Private Equity |

Buyout Said to Value Largest African Feedlot at $450 Million

JOHANNESBURG (Capital Markets in Africa) – Africa’s largest cattle feedlot is considering a management buyout that will value the company based south of Johannesburg at about 6 billion rand ($450 million), according to two people familiar with the matter. The management of Karan Beef (Pty) Ltd. may approach the Public Investment Corp. — which manages pension funds of South African government workers — to assist it with funding, said the people, who asked not to be identified because the information…

African Telecom Firm Eaton Towers Is Said to Postpone IPO

Posted on by The Editorial Team

LAGOS (Capital Markets in Africa) – African telecommunications company Eaton Towers Ltd. has decided to postpone an initial public offering on concern that conditions are hurting valuations, according to people familiar with the matter. Eaton Towers, partly owned by Ethos Private Equity Pty Ltd., was seeking a valuation of about $2 billion in a sale in London and Johannesburg, the people said, asking not to be named as the details aren’t public. The firm was initially planning…

Liberty Refused to Pay Ransom After Computer Systems Hacked

Posted on by The Editorial Team

JOHANNESBURG (Capital Markets in Africa) – Liberty Holdings Ltd., the South African insurer midway through an overhaul to improve profit, said it refused a ransom demand after hackers breached its information-technology infrastructure and accessed some emails. The stock fell the most since April 4. “We did engage with the external parties involved to determine their intentions, but we made no concession in the face of this attempted extortion,” Liberty Chief Executive Officer David Munro said Sunday in…

When AI Helps Keep the Lights On

Posted on by The Editorial Team

LAGOS (Capital Markets in Africa) – Azuri’s HomeSmart adjusts power output based on prior solar battery use. In sub-Saharan Africa, home electricity is a 50-50 prospect and bank accounts can be rare, but most people have some kind of cellphone. The phones provide information often tough to come by in rural areas—the latest commodity prices, for example. And even in places where pastoral tribesmen tend livestock in very old-school ways, they may also chat over…

Centum Kenya to Fund-Raise, Exit Investments as Profit Falls

Posted on by The Editorial Team

NAIROBI (Capital Markets in Africa) – Centum Investment Co., Kenya’s second-largest publicly traded investment group, plans to raise funds by selling assets and will target third-party funding for projects, after it reported a plunge in full-year profit. The Nairobi-based company will reduce its stakes in investments that aren’t providing “good returns” and part of the proceeds will be used to help repay outstanding debt of 11.4 billion shillings ($113 million), Chief Executive Officer James Mworia said at…

Legae Buys Peregrine Securities to Add Prime Broking Edge

Posted on by The Editorial Team

JOHANNESBURG (Capital Markets in Africa) – Legae Securities Pty Ltd., South Africa’s first black-owned and managed securities firm, agreed to buy the stockbroking unit of Peregrine Holdings Ltd., giving it access to one of the country’s largest prime-broking businesses. A consortium of investors including Johannesburg-based Legae, some management from Peregrine Securities and a group of black investors, agreed to pay 760 million rand ($57 million) for Peregrine’s 65 percent stake in the brokerage, the companies…

Nigeria, Morocco Set Stage for Construction of Gas Pipeline

Posted on by The Editorial Team

LAGOS (Capital Markets in Africa) – Nigeria and Morocco set the stage for the construction of a pipeline that will connect Nigerian gas to customers elsewhere in Africa and make it available to European buyers. Nigerian President Muhammadu Buhari and King Mohammed VI of Morocco on Sunday signed an agreement in Rabat to start studies and consultations on the project, according to a statement by the Moroccan state agency MAP. The 5,660-kilometer (3,500-mile) conduit, which will follow onshore and…

« 1 … 15 16 17 18 19 … 58 »