Private Equity |

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

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

Posted on by The Editorial Team

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

Posted on by The Editorial Team

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

Posted on by The Editorial Team

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

Posted on by The Editorial Team

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…

South Africa Delays Renewable Projects Pending Court Hearing

Posted on by The Editorial Team

JOHANNESBURG (Capital Markets in Africa) – South Africa delayed signing agreements for renewable-energy projects worth 56 billion rand ($4.7 billion), after a court postponed a ruling on a labour union application to block the deals. The National Union of Metalworkers of South Africa and Transform RSA applied for an interdict on Monday evening to prevent state-owned utility Eskom Holdings SOC Ltd. from signing 27 power purchase agreements that have been held up since 2016. While…

Steinhoff Boosts Fund-Raising to $1.4 Billion in KAP Sale

Posted on by The Editorial Team

JOHANNESBURG (Capital Markets in Africa) – Steinhoff International Holdings NV boosted the amount raised from asset sales to about $1.4 billion as the embattled global retailer strives to shore up its balance sheet. The owner of Conforama in France and Mattress Firm in the U.S. sold almost 3.7 billion-rand ($313 million) of shares in South Africa’s KAP Industrial Holdings Ltd., adding to disposals including stock in investment holdings company PSG Group Ltd. and a private jet….

« 1 … 17 18 19 20 21 … 58 »