August 22, 2013
As emerging markets continue to fall from grace, their less high-profile frontier peers are stealing some of the spotlight.
A recent report from Bank of America Merrill Lynch showed that while some $2.1 billion exited emerging market funds from January to mid-August, frontier market funds saw inflows of $1.5 billion in the same period. More…
June 18, 2013
Reposted from PR Newswire
Delonex bets on significant, underexplored resource potential in Central and East Africa
Delonex Energy Limited (together with its subsidiaries referred to as “Delonex Energy” or “the Company”), a new, world-class energy exploration and production company (E&P) focused on Central and East Africa, today announced that an affiliate of Warburg Pincus, a global private equity firm focused on growth investing, has agreed to lead an investment of up to $600 million in the Company. More…
June 18, 2013
Reposted from AllAfrica
More than a million Chinese have moved to Africa in the last decade, largely because they see the continent as an arena of almost limitless opportunity.
By Howard W. French
For the last three years, I have traveled extensively in sub-Saharan Africa, after an unaccustomed absence. My recent experiences, which have ranged through every region of the subcontinent, tell me two essential things: Africa is caught up in intense and rapid change, and American policy toward the continent is not adjusting fast enough.
A trickle of articles in the American press has belatedly recognized Africa’s strong run of economic growth. Some of them have touted the expansion of a new African middle- or consumer-class, which by some measures is larger than that of India. Others have focused on the continent’s overall economic growth, drawing on data and forecasts from the International Monetary Fund and other sources. These suggest that over the next several years, Africa will grow faster than any other continent, including Asia. More…
June 17, 2013
Vietnam and Mozambique are developing trade and investment ties
Reposted from Touitrenews
By Thoai Tran
Mozambique is calling for investment from Vietnam into many sectors, said a high-ranking senior state of official of the Southeast African country at a recent business forum in Ho Chi Minh City.
Agriculture, industrial production, infrastructures, finance/ banking, seafood processing, mining, and telecommunications are potential fields that the Mozambique government is offering many incentives for foreign investors, said Gamilied Munguambe, Mozambican ambassador to Vietnam at Vietnam-Mozambique Business Forum. More…
June 14, 2013
Reposted from Bloomberg
Africa is home to the world’s youngest and fastest-growing population, McKinsey & Co. said in a 2010 report.
By Kamlesh Bhuckory
Actis LLP, a private-equity company, will lead investment of as much as $1.5 billion in African commercial property to meet rising demand from international companies targeting a growing middle class.
“We are seeing a shift in interest from South African brands to European retailers” seeking opportunities in fast-growing economies such as Nigeria, Ghana and Kenya, Kevin Teeroovengadum, 39, director of Actis’ sub-Saharan Africa real estate unit, said in an interview in Johannesburg on June 11. “They want to tap into the emerging middle class.” More…
June 13, 2013
Reposted from People’s Daily Online
Chinese technicians and African workers at an expressway construction site in Nairobi, Kenya. China has established two funds to finance Chinese enterprises investing in Africa.
The China-Africa Business Council and the China-Africa Development Fund have decided to set up two new funds this year boost China’s investment in Africa. One fund is for commercial ventures, and the other, for mining activities.
Zheng Yuewen, chairman of CABC, which represents the interests of more than 550 Chinese companies in Africa, said each fund will raise $1 billion in its initial phase from member companies and the CADFund, China’s largest private equity fund focusing on African investments. More…
June 4, 2013
Chinese firms are investing millions in Ethiopia’s manufacturing sector
Reposted from the Financial Times
By William Wallis
Huajian, one of the largest shoe exporters in China, is planning a multimillion-dollar factory expansion in Ethiopia in a sign that Chinese manufacturers are starting to move to Africa to benefit from preferential trade tariffs and lower labour costs.
To read the full article, please visit the FT site More…
May 31, 2013
Ethiopia is signing a deal with China’s ZTE and Huawei to double mobile phone subscribers to 40 million
Reposted from Reuters
By Aaron Maasho
Ethiopia will sign agreements with China’s ZTE Corp and Huawei Technologies Co Ltd in a “few weeks” to expand its mobile phone infrastructure and double subscribers to 40 million, a senior Ethiopian official said on Thursday.
ZTE Corp, China’s second-largest telecoms equipment maker, has already been involved in developing phone and internet services in the Horn of Africa nation for several years. More…
May 23, 2013
African stock exchanges are performing well in 2013
Reposted from The Washington Post
The barrage of hourly tweets sent out by Aly-Khan Satchu — East Africa’s version of CNBC’s Mad Money host Jim Cramer — cheers on what Satchu says is a growing sentiment among investors: If you’re not investing in Africa, you should be. Or as Satchu loudly proclaims on his Twitter feed or newspaper column: “ITS BOOM TOWN BABY.”
Several African stock markets are seeing huge returns this year. Though small, Ghana’s stock market is up more than 50 percent so far in 2013, one of the world’s top performers. Kenya — up 35 percent — has been touching record highs all year. Nigeria is also up 35 percent on the year.
Global investors used to put their money into Africa in the continent’s north — the Arab rim — and the south — South Africa, Satchu said. But now the money is going to the middle. When Rwanda offered $400 million in 10-year dollar-denominated bonds last month, demand was more than eight times the supply. More…
May 15, 2013
Catalyst Principal Partners has acquired a 50% stake in an Ethiopian bottled water company
Reposted from Ethiosports
By Markos Berhanu
Catalyst Principal Partners, an East African-focused private equity firm, today announced the acquisition of a 50% stake in Yes Brands Food & Beverages PLC, Ethiopia.
Speaking at the signing ceremony, Catalyst CEO Paul Kavuma said “Yes Brands is the leading bottled mineral water company in Ethiopia with a dominant brand and market share. Catalyst aims to build upon the company’s strength to accelerate growth of the business through enhanced operational capacity, deeper distribution and product innovation.” More…