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INTO AFRICA August 2019 Edition – Managers of Africa’s Asset and Wealth

Welcome to the August 2019 edition of INTO AFRICA, a publication written by the professionals, for professionals, investors, policymakers … Advancing and providing fresh insight into Africa’s emerging markets through renowned thought leadership and peer-to-peer knowledge-sharing. The edition is titled: Managers of Africa’s Asset and Wealth. African countries have been increasing their ranks of wealthy citizens through a phase of rapid economic growth. Knight Frank’s 2019 Wealth Report forecasts that there will be over 400…

INTO AFRICA May 2019 Edition – Private Equity: Nurturing Africa

Posted on by The Editorial Team

Welcome to the May 2019 edition of INTO AFRICA, a publication written by the professionals, for professionals, investors, policymakers … Advancing and providing fresh insight into Africa’s emerging markets through renowned thought leadership and peer-to-peer knowledge-sharing. The edition is titled: Private Equity: Nurturing Africa. African private equity (PE) has remained robust with the total value of fundraising increasing to US$2.7bn in 2018 from US$2.4bn in 2017, indicating investors’ ongoing confidence in African PE, based on…

CDC Made Wrong Call on Investment in Kenyan Cement Maker ARM

Posted on by The Editorial Team

NAIROBI (Capital Markets in Africa) – CDC Group Plc misjudged the potential of Kenyan cement maker ARM Cement Plc when agreeing to invest $140 million almost three years ago, and is banking on the prospect of an acceptable buyout offer in a forthcoming auction. The U.K. investment firm allocated over half of its Kenyan portfolio to ARM to back an expansion into Tanzania and the development of a potential East African regional champion, Chief Executive Officer Nick…

Kenya Plans to Narrow Fiscal Deficit to 5% of GDP in 2019-20

Posted on by The Editorial Team

NAIROBI (Capital Markets in Africa) – Kenya, East Africa’s biggest economy intends to narrow its budget deficit to 5 percent of gross domestic product in the fiscal year beginning in July, from 6.3 percent in the current period. The budget gap is seen at 572.2 billion shillings ($5.62 billion), compared with an estimated 635.5 billion shillings in the 12 months through June, the Treasury said in a draft document on its website. It plans to…

Fracture in Kenyan Ruling Party May Revive Rift Valley Tensions

Posted on by The Editorial Team

NAIROBI (Capital Markets in Africa) – An alliance that helped deliver Kenyan President Uhuru Kenyatta two terms in office is fracturing, reviving tensions in the country’s Rift Valley region that was wracked by widespread violence a decade ago. The deputy chairman of the ruling Jubilee Party stepped down on Sunday after saying Deputy President William Ruto shouldn’t be allowed to succeed Kenyatta. That undermines an arrangement in which Ruto delivered the backing of his Rift Valley constituents for Kenyatta’s…

Kenya Could Lose Port on Default of China Exim Loan, Nation Says

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NAIROBI (Capital Markets in Africa) – China’s Export-Import Bank could take over East Africa’s biggest port should Kenya fail to repay a loan taken to finance its new railway, Nation newspaper said, citing a report by the country’s auditor-general. The Chinese bank agreed in 2014 to lend Kenya 90 percent of the $3.8 billion it required for the railway’s first phase linking the port city of Mombasa to the capital, Nairobi. The East African nation secured another…

Kenya to Allow Commercial Farmers to Lease Idle Government Land

Posted on by The Editorial Team

NAIROBI (Capital Markets in Africa) – Kenya, where agriculture contributes a third of gross domestic product, will allow commercial farmers to lease idle government land as the state tries to improve food security. The Ministry of Agriculture and Irrigation will publish the terms that will allow farmers to plant on idle government as it seeks to maximize use in a country where only 20 percent to the land mass is arable, Deputy President William Ruto said Friday…

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