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 →
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 →
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 →
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 →
Investors Face Income Starvation as NSE Firms Drop Dividends from Menu
Squeezed earnings, reorganisation of business models and a drive to expand are testing the patience of investors at the stock market. Many companies at the Nairobi Securities Exchange (NSE) – which is trading at eight-year lows – are increasingly becoming... Read More →
Kenyan Tycoon Wins Sh37.5bn Tender to Build Gas Plant in Mozambique
Kenyan tycoon Humphrey Kariuki has won a Sh37.5 billion tender to build a gas power plant in Mozambique. Mr Kariuki’s firm GL Africa Energy, which is based in the UK, will build and operate the 250-megawatt gas-powered plant in northeastern... Read More →
Kenyan Stocks, World’s Worst This Year, Set to Fall Further
Kenyan stock prices at more than three-year lows may have further to fall with domestic investors favoring bonds and foreign buyers waiting for lower valuations, the head of the bourse said. Shares on the Nairobi Securities Exchange have dropped 6.9... Read More →
Dangote Group Plans to become a $100bn Company
Dangote Group Plans to become a $100bn Company
Dubai’s Abraaj Is Interested in Buying Barclays Africa Unit
Abraaj Group, the private-equity firm that invests across emerging markets, is interested in buying a stake in Barclays Plc’s South African business, Chief Executive Officer Arif Naqvi said. “It’s a very fine bank run by a very fine management team,... Read More →