SA is not Alone, Africa has a Plethora of Countries that have Junk Status, here’s the List…
South Africa is among a plethora of countries on the continent whose long-term foreign currency credit rating is rated junk by S&P Global Ratings whilst Botswana is the only country with a very strong investment grade. According to the table... Read More →
Shareholder Wars Rock Planned Sale of Zuku TV
Owners of Internet and pay TV service provider Zuku have been thrust into a vicious boardroom war sparked by plans to sell off Wananchi Business Services — the unit that deals in corporate data services. The company’s founder, Richard Bell,... Read More →
Tunis Equity Firm Seeks to Raise Sh22bn to Invest in Africa Banks
Tunis-based private equity fund AfricInvest is targeting to raise €200 million (Sh21.8 billion) through a new fund that will invest in Africa’s banks. The PE firm, which invested in and exited Kenya’s Family Bank, says it has launched the AFSH... Read More →
Private Equity Activity Grows
From a dozen or so active general partners (GPs) in the region in 1990, there are currently at least 140 GPs active in Africa. Between 2010 and 2016, GPs invested around US$25.6bn across sectors that ranged from consumer goods to... Read More →
AFDB Discloses a $12bn Power Plan for Africa
The African Development Bank (AFDB) has unveiled plan to invest $12 billion over the next five years under its new electrification programme. The fund will support its New Deal on energy for Africa which aims to achieve universal access to... Read More →
Health Care App M-Tiba Pays out Sh100m in Insurance Claims
Safaricom’s healthcare app M-TIBA has paid out Sh100 million to 350 health care facilities in the past seven months, helping to increase access to health services. CarePay and PharmAccess, who are the telco’s partners in the platform, said it had... Read More →
Viceroy Owners Acquire More Shares to Gain Control of Kwal
South African owners of Amarula and Viceroy brands are now the majority owners of Kenya Wine Agencies Ltd after buying out investment firm Centum in a deal estimated at Sh1 billion. Distell yesterday announced it has acquired Centum’s entire 26.43... Read More →
Carlyle Spends $587M for Shell’s Gabon Assets
The Carlyle Group is investing $587 million from two of its funds to acquire international oil major Royal Dutch Shell’s onshore assets in Gabon. The transaction is being executed through Assala Energy, an oil and gas exploration and production company... Read More →
East Africa Private Equity Lobby EAVCA Appoints New Directors
The East Africa Venture Capital Association (EAVCA) has appointed a new executive team as it looks to increase its membership. The private equity (PE) lobby named Ms Eva Warigia and Ms Esther Ndeti as the two new co-executive directors, who... Read More →
Carlyle Group And TPG Capital Make $100 Million Bid For Kenyan Restaurant Chain
Two of America’s largest private equity firms, Carlyle Group and TPG Capital, are looking to acquire Kenyan coffee chain Java House is a deal that could be worth as much as $100 million. According to a report by Kenyan newspaper... Read More →