Private Equity |

AfricInvest and Amethis acquire a minority stake in CFG Bank

RABAT (Capital Markets in Africa )- AfricInvest and Amethis, leading pan-African mid-cap-focused private equity firms, are pleased to announce the closing of a minority equity investment in CFG Bank (“CFG”), a pioneering investment bank which is now extending its activities to become a universal bank. Established in 1992 by Adil Douiri and Amyn Alami, CFG initially operated as a capital markets investment advisor for retail clients, and soon became a leader in investment banking services…

Fitch: Diesel Breakthrough May Slow Electric Vehicle Adoption

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LAGOS (Capital Markets in Africa ) – Fitch Ratings-London/Barcelona-26 April 2018: A recent technology breakthrough announced by Bosch, which the company claims can radically reduce nitrogen oxide emissions from diesel engines, has the potential to reverse some of the recent pullback from the fuel, Fitch Ratings says. This could moderate the pace of electric vehicle (EV) adoption by restoring one of auto manufacturers’ more powerful options for meeting fleet-wide carbon dioxide (CO2) emissions targets. Diesel…

IFC Venture Capital Leads US$8.6mn Series A Investment in Africa’s Talking

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NAIROBI (Capital Markets in Africa ) – IFC, a member of the World Bank Group, today announced that it led the US$8.6mn Series A equity investment in Africa’s Talking, a Kenyan based communication-platform-as-a-service (“cPAAS”) API startup, to enable the startup to expand its footprint across the continent. As part of the deal, Wale Ayeni, who leads IFC’s venture capital activities in Africa, will join the boards other investors in the round including global venture capital…

Nissan Eyes Bigger East African Market With Kenya Auto Plant

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NAIROBI (Capital Markets in Africa) – Nissan Motor Co. Ltd. plans to start assembling vehicles in Kenya, bolstering government plans to develop a regional auto-manufacturing hub in East Africa’s biggest economy. The Japanese automaker is the latest to target Kenya after Volkswagen AG, PSA Peugeot and CNH Industrial NV announced plans for assembly lines in the past 18 months. The facilities could cut new-vehicle costs to customers in some of the continent’s fastest-growing economies, where vehicle ownership…

Zimbabwe Power to Draw Down $199 Million for Hwange Expansion

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HARARE (Capital Markets in Africa) – The Zimbabwe Power Co. will draw down $199 million from a China Export-Import Bank loan in April to begin building additional units at the Hwange Thermal Power Station, acting Managing Director Joshua Chirikutsi said. Upon completion, the $1.5 billion units 7 & 8 will add 600 megawatts to the existing 920-megawatt plant, Zimbabwe’s biggest. ZPC and Sinohydro Corp. will own 64 percent and 36 percent respectively of the proposed…

Olam Eyes Fish Farming in Africa to Tap Growing Middle Class

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LAGOS (Capital Markets in Africa) – Olam International Limited, one of the world’s largest food traders, is considering expanding into fish farming in Africa to tap demand from a growing and more affluent population. The Singapore-based firm is conducting a feasibility study on farming fish in West Africa, likely in Nigeria, the continent’s most populated country, Chief Operating Officer Shekhar Anantharaman said. Olam could potentially start the venture with partner and shareholder Mitsubishi Corp., which owns fish…

Helios Towers Halts IPO Plans After Eaton Towers Deal Report

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LAGOS (Capital Markets in Africa) – Helios Towers Plc abandoned plans for an initial public offering following a report that it could merge with another telecommunications tower operator in Africa, Eaton Towers Ltd. A merger between the two could take place, given the scope for regional sector consolidation, Merger market reported on Wednesday, citing a person familiar with the situation and two industry advisers. Earlier talks to combine failed due to disagreement on valuation, yet…

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