Investment | - Part 37

Investment | Renaissance Capital Moves Into Mozambique in Deal With Dominio

Maputo, Mozambique, Capital Markets in Africa: Renaissance Capital Limited is pushing into Mozambique to take advantage of what it says is increasing interest from foreign investors in the southern African country. The Moscow-based investment bank, which trades across 43 emerging and frontier markets, signed a partnership deal last week with Lisbon-based Dominio Capital Group, which has an office in Maputo, Mozambique’s capital. The agreement will make it easier for RenCap to work on deals for clients wanting…

Investment | ShowMax Expands to 36 African Countries in Challenge to Netflix

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Johannesburg, South Africa, Capital Markets in Africa: Naspers Limited, Africa’s biggest company by market value, expanded its video-streaming service ShowMax into 36 new sub-Saharan African countries in a challenge to Netflix Inc., which is also growing in the region. The new markets went online Friday, bringing ShowMax’s availability globally to 65 countries, the company said in an e-mail. The service started in August. Naspers, which has a market value of $57 billion and is Africa’s largest…

Investment | DuPont Plans to Double Its African Seed Business in Five Years

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LAGOS, Nigeria, Capital Markets in Africa: DuPont Company plans to more than double its African seed business, excluding the mature South African market, over five years as governments and farmers on the least-developed continent seek to boost crop yields, a director of the company’s Pioneer unit said. “From a revenue perspective we’re aiming for over 20 percent in terms of the compound annual growth rate,” Prabdeep Bajwa, the African regional business director for Pioneer, said in…

Investment | Africa Investors Look East as Commodity-Driven Boom Withers

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LAGOS, Nigeria. Capital Markets in Africa: Investors targeting Africa are looking east, as depressed commodity prices and slowing growth in China put the brakes on a two-decade growth surge in the world’s poorest continent. Kenya, Tanzania and host Rwanda are the countries in vogue at the World Economic Forum’s annual confab of Africa’s business and political leaders that began Wednesday in Kigali. All three economies should expand at least 6 percent this year, double the…

Africa’s growth: Meltdown or slowdown?

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JOHANNESBURG, South Africa, Capital Markets in Africa: Economic growth across the region is likely to remain slower in coming years than it has been over the past 10 to15 years. The International Monetary Fund’s (IMF) baseline projection for 2016 is now down to 3%, from what was a forecasted 6.1% in April 2015(1). The main reasons for a relative slowdown are not unique to Africa and are the same as those weighing down the global…

Private Equity | CDC Group invests US$140m in East Africa’s ARM Cement

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NAIROBI, Kenya, Capital Market in Africa: A new US$140 million investment designed to boost the local supply of cement in East Africa and promote infrastructure development has been announced today by CDC, the UK’s development finance institution. CDC is investing in ARM Cement Limited (“ARM”), a producer of cement, lime and fertilizer, with operations in Kenya, Tanzania and Rwanda. CDC’s capital will help the company develop its existing business and to potentially expand its operations…

Investment in Africa — Will the “Africa Rising” Story continue?

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LAGOS, Nigeria, Capital Markets in Africa — Low commodity prices, the worst drought in Southern Africa since 1982, on-going social unrest, the terrorism threat in East and West Africa – the list of doom and gloom scenarios for many African countries in 2016 is a long one. But what about positive stories around major urban development projects; M&A deal-making in Africa reaching new heights*; improved anti-corruption legislation and enforcement; or Ethiopia’s emergence as a major…

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