Private Equity

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…

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…

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…

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…

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…