Africa

Frontier markets feel the love as emerging peers crumble 0

Frontier MarketsSource: CNBC

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…

Delonex Energy announces $600 million investment led by Warburg Pincus to fund oil & gas exploration in Central and East Africa 0

Delonex bets on significant, underexplored resource potential in Central and East Africa

Delonex bets on significant, underexplored resource potential in Central and East Africa

Reposted from PR Newswire

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…

The China-Africa convergence: Can America catch up? 0

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.

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.

Reposted from AllAfrica
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…

Mozambique Calls for Vietnamese Investments in Multi-Sectors 0

Vietnam and Mozambique are developing trade and investment ties

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…

Actis $1.5 billion Africa property plan to tap middle class 0

Africa is home to the world’s youngest and fastest-growing population, McKinsey & Co. said in a 2010 report.

Africa is home to the world’s youngest and fastest-growing population, McKinsey & Co. said in a 2010 report.

Reposted from Bloomberg
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…

Two new funds to boost trade with Africa 0

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.

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.

Reposted from People’s Daily Online

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…

China Plans Multimillion Ethiopia Investment 0

Chinese firms are investing millions in Ethiopia's manufacturing sector

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…

Ethiopia To Sign Mobile Network Deals With ZTE, Huawei 0

Ethiopia is signing a deal with China's ZTE and Huawei to double mobile phone subscribers to 40 million

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…

‘Boom Town Baby’: African stock markets see big gains; Ghana, Kenya, Nigeria up big 0

African stock exchanges are performing well in 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…

Catalyst Principal Partners Acquires Stake in Ethiopia’s Yes Brands 0

Catalyst Principal Partners has acquired a 50% stake in an Ethiopian bottled water company

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…

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