Bloomberg African Business Weekly: Afreximbank, PTA Bank, South African Private Equity, Powering Rwanda, & Agriculture in Gabon
Jean-Louis Ekra, President, African Export-Import Bank (Afreximbank) – 04:15: Although Afreximbank currently has assets of $4.4B, the size of the bank’s request pipeline from African entrepreneurs is $14B. Afreximbank plans to partner with other financial institutions, including development financial institutions (DFIs) and commercial banks, to satisfy financing requests. Afreximbank sees a lot of demand from the power, telecoms, and tourism sectors. Afreximbank plans to invest $45M in Gabon hotels. Additionally, Afreximbank will be extending a $10M line of credit to the Gabonese Development Bank.
Admassu Tadesse, President, Preferential Trade Area Bank (PTA Bank) – 09:18: Tadesse sees strong growth in the demand for private equity investments in Africa’s infrastructure (especially power and telecoms) and real estate sectors. PTA plans to sell a $500M Eurobond in 2017. The bank will also start managing the infrastructure fund of the Common Market for Eastern and Southern Africa (COMESA).
Erika Van der Merwe, CEO, Southern African Venture Capital and Private Equity Association (SAVCA) – 13:44: According to Van der Merwe, South African private equity has outperformed listed equities over the past decade. Van der Merwe also touches on risk management strategies for private equity investments. South Africa’s Public Investment Corporation (PIC) can allocate up to 5% of its portfolio to PE investments.
Rwanda KivuWatt Power Project – 18:12: The KivuWatt project plans to profitably convert the methane gas in Rwanda’s Lake Kivu into electricity. Plans are for KivuWatt to double Rwanda’s electricity production capacity.
Luc Oyoubi, Minister of Agriculture, Gabon – 20:31: Oyoubi talks about boosting agriculture in Gabon, through upgrades to infrastructure, particularly transportation, electricity, and telecoms; human capital improvements; and increasing exports. Gabon plans to increase agriculture’s contribution to GDP to 15% by 2020. Gabon is working to increase cassava and banana exports.
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