The Editorial Team |

Investment | Nigerian Ntel Pursues US$1 Billion Investment for Mobile-Broadband Growth

LAGOS, Nigeria, Capital Markets in Africa — Nigerian Internet provider Ntel is looking more than US$1 billion to invest in 4G mobile broadband by 2020, to take advantage of a rising number of smartphone users in the country. “We are speaking to investors and to banks who are interested in a growth story for Africa,” Chief Executive Officer Kamar Abass, 51, said in an interview on March 31. “We are seeing the very beginnings of a…

Investment | Ford Invests US$167 Million in South Africa, Create 1200 jobs

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Johannesburg, Ghana, Capital Markets in Africa — Ford Motor Company will invest 2.5 billion rand (US$167 million) in the U.S. automaker’s South African operations to start production of the Everest sport utility vehicle and create about 1,200 jobs. The company’s plant in Pretoria, the capital, will have capacity to build 10,000 Everests a year and will be the fourth production hub for the SUV after factories in Thailand, India and China, Dearlove, Michigan-based Ford said in…

Investment | Orange invests 75 million-euros in Africa Internet Group

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PARIS, France, Capital Markets in Africa — Orange announces the acquisition of a 75 million-euro equity interest in Africa Internet Group, joining AXA, Goldman Sachs and longstanding investors MTN Group, Millicom and Rocket Internet. Through this investment, which will be accompanied by a series of strategic partnerships between the subsidiaries of the two groups, Orange will help Jumia and other websites run by Africa Internet Group to accelerate their growth and seize development opportunities in…

Private Equity | Mediterrania Capital Partners invests in CIEPTAL CARS, Algeria

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Algiers, Algeria, Capital Markets in Africa: Mediterrania Capital Partners, the regional private equity firm focusing on growth investments for SMEs in North Africa and Sub-Saharan countries, announces the acquisition of a 43% stake in Cieptal Cars through its second fund Mediterrania Capital II (“MC II”). Founded in 2006, Cieptal Cars is a privately-owned company that specializes in the long-term car rental business. The company is the current market leader in Algeria. It owns a large, young fleet of 761 cars and…

Bank of Uganda cuts key rate amidst improved inflation outlook in April

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KAMPALA, Uganda, Capital Markets in Africa — Bank of Uganda (BOU) reduces its benchmark lending rate on Monday, because of the fact that demand pressures on inflation are more subdued than at the time of the last and indications are that domestic demand is likely to remain constrained. The central bank Governor Emmanuel Tumusiime-Mutebile informed a news conference the bank had dropped the rate to 16 percent from 17 percent previously, adding that real growth…

INTO AFRICA April Edition: Africa’s Unshaken Fundamentals

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LAGOS, Nigeria, Capital Markets in Africa — Over the past few years, discussion about Africa’s development, prosperity, growth and potential was becoming more optimistic, so Africa seems to have conquered the myth of negative perception. The gained optimism has led to many buzzwords such as Africa rising; Africa the last frontier, Lion on the move etc. As a result, Africa is not hard to sell to investors and many investment pitches highlight the common reason…

Finance | OPIC Says Renewable Energy Drives Its Expanding Africa Portfolio

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LAGOS, Nigeria, Capital Markets in Africa — Renewable energy projects and small off-grid plants will drive growth of its African investment portfolio, according to MD for Africa Peter Ballinger of Overseas Private Investment Corporation (OPIC), USA. OPIC experiencing fastest growth in Africa; region received as much as $1.6b in energy, $1.2b non-energy investment in 2015. “We are seeing an increase in smaller renewable projects both grid connected and non-grid connected and we are seeing a…

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