Finance | - Part 167

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

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…

Infrastructure | Access Energy Developing a $200-Million Solar Plant in Nigeria

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Lagos, Nigeria, Capital Markets in Africa — Access Energy Group, a Dubai-based renewable energy company, is developing a 100-megawatt solar project in northern Nigeria. The plant will be in the Kaduna state, north of the capital of Abuja. It is expected to cost around $200 million and be built in two phases of 50 megawatts, Reda El Chaar, the company’s managing director, said in an interview in London. The project is fully licensed and Access Energy…

Private Equity | Abraaj Plans $400 Million African Health-Care Pool

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LAGOS, Nigeria, Capital Markets in Africa — Emerging markets investor The Abraaj Group is trying to raise $400 million for a fund to invest in African health-care businesses, according to documents from an investor. Abraaj Growth Markets Health Fund Africa will invest alongside the Abraaj Growth Markets Health Fund, according to a report from the African Development Bank. The Dubai-based firm is trying to gather $1 billion for the latter and has closed on $500 million so far,…

South Africa Pension Funds Neglecting Private Equity Investments

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Johannesburg, South Africa, Capital Markets in Africa — South African pension funds have mostly ignored investing in private equity because trustees aren’t familiar with the asset class despite rule changes five years ago allowing larger investments, according to bodies representing both parts of the industry. About 2.3 percent of the country’s $234 billion retirement pool in 2014 was invested in private equity, the Southern Africa Venture Capital and Private Equity Association said in a report on Tuesday, citing…

Private Equity | CDC Group Plc Acquires a 10.7% Stake in I&M Holdings, Kenya

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NAIROBI, Kenya, Capital Markets in Africa: CDC Group plc (CDC), the UK’s development finance institution, has announced it will take a 10.68 per cent equity stake in the Nairobi-headquartered banking group I&M Holdings (IMHL). The investment underlines CDC’s commitment to supporting lending to small and medium sized enterprises (SMEs) in East Africa. Founded in 1974, IMHL’s commercial banking operations in Kenya rank in the country’s top ten, serving more than 100,000 customers. Having embarked on…

Investment | Eni to invest EUR 20 bilion in Africa over next four years, CEO says

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Lagos, Nigeria, Capital Markets in Africa — Italy’s Eni plans to invest about 20 billion euros ($22.5 billion) in Africa over the next fours, mostly in oil and gas, the company’s Chief Executive Officer Claudio Descalzi said on Friday. “That represents about 60 percent of our investments” (over that period) he said in a presentation at the International Energy Agency in Paris. Descalzi said Eni, which is involved in projects in 15 African countries, will…

Infrastructure | The future of Africa lies inside Africa, AfDB President Says

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Addis Ababa, Capital Markets in Africa: “If we don’t fix Africa’s infrastructure financing gap – which we put at some US $60-70 billion a year – we will continue to take two percentage points off Africa’s annual growth rates. And we cannot allow that to happen,” said African Development Bank President Akinwumi Adesina at the first ever Global Infrastructure Forum in Washington on Saturday. Sharing a panel with the heads of nine other Multilateral Development Banks and…

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