September 2015 African Business News


Starwood will be opening the Four Points by Sheraton Oran in November, marking the entry of the brand into Algeria

Starwood Hotels accelerates growth in Africa with seven new deals

Company to expand Africa portfolio by over 50% in the next five years entering new markets and introducing more brands.

Nigerian can maker GZ Industries takes on Nampak with $71M South African factory

Nigerian can maker GZ Industries takes on Nampak with $71M South African factory

GZ Industries Ltd. of Nigeria plans to expand into South Africa with the construction of a 1 billion rand ($71 million) factory, becoming the second beverage-can maker after Nampak Ltd. to have operations in the country.

Jabu Mabuza, Chairman, Telkom

Telkom said to seek Cell C for less than $1.6B price

Telkom SA SOC Ltd. is seeking to buy mobile-phone operator Cell C Pty Ltd. for less than the 22 billion rand ($1.6 billion) value placed on the South African company by its owners, according to a person familiar with the situation.

Kenyans to trade government bonds from their mobile phones

Kenyans to trade government bonds from their mobile phones

Kenyans will soon be able to buy fixed-income government bonds from their mobile phones, a move that will deepen access to financial services in east Africa’s biggest economy while also giving Treasury a cheaper source of funding.

Hennie Heymans, incoming Managing Director, DHL Express Sub-Saharan Africa

DHL Express appoints Hennie Heymans as Managing Director for Sub-Saharan Africa

Hennie Heymans, currently Managing Director of DHL Express South Africa, has been appointed as Managing Director of DHL Express Sub-Saharan Africa.

SimbaPay wins DEMO Africa 2015

SimbaPay wins DEMO Africa 2015. Next stop: Silicon Valley

At DEMO Africa 2015, SimbaPay showcased a new app that enables the opening of bank accounts in Africa from outside the continent.

Akinwumi Adesina, President, African Development Bank (AfDB)

New African Development Bank President Adesina looking to mobilize $55B for energy projects on the continent

African Development Bank President Akinwumi Adesina, who took over this month, said he’s aiming to eliminate Africa’s energy deficit by 2025 by mobilizing $55 billion of investment.

Hurley Doddy, Co-Chief Executive Officer of ECP and outgoing Chairman of Continental Re. Credit: privcap.com

Private equity firm Emerging Capital Partners exits Continental Reinsurance Plc

Emerging Capital Partners (ECP), an international private equity firm focused on investing across the African continent, along with its investment partners, announces the sale of C-Re Holding Limited to Saham Finances S.A, the insurance arm of Saham Group. C-Re Holding holds a 53.6% stake in Continental Reinsurance Plc, the leading private reinsurance company in Africa, excluding South Africa.

Kingsley Moghalu, former Deputy Governor of the Central Bank of Nigeria

Replace Nigeria's patrimony of oil with the politics of hope: Kingsley Moghalu, former Deputy Governor of the Central Bank of Nigeria

For too long, Nigerian leaders have acted as though the only decisions they had to make concerned who should get what.

Chimamanda Ngozi Adichie

13 Inspiring Quotes From Chimamanda Ngozi Adichie

Occasionally, I forget why I love reading so much and my book consumption drops precipitously, until I come across a book that jolts me out of my funk.

Growth: some are taking their sugar expertise to the mainland

Mauritius vies with larger African neighbors to be continental hub

As Mauritius developed into one of Africa’s wealthiest and advanced nations, the island nation’s focus tended to be far beyond the shores of its home continent.

Andre de Ruyter, CEO of Nampak Ltd. Photographer: Waldo Swiegers/Bloomberg

Nampak Plans Glass Factories in Africa's Most Populous Nations

Nampak Ltd., Africa’s biggest maker of beverage cans, has agreed with partners to build glass-bottle manufacturing plants to take advantage of growing demand for packaged consumer goods and bottled drinks in the two countries where a quarter of Africans live — Nigeria and Ethiopia.

Obinna Ekezie, Founder, Wakanow

Former NBA athlete returned to Nigeria to become successful entrepreneur (Video)

Obinna Ekezie is the Founder of Wakanow.com, one of the fastest growing and largest internet travel sites in Africa.

Trader at the Ethiopia Commodity Exchange (ECX)

Ethiopia Commodity Exchange (ECX) to increase capacity 5,000x with introduction of electronic platform

Ethiopia’s commodity exchange plans to double the items it trades by next year after introducing an electronic platform to replace its system of shouting and gesturing orders, the firm’s chief executive said.

Founder of InaTidé and Head of Energy and Natural Resources at FBN Capital. Credit: rolake.iprofile360.com

Nigerian entrepreneur aims to plug energy project funding gaps with new startup

One characteristic the Mint economies share is that they have younger populations than their more economically developed counterparts around the world.

Tesco, Asda and Sainsbury's might soon face tough competition if Africa's retail titan gets his way. (Reuters/Neil Hall)

A South African tycoon is buying up some of Britain's most precious assets: its shops

Christo Wiese, the South African businessman behind Africa’s largest retailer, Shoprite, has his sights on entering the grocery sector in Britain through a possible acquisition.

African internet capacity growth continues to lead world

Fact of the Day: Africa's internet capacity growth was the fastest in the world over the past five years (Infographics)

Worldwide international Internet capacity growth continues to slow, falling from 41 percent in 2011 to 31 percent in 2015.

A wall of mixed retail opportunity (Reuters/Siphiwe Sibeko)

The most promising retail markets in Africa are in countries people rarely talk about

It is rarely mentioned countries, like Gabon, Botswana and Angola, that are increasingly becoming attractive for multinational retailers looking to launch and expand on the African continent, according to a new report.

Matome Mbatha, Market Manager, Africa & Americas, Wines of South Africa (WOSA)

South Africa wine body pairs Nigeria with red, Angola with fizz

South African wine producers are trying to cater for Angolans’ thirst for sparkling wine and Nigerian demand for bottles of red to penetrate the African market, according to the country’s leading trade body for the industry.

Ashish Thakkar, Founder, Mara Group

Ugandan millionaire Ashish Thakkar's Mara Group raising $100M to launch pan-African e-commerce platform

Dubai-based Mara Group is launching an Africa-wide online marketplace that it hopes will become the leading e-commerce business in Africa within less than four years.

Ngozi Okonjo-Iweala, Nigeria’s former Finance Minister, joins Lazard as Senior Advisor

Nigeria's former Finance Minister Ngozi Okonjo-Iweala joins US investment bank Lazard as Senior Advisor

Ngozi Okonjo-Iweala, Nigeria‘s former Minister of Finance, has announced that she will be joining US-based investment bank Lazard as a Senior Advisor, as part of the firm’s sovereign advisory group.

Godwin Emefiele, Governor, Central Bank of Nigeria (CBN)

Is #Nigeria's central bank governor Godwin #Emefiele being made a scape goat? Are low oil prices good for #Nigeria? #ABCView

Yes, Nigeria’s central bank governor, Godwin Emefiele, is in fact being made a scape goat for the country’s economic challenges.

Passengers ride Ethiopia's new tramway on September 20, 2015 in Addis Ababa (AFP Photo/Mulugeta Ayene)

Addis Ababa opens first modern tramway in Sub-Saharan Africa

Sub-Saharan Africa’s first modern tramway opened in the Ethiopian capital on Sunday, marking the completion of a massive infrastructure project hailed as a major step in the country’s economic development.

7 Reasons to Be Bullish on MTN Group

South Africa broadband blitz unlocks video-on-demand

A rapid roll-out of fiber optic broadband in upmarket South African neighborhoods has caught the attention of Internet video streaming companies who are racing to capture a slice of a lucrative, untapped market.

Uzo Aduba stars as Suzanne "Crazy Eyes" Warren on the Netflix series "Orange Is the New Black".

Nigerian-American Uzo Aduba wins 2nd straight Emmy for Netflix series "Orange Is the New Black"

Uzo Aduba’s winning streak is not over. The “Orange Is the New Black” star had a strong year last year, bringing home a number of awards for her role as “Crazy Eyes” on the hit Netflix series, and it looks like this year may be her year, too.

Diane Radley, CEO, Old Mutual Investment Group. Credit: venturesafrica.com

Old Mutual Investment Group follows parent company in expansion beyond South Africa into rest of continent

Old Mutual Investment Group says it is interested in buying property assets in east and west Africa and seeks to invest between $18 million and $37 million acquiring such assets.

MainOne MDX-i data center in Lekki, Lagos, Nigeria

Inside MainOne's MDX-i in Lagos: A photo tour of the first Tier III data center in West Africa

While the internet continues to play a major role in our everyday lives, it’s easy to forget that the billions of data being processed everyday are not stored “somewhere in the clouds”, but in actual, physical data centers all over the world.

Teraco and Dark Fibre Africa complete high-speed fiber optic link for Johannesburg Stock Exchange market data

Teraco and Dark Fibre Africa complete high-speed fiber optic link for Johannesburg Stock Exchange market data

Africa’s largest vendor neutral data center, Teraco, recently announced that a high speed, low-latency fiber link between the Johannesburg Stock Exchange (JSE) and the Teraco Isando data center in Johannesburg has been completed by Dark Fibre Africa.

World's largest brewer Anheuser-Busch InBev approaches South Africa's SABMiller for record industry acquisition

World's largest brewer Anheuser-Busch InBev approaches South Africa's SABMiller for record industry acquisition

Anheuser-Busch InBev NV said it intends to make an offer to acquire SABMiller Plc in a deal that would unite the world’s two biggest beermakers and control about half the industry’s profit.

South Africa’s bold priorities for inclusive growth - McKinsey Global Institute

5 things South Africa can do to raise GDP by $1 trillion & create 3.4 million jobs: McKinsey Global Institute (Infographics & Report)

In the two decades since South Africans worked together to transform their political landscape and usher in a new democracy, the country has made remarkable progress.

Sub-Saharan Africa Banking Review 2015 - EY - Report

Sub-Saharan Africa Banking Review 2015: EY (Infographic & Report)

This report analyzes three of the largest Sub-Saharan Africa banking markets: South Africa, Nigeria & Kenya. The report also includes Tanzania, Uganda and Rwanda, members of the
East African Community (EAC) regional bloc.

Bimpe Nkontchou, Managing Principal, W8 Advisory

How Africa's super-rich spend their millions (Video)

Bimpe Nkontchou, Managing Principal, W8 Advisory, speaks about how Africa’s ultra-rich spend their wealth.

Marina, Lagos, Nigeria. Image credit: Body Lawson Studios

Watch Lagos from the sky in HD (Video)

Like any other major city in the world, Lagos does have its good parts.

Afrimax raises $120M for Africa high-speed broadband network

Afrimax raises $120M for Africa high-speed broadband network

Mobile internet firm Afrimax Group has raised $120 million to fund the expansion of a high-speed broadband network in Africa, it said on Tuesday, the latest firm to jockey for position in the continent’s fast-growing consumer internet market.

Johann Vorster, CEO, Clover

Clover Mulls Building South Africa's First Dairy Mega-Factory

Clover Industries Ltd. is considering building South Africa’s first dairy mega-factory to boost exports to the rest of the continent from a country that consumes about 98 percent of the milk it produces, potentially countering the need for future volume and price cuts.

Tony Zhang, Director, Huawei Guinea. Credit: Bloomberg.com/Photographer: Waldo Swiegers

Huawei plans to complete Guinea's $238M fiber optic network in 2017

Huawei Technologies Co. plans to complete a $238 million fiber-optic network in bauxite-rich Guinea in 2017, according to Tony Zhang, the company’s director in the country.

Workers harvest grapes by hand at a vineyard in South Africa. Photographer: Peter Titmuss/Universal Images Group via Getty Images

South Africa Promotes Expensive Wines to Boost Exports

South African wine makers are promoting higher-priced bottles to boost sales in established European markets and make inroads in the U.S. and Asia where they hardly have a presence, the head of a local industry organization said.

Alex Kyriakidis, President and MD, Middle East and Africa, Marriott

Marriott to enter South Africa with $74M in new developments

Marriott International Inc. plans to develop a Johannesburg hotel and executive apartments at a cost of about 1 billion rand ($74 million), the U.S. hotelier’s first own-branded properties in South Africa.

Tesla Powerwall

Is #Africa on the verge of a solar energy boom? #ABCView

Like #Africa leapfrogged fixed-line telephones to mobile, the same could happen with the conventional electrical grid & solar energy.

Cereal maker Kellogg to buy $450M stake in Nigeria's Multipro to grow in Africa

Cereal maker Kellogg to buy $450M stake in Nigeria's Multipro as part of Africa expansion

Kellogg Co. agreed to buy a 50 percent stake in Nigerian food distributor Multipro for $450 million and is creating a joint venture with Tolaram Africa to help expand on the continent.

Kevin Brady, CEO, A2X Markets

Trader Promises Price War to Undercut Africa's Biggest Exchange

Kevin Brady, once head of equity trading for South African-born bank Investec Ltd., wants to compete with Africa’s biggest and oldest financial market, JSE Ltd.

Chigozie Obioma, author of “The Fishermen”, is one of six writers vying for one of the world's most prestigious book prizes. Photo: Craig Chandler/University of Nebraska-Lincoln

Nigerian author Chigozie Obioma shortlisted for Man Booker Prize 2015

For his celebrated debut novel, The Fishermen, Nigerian writer Chigozie Obioma is one of six authors vying for this year’s Man Booker prize, one of the most prestigious book prizes in the world.