Investment | - Part 28

South Africa’s PIC Has ‘Appetite’ for Barclays Africa Stake

JOHANNESBURG (Capital Markets in Africa) – Public Investment Corp., Africa’s largest money manager, said it’s interested in boosting its holding in Barclays Africa Group Ltd. and is still considering the best partner to team up with for a bid. “There is appetite from our side to increase our stake,” Chief Executive Officer Dan Matjila said in an interview in Pretoria on Tuesday. “We’re still assessing which is the best partner to go with and the best partner with…

PIC May Boost Investments Outside South Africa as Economy Slows

Posted on by The Editorial Team

JOHANNESBURG (Capital Markets in Africa) – Public Investment Corp., which manages the bulk of South African government employee pensions, will consider further investments outside its home market as the continent’s most industrialized economy expands at the slowest pace since the 2009 recession. “I would like to see more growth, and because of the tough economic environment in South Africa, that is a concern,” Chief Executive Officer Dan Matjila said in an interview in Pretoria on Tuesday. “One way to…

Barclays Agrees to Sell Egyptian Unit to Attijariwafa Bank

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JOHANNESBURG (Capital Markets in Africa) – Barclays Plc agreed to sell its Egyptian business to Morocco’s Attijariwafa Bank as the British firm shrinks its global operations and speeds up the sale of unwanted assets. The deal will probably be completed by the end of this year, the London-based lender said in a statement Tuesday. The disposal will boost the bank’s common equity Tier 1 ratio by 0.1 percentage point, reducing risk-weighted assets by about 2 billion pounds…

Africa’s Biggest Money Manager Grows at Slowest Pace in 7 Years

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JOHANNESBURG (Capital Markets in Africa) – The Public Investment Corp.’s growth in assets under management fell to the slowest pace in seven years after equity markets dropped and South Africa’s economy slowed to levels not seen since the 2009 recession. Assets increased by 2.4 percent to 1.85 trillion rand ($136 billion) in the 12 months ended March 31 from 1.81 trillion rand a year earlier, the Pretoria-based PIC, which manages the bulk of South Africa’s government employees’…

Net 1 Buys Blue Label Stake in $400 Million Deal for Cell C

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JOHANNESBURG (Capital Markets in Africa) – Blue Label Telecoms Ltd. will buy a 45 percent stake in Cell C (Pty) Ltd. for 5.5 billion rand ($400 million) to expand the network of South Africa’s third-largest mobile-phone operator and reduce the target company’s debt. As part of the deal, electronic-payment provider Net 1 UEPS Technologies Inc. agreed to subscribe for 118 million Blue Label shares for 2 billion rand, giving the company a 15 percent stake in Blue…

BP to Buy LNG From Eni’s Mozambique Field in 20-Year Accord

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MAPUTO (Capital Markets in Africa) – BP Plc has agreed to buy the entire liquefied natural gas production from a field off Mozambique over a period of 20 years. The London-based company will purchase cargoes from the Coral South Floating LNG plant being developed by partners including Italy’s Eni SpA, which is due to get final approval by the end of this year, BP said in a statement on Tuesday. The project is expected to have a…

Investec acquires stake in off-grid solar home system company

Posted on by The Editorial Team

JOHANNESBURG (Capital Markets in Africa) – Investec Asset Management, through its Africa Private Equity capability, has acquired a significant shareholding in Mobisol, a leading provider of off-grid solar home systems (SHS) in Africa. Investec Asset Management will partner with Mobisol’s founder management with the aim of accelerating the company’s growth in its existing markets and to support its expansion into new markets in Africa. The Berlin-headquartered company offers low-income African households quality solar home systems…

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