Sugar Refinery Plc Q1:2016 Earnings Update

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LAGOS, Nigeria, Capital Markets in Africa — Dangote Sugar Refinery Plc (“DANGSUGAR” or “the Company” or “the Group”) published its Q1: 2016 results last week with the result showing an impressive performance for the period. Revenue for the Group was up 44.8% Y-o-Y to N32.6bn vs. N22.5bn in Q1:2015 on the back of increased sales volume and price increase which lifted the overall revenue for the Group. Cost restraint measures noticed across major operating cost…

Private Equity | 8 Miles investment in Verde Beef Processing Ethiopia

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Addis Ababa, Ethiopia, Capital Markets in Africa: 8 Miles LLP, the pan-African Private Equity firm announced an investment in Verde Beef Processing PLC, an Ethiopian agribusiness that specialises in producing premium beef in Adami Tulu, Oromia in Ethiopia. The investment of new money will give 8 Miles a significant minority stake alongside the management team and founder investors. The financial details of the transaction have not been disclosed. Ethiopia has the sixth largest cattle population…

Private Equity | Catalyst Principal Partners Invests in Orbit Chemical Industries, Kenya

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NAIROBI, Kenya, Capital Markets in Africa: East Africa focused private equity firm Catalyst Principal Partners has announced its investment in Orbit Chemical Industries Ltd. The investment enables Orbit Chemical’s ambitious expansion plans by increasing capacity of its existing lines, extending its products range into new synergistic categories, and regionalization of its manufacturing capability, thereby supporting the strong growth of existing as well as new customers across Eastern Africa and beyond. Orbit Chemical is amongst the…

Family Bank Plans Share Sale to Fund East African Expansion

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NAIROBI, Kenya, Capital Markets in Africa — Family Bank Limited, a closely held Kenyan lender, plans to raise 4 billion shillings ($40 million) in a share sale to existing investors by June that will be used to fund an East African expansion. The company wants to make a “cautious entry” into markets in the region over the next year, outgoing Managing Director Peter Munyiri told reporters in Nairobi on Friday, without identifying any countries. The lender, which has 1.7…

Botswana | Moody’s affirms Botswana’s A2 government bond rating; outlook stable

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Gaborone, Botswana, Capital Markets in Africa — Moody’s Investors Service (“Moody’s”) has today affirmed Botswana’s A2 long-term issuer and senior unsecured debt ratings. The outlook remains stable. Moody’s analyzed Botswana’s credit profile in the context of the commodity price shock and its impact on the country’s economic and fiscal strength. The affirmation reflects Moody’s view that despite pressure on some of the country’s credit metrics, the challenges that the current external environment poses for the…

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