Africa | - Part 21

Fund Raising | ACA closes US$570mn private equity fund

LAGOS, Capital Markets in Africa: African Capital Alliance (ACA) today announced that it has raised a total of approximately US$570mn of committed capital for its fourth private equity fund, Capital Alliance Private Equity IV Limited (“CAPE IV” or the “Fund”). As a result, ACA has become the first West Africa-focused fund manager to raise over US$1bn in aggregate capital commitments, since its formation in 1997. Over its nineteen-year history, ACA has built a strong and…

South Africa’s Richest Man Says Continent Is ‘Retailer’s Dream’

Posted on by The Editorial Team

SOUTH AFRICA, Capital Markets in Africa: Africa’s large and youthful population represents an opportunity for retailers to expand even as conducting business in many countries remains a challenge, according to Christo Wiese, the billionaire chairman of the continent’s biggest food chain, Shoprite Holdings Limited. The potential is “a retailer’s dream,’’ Wiese, 74, who describes himself as an ‘Afro-optimist,’ said in an interview this week in Cape Town. “I don’t know how people ignore the fact that Africa…

Investment | DEG invests in Nigerian food producer

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LAGOS, Capital Markets in Africa: Deutsche Investitions- und Entwicklungsgesellschaft mbh (DEG) announced an investment in the Nigerian Beloxxi Industries Ltd. (Beloxxi) with around US$10mn, with which the biscuit manufacturer plans to expand its production. Further investors are the investment companies, 8 Miles and Africa Capital Alliance, which invested an additional amount of US$70mn. The family-run company, Beloxxi, produces cream crackers in its state of the art production facility. These thin, crispy wheat crackers are becoming…

Why Listing on a Public Exchange adds value for Business and Investors

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LAGOS, Nigeria, Capital Markets in Africa: Africa has long been regarded as the ‘last frontier’ in terms of economic growth and investors have pinned their hopes on the latent potential of the continent. However, the tapering off of commodities prices following lower demand from China provides evidence that many countries have still been too dependent on oil and other commodities for export. The reliance on commodity-related growth and lack of restructuring in many economies have…

Delivering Successful Infrastructure Projects through Public Private Partnerships

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LAGOS, Nigeria, Capital Markets in Africa: What are the challenges in implementing successful and sustainable infrastructure projects in Africa? Why do projects take so long to become a reality? Surely one of the biggest challenges for Government Authorities is the organization and administration of a framework that will reduce bottlenecks and facilitate project promoters to address risks appropriately, such that projects can proceed. Over the past ten years, more African countries have recognized the advantages…

Republic of Congo bond jumps 7 cents after missed payment made

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CONGO, Capital Markets in Africa: The Republic of Congo’s 2029 dollar bond jumped by as much as 7 cents on Tuesday after trade body Emerging Markets Trade Association (EMTA) said the country had transferred funds to make an overdue payment on the issue. The bond, in which $478 million is outstanding, traded as high as 71 cents in the dollar after closing at 64 cents on Monday, its lowest level on record, according to Tradeweb…

Plugging Africa’s Infrastructure gap through Public Private Partnerships

Posted on by The Editorial Team

LAGOS, Nigeria, Capital Markets in Africa: Africa is widely acknowledged as being the ‘preeminent emerging markets investment destination’ attracting global investors across all sectors. Investors seeking relatively higher risk-adjusted returns are appraising opportunities across the consumer sector, services and Infrastructure. However, one of the key constraints to economic growth in Africa is the lack of adequate and well-maintained infrastructure. Various studies on the infrastructure deficit have been carried out by multi-lateral agencies most notably a…

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