Private Equity |

CEO of Africa’s Biggest Fund Manager Fights for His Future

JOHANNESBURG (Capital Markets in Africa) – Public Investment Corp. Chief Executive Officer Dan Matjila rejected an allegation he misused funds as “spurious” ahead of a board meeting on Friday that could decide his future at the helm of Africa’s biggest money manager. Johannesburg’s Star newspaper reported Thursday that Matjila has been told by PIC Deputy Chairman Xolani Mkhwanazi to respond to an accusation he used PIC funds to finance a personal project related to someone he is allegedly…

Old Mutual Wealth to Absorb Some MiFID-Related Costs

Posted on by The Editorial Team

JOHANNESBURG (Capital Markets in Africa) – Old Mutual Wealth, a unit of Old Mutual Plc, said it will absorb some additional expenses when Europe’s MiFID II takes effect next year, though it hasn’t yet announced whether it will pass onto its clients the cost of external research for funds. “Absorbing costs is something we have to do and we already are,” Paul Feeney, chief executive officer of Old Mutual Wealth, said in an interview in Johannesburg on…

Coors-Led Fund Buys Africa’s Largest Sushi-Grade Trout Farm

Posted on by The Editorial Team

JOHANNESBURG (Capital Markets in Africa) – One Thousand & One Voices LLC, a private-equity fund started by the great-grandson of the founder of Coors Brewing Co., said it bought a producer of sushi-quality trout that is the largest such facility in Africa. SanLei’s operations are on the Katse Dam in Lesotho, an enclave surrounded by South Africa, 1K1V, as the fund is known, said in an emailed statement Tuesday. The company didn’t disclose the value of…

Solar Telecom Company Calls Ex-Morgan Stanley Manager to Africa

Posted on by The Editorial Team

LAGOS (Capital Markets in Africa) – GreenWish Partners, a renewable energy company run by a former Morgan Stanley executive, is planning to invest $800 million on solar-powered telecommunications towers across Africa. The project could fuel economic growth by providing power for essential services. Sub-Saharan Africa has the lowest rates of energy access in the world and is home to about half of the world’s 1.2 billion people without reliable electricity, according to the International Energy Agency. The problem extends…

Gabon Seeks Private Partnerships to Boost Processing of Minerals

Posted on by The Editorial Team

Libreville (Capital Markets in Africa) – Gabon, Africa’s second-biggest manganese producer, wants to partner with private companies to process most its minerals locally before exporting them, Mining Minister Christian Magnagna said. Local processing will boost the mining industry’s contribution to gross domestic product from the current 2.1 percent to at least 4 percent as the central African nation seeks to make its economy less dependent on oil, Magnagna said in an interview in the capital, Libreville….

XSML invests in Monishop, Congo-Kinshasa

Posted on by The Editorial Team

KINSHASA (Capital Markets in Africa) – XSML, the fund manager active in Central & East Africa, announced its investment in Monishop sarl (Monishop), a well-known supermarket in Kinshasa, DRC. Since inception Monishop has grown to become the leading supermarket in Kinshasa in terms of product offering and overall store experience, with bank, fast-food and pharmacy facilities on the same premises. The investment supports Monishop to build a new large supermarket in the center of Kinshasa. Monishop…

« 1 … 21 22 23 24 25 … 58 »