Investment | - Part 36

Impressions from the World Economic Forum on Africa —- RMB Morgan Stanley

The 26th World Economic Forum on Africa was held in Kigali, Rwanda last week: We attended the gathering and provide feedback on the conference and the investable themes coming out of it. Connecting Africa’s Resources through Digital Transformation: The theme of this year’s forum builds on that of the World Economic Forum held in Davos this January, by honing in on how Africa sees itself participating in the so-called Fourth Industrial Revolution. Rwanda, a continental…

Investment | Nigeria Talking With Ansteel of China Over $4.5 Billion Project

Posted on by The Editorial Team

LAGOS, Nigeria, Capital Markets in Africa: Nigeria is in talks with companies including Ansteel Group Corporation of China to revive its $4.5 billion Ajaokuta steel complex, according to solid minerals development minister Kayode Fayemi. While construction of Ajaokuta started over three decades ago along the Niger River in central Nigeria with a planned production of 5 million metric tons annually, it was never completed. President Muhammadu Buhari wants to revive the factory project to diversify Africa’s largest economy which relies on oil,…

Investment | Private Equity | Actis invests in Mundiapolis University, Morocco

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LONDON, Capital Markets in Africa: Actis has invested in Mundiapolis University (Mundiapolis), a top ranking private university in Morocco, as a bolt-on acquisition to its investment in Emerging Markets Knowledge Holdings. Actis is investing in Mundiapolis to support an ambitious development plan that strengthens the university’s offering, accelerates its internationalisation, and strengthens its important contributions on the African continent. Across growth markets, education is at the centre of changing lifestyles, as employers pay premiums for…

Investment | Orange Targets Expanding Nigerian Companies Adopting More IT

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LAGOS. Nigeria, Capital Markets in Africa: Orange SA’s business-services unit has opened its first sales office in Nigeria as local companies seek to expand outside their domestic market and cut technology costs amid an economic slowdown fueled by the fall in crude-oil prices. Orange Business Services is aiming for annual double-digit sales growth from its office in Lagos, Nigeria’s commercial capital, Giorgio Heiman, vice president in charge of Africa, told reporters in the city on Tuesday….

Investment | Ivory Coast Attracts $15.4 Billion in Pledges, Twice Its Budget

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Abidjan, Ivory Coast, Capital Markets in Africa: Ivory Coast received more than $15 billion in pledges from donors and lenders to fund its five-year development plan, almost double the amount it sought at a Paris meeting that showcased the world’s top cocoa grower as an investors’ favorite in Africa. The West African nation wanted to secure at least 4,425 billion CFA francs ($8.8 billion) in pledges to fund part of a $60 billion investment plan…

Investment | The Carlyle Group invests in Mazarine Energy

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London, Capital Markets in Africa: The Carlyle Group announced an investment in Mazarine Energy B.V., an upstream oil and gas company with existing assets in Tunisia. Carlyle will also grant Mazarine Energy access to an equity line of up to $500 million to fund future bolt-on acquisitions, focusing on low risk, near-term, conventional exploration, development and production opportunities in Europe, Africa and the broader Mediterranean region. Capital for this investment and for the equity line…

Investment | Nedbank Group Hunting for Kenyan Acquisition as Parent Mulls Exit Plan

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Johannesburg, South Africa, Capital Markets in Africa: Nedbank Group Limited, the South African lender being spun off from parent Old Mutual Plc, said it’s in talks that may lead to the acquisition of a Kenyan bank as it seeks to benefit from an economic growth rate that’s double the average for the rest of the continent. “Within the next 12 months we’ll certainly be looking to do a deal,” Mfundo Nkuhlu, chief operating officer of Johannesburg-based Nedbank,…

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