East Africa | - Part 13

Abraaj Group says plans to buy Kenyan coffee chain Java House

NAIROBI (Capital Markets in Africa) – The Abraaj Group (Abraaj or the Group), a leading investor operating in growth markets, announced today it has entered into a definitive agreement to purchase, through its Funds, 100% of Java House Group (Java House or the Company), East Africa’s leading coffee-led casual dining chain, from private equity firm Emerging Capital Partners (ECP), and the Company’s founder and chairman, Kevin Ashley. Java House Group was established in Nairobi in…

Kibo Capital invests in Blowplast Limited

Posted on by The Editorial Team

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

Posted on by The Editorial Team

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…

Kenyan President Pledges Investment Plan in Hunt for Votes

Posted on by The Editorial Team

NAIROBI (Capital Markets in Africa) – Kenya’s ruling Jubilee Party pledged to transform East Africa’s largest economy into a middle-income nation by 2022 by boosting investment in public infrastructure and technology and offering increased financing for small businesses. President Uhuru Kenyatta’s party also said it will increase the number of poor and elderly on free health care and offer free education to some primary and secondary public school students. The number of elderly receiving state grants would…

Dangote Cement May Shut Ethiopian Plant Over Mining Disputes

Posted on by The Editorial Team

ADDIS ABABA (Capital Markets in Africa) – Dangote Cement Plc, controlled by Africa’s richest man, Aliko Dangote, said it may shut its operations in Ethiopia if authorities in the central state of Oromia don’t reverse an order to cement makers to hand over control of some parts of their businesses to local young people. Oromia state’s East Shewa Zone administration wants the Nigerian company to outsource its pumice, sand and clay mines to youth groups or…

Protest-Hit Ethiopia Region Plans Oil Company to Calm Unrest

Posted on by The Editorial Team

ADDIS ABABA (Capital Markets in Africa) – A central Ethiopian region that’s seen almost two years of sporadic anti-government protests is planning a new private oil company and is in talks to import Middle Eastern crude, part of an economic initiative authorities say will address some of the roots of the unrest. Oromia Petroleum Share Co., the planned venture, will import the oil via Djibouti, process it at a new large-scale refinery and distribute it…

Tanzania Says Barrick Agrees to Pay Money Owed to Government

Posted on by The Editorial Team

DAR ES SALAAM (Capital Markets in Africa) – Tanzania’s presidency said Barrick Gold Corp. is willing to reimburse money that’s owed to the government, after President John Magufuli accused subsidiary Acacia Mining Plc of failing to pay billions of dollars of taxes. Acacia surged as much as 11 percent. Barrick Executive Chairman John Thornton met Magufuli for talks in the commercial capital, Dar es Salaam, on Wednesday, the presidency said in an emailed statement. Barrick confirmed the meeting…

« 1 … 11 12 13 14 15 … 20 »