Economy

Nigeria asks Goldman and Stanbic to advise on diaspora bond debut

Nigeria asks Goldman and Stanbic to advise on diaspora bond debut

Nigeria has asked Goldman Sachs and the local unit of South Africa’s Standard Bank to advise it on the sale of a debut “diaspora bond” targeted at Nigerians living abroad, Stanbic IBTC Bank said on Monday.

Nairobi, Kenya. Credit: Africa Capital Group/Ninara/Flickr

Africa to Rebound in 2017: Peter C. Thoms, Founder, Africa Capital Group

2016 was a tumultuous year that offered Africa investors many opportunities to make mistakes.

Nakumatt just sold a 25% slice of itself to an investment fund. Credit: qz.com/Reuters/Thomas Mukoya

Nakumatt and Shoprite are attracting interest from international investors for their fast-growing markets (Infographic)

The investment case for Africa requires taking the long view, especially when it comes to thinking about serving consumers on the continent.

Arif Naqvi, Group CEO, Abraaj Group. Credit: forbes.com

Abraaj CEO says Africa is core to investment plan

Middle Eastern private equity investor Abraaj Group says Africa is core to its investment strategy, as it bets the continent’s rising middle class will consume more goods.

Arif Naqvi, Group CEO, Abraaj Group. Credit: Bloomberg

Private equity firm Abraaj is interested in buying Barclays Africa (Infographics & Video)

Abraaj Group, the private equity firm that invests across emerging markets, is interested in buying a stake in Barclays Plc’s South African business.

Aliko Dangote, President, Dangote Group. Credit: CNBC Africa

I will build Dangote Group into a $100B business, I still have plans to buy Arsenal, says Africa's richest man Aliko Dangote (Video)

“If you are in Africa or in Nigeria for the short-term, then you shouldn’t be there,” says Aliko Dangote, the President of Dangote Group.

Edwin Dande, Managing Partner & CEO, Cytonn Investments. Credit: capitalfm.co.ke

Kenya set to remain a hotspot for private equity investments in East Africa

According to Cytonn Investments, Kenya will remain a hotspot for private equity (PE) with global deal makers expected to continue to be attracted by the country’s improved business environment.

Why Africa Remains Ripe for Private Equity: BCG

Why Africa Remains Ripe for Private Equity: BCG (Infographics & Report)

For the past decade, Africa has been one of the world’s hottest growth markets for private equity investment. In the early 1990s, a mere dozen Africa-based funds managed a combined $1 billion; today, more than 200 funds manage upwards of $30 billion.

African markets are ripe to absorb more private equity investment

African markets are ripe to absorb more private equity investment (Infographics)

Private equity investments across Africa may soon rise as firms are set to expand their activity on what remains one of the fastest growing regions in the world.

Africa's Private Equity Promise And What It Can Deliver

Africa's Private Equity Promise And What It Can Deliver

The fundamental precept of Private Equity (PE) is to transform a company and improve it, thus allowing it to achieve its full capability by enhancing its operational structure.

Africa’s rising middle class – and why it matters. Credit: newafricanmagazine.com

Africa's rising middle class - and why it matters

According to the African Development Bank (AfDB), as far back as 2011 there were already 313 million people – or 34 per cent of the continent’s total population – that could be referred to as middle class.

Bob Collymore, CEO, Safaricom

Safaricom's M-PESA has Kenya's government worried what happens in the event of a crash (Infographic)

At the time of M-Pesa’s launch in 2007, few could have conceived the mobile money service would be as ubiquitous and deeply entrenched in the lives of millions of Kenyans as it is today.

Nana Akufo-Addo, Ghana's President-Elect

Ghana President-Elect says aiming for double-digit growth

Ghana’s president-elect Nana Akufo-Addo said on Wednesday he would focus on restoring stability, cutting taxes and interest rates and spurring double-digit growth, in his first comments on the economy since winning a Dec. 7 vote.

Modderfontein New City, Johannesburg, South Africa

11 giant infrastructure projects that are reshaping Africa

By the United Nations’ estimate, the continent will see its current population of 1.2 billion double by the year 2050.

Port of Mombasa, Kenya

Why Invest in Africa? The Big Picture

While the last couple of years have been tough for African equities and currencies, we believe the long-term case for investing in Africa remains intact.

Ethiopia Opens Massive Gibe 3 Hydroelectric Dam on Omo River

Ethiopia Opens Massive Gibe 3 Hydroelectric Dam on Omo River

Ethiopia on Saturday officially opened the Gibe 3 hydroelectric dam, which is among the biggest in Africa, despite concerns by environmentalists about its impact downstream and upon neighboring countries.

Godwin Emefiele, Governor, Central Bank of Nigeria

Nigerian Banks in Distress? Not Exactly

Nigeria’s economy has spent much of 2016 in recession for the first time in over two decades. Unsurprisingly there has been speculation about the strength of its banking system.

Ghana’s President-Elect, Nana Akufo-Addo

Ghana's new president: Jobs, jobs, jobs

Nana Akufo-Addo, the 72-year-old leader of the New Patriotic Party (NPP), was elected Ghana’s president on December 9 by a margin of 1 million votes.

How Kenya has become a geothermal superpower

How Kenya has become a geothermal superpower (Video)

Kenya is a global superpower of the flower trade, and Oserian, one of the largest fair-trade flower farms in the country, is a major reason why.

The case for South African hedge funds

The case for South African hedge funds: Jaclyn Petrone, Director of International Business Development, Laurium Capital

Over the years as international investors have searched for yield and found themselves looking towards Africa, many have invested with a long-term mindset focused on private and public equity strategies.

All eyes on Africa tech

All eyes on Africa tech

Forget bootstraps. Africa is a continent dragging itself up by its code strings to become a global player – but it needs more software developers, writes Brett Parker, SAP Africa Managing Director.

Chinelo Anohu-Amazu, Director General, Pension Commission of Nigeria (Pencom)

Nigeria pension funds look to small businesses for growth

Nigeria’s pension regulator hopes to launch a savings scheme for the country’s widespread small business sector.

Felichesmi Mramba, Managing Director, Tanzania Electric Supply Company (TANESCO)

Tanzania plans Ethiopia energy imports as 12-nation regional power pool emerges

Tanzania expects to begin importing electricity from Ethiopia in 2019 when the eastern African nations complete interconnection grids currently to form a regional power pool.

Sandton City, Johannesburg, South Africa

Sandton: Africa's richest square mile?

Sandton Central, without doubt, has become the most important business and financial node in South Africa, and plausibly sub-Saharan Africa.

Zoya Sisulu, ‎Head of Debt Primary Markets, South Africa, Standard Bank. Credit: Business Day (South Africa)

African debt capital markets resilient in face of growth challenges

Debt capital markets across Africa’s sub-regions have remained robust despite the macroeconomic and political challenges presented.

Across Africa, 3 in 4 countries improve business environment

Across Africa, 3 in 4 countries improve business environment (Infographic)

Almost three-quarters of African countries saw an improvement in their business environments in 2016, according to the Doing Business 2017 report published in October by the World Bank.

Kenya Plans First Nuclear Power Plant at $5 Billion Cost

Kenya Plans First Nuclear Power Plant at $5 Billion Cost

Kenya plans to begin constructing its first nuclear power plant at a cost of $5 billion by 2021 as the country seeks to bring down the cost of electricity.

Fashion-conscious Lagosians switch to online shopping

Fashion-conscious Lagosians switch to online shopping

Three years ago, MallforAfrica joined the raft of Nigerian tech start-ups attracting private equity and venture capital backing.

Nonkululeko Nyembezi-Heita, Chairman, Johannesburg Stock Exchange

African stock exchanges should focus on smaller businesses: Nonkululeko Nyembezi-Heita, Chairman, Johannesburg Stock Exchange

The African growth story is no longer a fairy tale. Over the past decade, multinational companies, private equity funds and infrastructure development programs have channeled capital to the continent.

Labi Ogunbiyi

Data can become Nigeria's new "black gold"

In the early 2000s I decided to leave my job heading the African project finance team in a global law firm to become an investor.

Dar es Salaam, Tanzania

The rise of Africa's megacities

Over the last 35 years, the share of Africa’s population living in urban areas climbed from 27% to 40%.

Nigeria's President Muhammadu Buhari. Credit: Yahoo/Pius Utomi Ekpei/AFP/Getty Images

Fool Nigeria Once, Shame on You. Fool Nigeria Twice ...

It’s been a tough year for Nigerian President Muhammadu Buhari. The mood in Africa’s most populous nation is a far cry from the euphoria that greeted his historic 2015 election.

Dangote Industries cement plant in Dakar, Senegal

Gulf investments in Africa beginning to spread far and wide

Traditionally, investments from the Arabian Gulf into Africa have focused on North Africa, owing partly to closer cultural ties and the Gulf’s focus on western markets. This scenario is slowly changing and so too are the pan-African investment strategies of Gulf investors.

These 6 Sectors of Africa's Economy Are Poised for Growth - McKinsey

These 6 sectors of Africa's economy are poised for growth: McKinsey

In 2011, we published an article in HBR examining the surprisingly rapid growth of African economies and consumer markets.

NNPC Towers, Abuja, Nigeria. Credit: iloveabuja.com.ng

Nigeria proposes broad oil sector overhaul and potential NNPC stock exchange listing

Nigeria outlined a plan to overhaul state oil company NNPC and eventually list it on the stock exchange in a bid to modernize and streamline the industry.

Bryan Leith, COO, KPMG Africa

Africa's Economic Prospects: Bryan Leith, ‎COO, KPMG Africa

While on a road show for US clients, Bryan Leith, chief operating officer of KPMG’s global Africa practice, sat down with Global Finance to discuss the continent’s economic prospects.

Will he cash in on Africa's real estate boom?

Will he cash in on Africa's real estate boom?

You’ve heard it before: Africa, the new investment frontier! Risky, but high reward potential, the mantra goes of emerging markets — particularly in Africa, home to 13 of the 20 fastest-growing economies in the world.

Live music in Accra, Ghana

Why is Ghana 25 times more successful than Nigeria at attracting tourism revenues?

Tourism should be an easy win for emerging market (EM) and frontier market (FM) economies with weakened currencies, and cheap jet fuel; an opportunity that we think is being missed.

Chinelo Anohu-Amazu, Director General, Pension Commission of Nigeria (Pencom)

Africa still attractive to investors, says PenCom Head Chinelo Anohu-Amazu

Portfolio flows into Africa may be falling but this marks a readjustment in the way investors interact with the continent, says Chinelo Anohu-Amazu, Head of Nigeria’s National Pension Committee (PenCom).

East African Community a bright spot amidst emerging markets gloom

East African Community a bright spot amidst emerging markets gloom

While many countries are registering a sharp slippage in economic growth, East African economies, Ethiopia included, are expected to deliver above 6 percent economic growth, the World Bank has said in its latest report.

There's still room for growth. Credit: qz.com/Reuters/Akintunde Akinleye

The "Africa Rising" story isn't over yet, despite China's slowdown and flagging growth in Nigeria and South Africa

The idea that African economies are on the way up first became popular around 2010, buoyed by a commodities boom and improved governance across the continent. Now, with flat commodity prices and slowing demand from China, the narrative of “Africa Rising” has mostly fallen out of fashion.

Business-to-business market in Africa to show $1 trillion growth by 2025, says McKinsey

Business-to-business market in Africa to show $1 trillion growth by 2025, says McKinsey

According to the World Bank, 35 of 47 economies in sub-Saharan Africa took at least one step in making it easier to do business in their country in 2015.