Investment | - Part 12

Kibo Capital invests in Blowplast Limited

NAIROBI (Capital Markets in Africa) – Africa-focused private equity fund manager Kibo Capital Partners is backing Blowplast Ltd, a plastic packaging company based in Kenya. As part of the deal, Christoph Evard, who led the deal for Kibo, will take a seat on the company’s board. Financial terms of the deal were not disclosed. The capital will be used to fund Blowpast’s expansion plans for East Africa and beyond. The company, which was founded in…

LeapFrog invests US$180mn in Enterprise Group Ghana

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ACCRA (Capital Markets in Africa) – LeapFrog Investments, the profit-with-purpose investor in emerging markets, today announces a total investment of US$180mn in Ghanaian financial services market leader, Enterprise Group Limited (Enterprise Group). The transaction draws from a US$350mn separately managed account, LeapFrog Strategic African Investments (LSAI), which was established in 2016 to access high growth markets in Africa. The Enterprise Group commitment represents LeapFrog’s largest investment to-date and marks the first investment of LSAI, a fund…

Julius Berger Eyes Oil, Power Deals to Curb Nigeria Risk

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LAGOS (Capita Markets in Africa) – Julius Berger Nigeria Plc, the largest construction company by market value in the West African nation, plans to acquire oil assets and expand into the power industry as it seeks to diversify its business and stay competitive after the country’s worst economic slump in decades. The Abuja-based company, which derives two-thirds of its earnings from government contracts, is also considering bidding for business in other countries in the region,…

Dangote $700 Million Deal to Meet Third of Nigeria’s Sugar Needs

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LAGOS (Capital Markets in Africa) – A Dangote Industries Ltd. subsidiary will invest $700 million in a central Nigerian project that seeks to produce almost a third of the sugar consumed in Africa’s most populous nation. Tunga Sugar project, in the central state of Nasarawa, will be made up of a 60,000-hectare (148,260-acre) plantation and two factories with combined capacity of 430,000 metric tons of refined white sugar, Dangote Group’s president, Aliko Dangote, said in a…

Dangote to Invest $1 Billion in Nigeria Rice Production

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LAGOS (Capital Markets in Africa) – Dangote Group is making a five-year investment of at least $1 billion to grow and process rice in seven Nigerian states, bringing sub-Saharan Africa’s biggest importer of the grain closer to its goal of self-sufficiency. Dangote Rice Ltd., a unit of the Lagos-based company, plans to increase cultivation of paddy, or raw rice, to 150,000 hectares (371,000 acres) and harvest an annual 1.7 million metric tons by 2019. Most of…

Emerging Economies are at the forefront of Moving the World to a Climate-Resilient Clean Economy

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LAGOS (Capital Markets in Africa) – Emerging economies are increasingly taking the lead in shifting the world onto a cleaner development path, a senior World Bank official said on Wednesday, pointing to the role of China, India and Africa’s Ethiopia in pushing down the cost of producing solar power. John Roome, senior director for climate change at the World Bank, said India had evolved from a decade ago when it was seen as part of the…

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