Abidjan News

Private equity in Africa steps up a gear in 2016

Private equity in Africa steps up a gear in 2016: African Private Equity and Venture Capital Association (AVCA)

Private equity investment in Africa continues to go from strength to strength, evidenced by a new report from the African Private Equity and Venture Capital Association (AVCA).

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%.

Abidjan, Ivory Coast

Ivory Coast: Tech Hub on the Rise

Following years of political turmoil, Côte d’Ivoire is growing quickly and attracting investment. Now, the government is trying to position the country as west Africa’s technology and start-up hub.

Shop Africa 2016: Knight Frank

Shop Africa 2016 (Report & Infographics): Knight Frank

Sub-Saharan Africa is experiencing a wave of modern shopping mall development. The retail sector has become a major focus for development activity in recent years, as investors have been attracted by the growth potential of African consumer markets.

Akinwumi Adesina, President, AfDB

Africa growth stays strong even as China slumps: Akinwumi Adesina, President, AfDB

Strong investment flows to Africa will sustain high economic growth on the continent even amid low oil prices and a slowdown in China, African Development Bank President Akinwumi Adesina said.

Orange Strikes $160M Deal for Tigo DRC

Orange Strikes $160M Deal for Tigo DRC

Orange is set to continue its acquisition spree in Africa with a $160 million takeover of Millicom’s Tigo-branded mobile phone business in the Democratic Republic of Congo.

Orange buys Bharti Airtel operations in Burkina Faso and Sierra Leone

Orange buys Bharti Airtel operations in Burkina Faso and Sierra Leone

French telecom incumbent Orange has agreed to acquire Bharti Airtel’s businesses in Burkina Faso and Sierra Leone in a continuation of its expansion strategy in West Africa.

A makeup booth at Carrefour in Abidjan

CFAO plans 80 malls across Africa, opens $66M mall in Abidjan

French distribution group CFAO opened its first shopping mall in Africa on Friday, a $66 million centre in Ivory Coast’s commercial capital Abidjan, as part of a major drive to tap into the growth of Africa’s middle classes.

First Burger King restaurant opens in Ivory Coast

First Burger King restaurant opens in Ivory Coast

Burger King, the second largest fast food hamburger chain in the world, announced on Tuesday the opening of the first Burger King restaurant in Abidjan, Ivory Coast.

South African Airways now flies to Abuja

South African Airways launches flights to Abuja, Nigeria

South African Airways (SAA) has introduced a second entry point to Nigeria in its quest to enable trade and unlock mobility, which will considerably add to business travel options in the West African region.

Abidjan, Ivory Coast

Concrete strides: Sub-Saharan Africa's infrastructure potential

For this West African city of more than 4.7 million people, the bridge to a better economy starts with an actual bridge.

Alassane Ouattara, President of Ivory Coast

President Alassane Ouattara sees transformative potential in Ivory Coast's economic comeback

President Alassane Ouattara sees transformative potential in Ivory Coast’s economic comeback — not just for his country, but also for the largely untapped and underserved west African market of more than 300m.

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.

Akinwumi Adesina assumes office as 8th President of the African Development Bank Group

Adesina assumes office as 8th President of the African Development Bank Group

Former Nigerian Agriculture Minister Akinwumi Adesina formally assumed office as the 8th elected President of the African Development Bank Group (AfDB) on Tuesday, September 1, 2015.

La Croisette, Abidjan, Ivory Coast

La Croisette, Abidjan

La Croisette is the business lunch destination de rigueur in Abidjan. It is a must-visit not only because of its elegant cuisine — local seafood as well as imported French beef and cheese.

Africa50 has held its first constitutive General Assembly this Wednesday 29 July 2015 in Casablanca

Africa50 Infrastructure Fund raises $830M in first closing

Africa50 has held its first constitutive General Assembly this Wednesday 29 July 2015 in Casablanca Africa50, the new and innovative infrastructure investment…

Jomo Kenyatta International Airport, Nairobi, Kenya

AfDB considering up to $100M loan to fund expansion of Kenya's Jomo Kenyatta International Airport

Jomo Kenyatta International Airport, Nairobi, Kenya The African Development Bank is considering lending the Kenya Airports Authority as much as $100 million…

European Investment Bank headquarters, Luxembourg

European Investment Bank Plans Africa Expansion Amid Growth

The European Investment Bank plans to open offices in four more African cities as it strengthens its foothold on a continent looking for financing to build infrastructure, said a senior official with the lender.

The businessman and art collector Sindika Dokolo in Porto, Portugal. Credit Patricia de Melo Moreira for The New York Times.

Husband of one of Africa's richest women fights for African art

Sindika Dokolo, a Congolese businessman and art collector, is on a crusade to force Western museums, art dealers and auction houses to return Africa’s art, particularly works that might have been removed illegally during the colonial era.

Africa’s unique opportunity to promote inclusive growth. Credit: hbr.org

Africa's unique opportunity to promote inclusive growth: Jonathan Berman, CEO, J.E. Berman Associates (Infographic)

Six years after the global recession began, many parts of the world are still struggling to achieve growth.

The role of cities in Africa's rise - KPMG

The role of cities in Africa's rise: KPMG (Infographics & Report)

New dynamic markets around the globe are offering boundless opportunities. Firms are gravitating towards new markets in the south and the east, where the inflow of foreign direct investment (FDI) are resulting in returns on investment (ROI) far exceeding those of mature markets in Europe and North America.

Lars Reno Jakobsen, Senior Vice President, Maersk Africa

Maersk to target Nigeria & Kenya ports in Africa expansion push: Lars Reno Jakobsen, Senior Vice President, Maersk Africa

A.P. Moeller-Maersk A/S, owner of the world’s largest shipping container line, is seeking to win contracts to build and upgrade ports in Nigeria and Kenya as the Danish company expands its African operations.

Donald Kaberuka, outgoing AfDB President

I will continue working for the development of Africa: Donald Kaberuka, outgoing AfDB President

The outgoing President of the African Development Bank has pledged to continue working for Africa after serving the Bank for a decade.

Vincent Le Guennou, Co-CEO, Emerging Capital Partners

Private equity firm Emerging Capital Partners looking to raise additional $750M for Africa deals

Emerging Capital Partners, the buyout firm that’s made more than 50 investments in Africa, is seeking as much as $750 million as it pursues further deals.

Into Africa - The continent’s Cities of Opportunity - PwC

Into Africa: The continent’s Cities of Opportunity - PwC (Video, Presentation, and Report)

Megatrends are colliding across Africa. The growing middle class, the strong demographic growth with improving age mix, the technological innovation that we have already seen in mobile payments for example, growing choice of investment partners from the global south and fast-paced urbanization are shaping what the future of Africa could look like.

Standard bearer … Donald Kaberuka, the outgoing president of the African Development Bank, at a board meeting in Abidjan, Ivory Coast, last September. Photograph: Sia Kambou/AFP/Getty Images

Here are the eight candidates running for African Development Bank President

The African Development Bank (AfDB) will elect a new president at the end of the month as its current leader, Donald Kaberuka, steps down after a decade in charge.

Cristina Duarte, Cape Verde’s Finance Minister. Photographer: Nicholas Kamm/AFP/Getty Images

First woman candidate for AfDB boss says Africa must retain wealth

Cristina Duarte, the finance minister from Cape Verde who is the first woman to stand for the presidency of the African Development Bank, said the lender should encourage wealth generated in Africa to stay on the continent.

Abidjan-based Bourse Régionale des Valeurs Mobilières (BRVM) regional stock exchange covers eight countries in Francophone West Africa.

London Stock Exchange eyes dual listings on West African capital markets

Following on from partnerships and dual listings with a number of African capital markets, the London Stock Exchange (LSE) is looking to foster dual listings with the West African regional exchange.

Marek Zmyslowski, Managing Director, Jovago

Why you should take chances: Marek Zmyslowski, Managing Director of top African hotel booking website Jovago (Video)

Marek Zmyslowski is the CEO and Managing Director of Lagos-based Jovago. Jovago is an online marketplace that connects travellers across Africa with hotels. Jovago enables customers to secure hotel rooms through an online platform that is faster, cheaper, and easier than the alternative of making a phone call.

Man City's Yaya Toure considering Ivory Coast retirement

Man City's Yaya Toure considering Ivory Coast retirement

Manchester City’s Yaya Toure says he will decide about his international future with the Ivory Coast this week.

Ivory Coast president Alassane Ouattara and Ivory Coast captain Yaya Toure parade the Africa Cup of Nations trophy on Monday

Yaya Toure and Ivory Coast team return home to hero's welcome after African Cup of Nations triumph (Photos)

Hundreds of thousands of supporters at the airport and on the streets of Ivory Coast‘s commercial capital Abidjan welcomed home the national football team on Monday after its victory at the Africa Cup of Nations in Equatorial Guinea.

Commerzbank headquarters in Frankfurt, Germany

Commerzbank Plans to Open Ivory Coast Office to Tap High Growth

Commerzbank AG, Germany’s second-biggest bank, plans to open an office in Ivory Coast as economic growth in the West African country rebounds.

Igho Sanomi, Founder and CEO, Taleveras Group

Nigerian multi-millionaire oil tycoon Igho Sanomi to build giant oil storage terminal in Equatorial Guinea

Taleveras Group, an oil trading firm owned by Igho Sanomi, a 39 year-old Nigerian businessman, has signed an agreement with Equatorial Guinea’s Ministry of Mines, Industry and Energy to construct what will be one of the largest oil storage terminals in Africa.

Nicky Newton-King, CEO, Johannesburg Stock Exchange (JSE)

African Women To Watch: Capital Markets (Video)

Stock markets across Africa have made steady progress across the last decade. Since 2002, Africa’s five leading exchanges have tripled the combined market capitalization of listed companies.

Abidjan, Ivory Coast

Increased confidence in West Africa-focused private equity

Although Africa still only makes up a small portion of the private equity market, interest is on the rise as a result of a burgeoning middle class and strong growth figures across the continent as a whole.

Abidjan, Ivory Coast

Private equity firms look to Ivory Coast for deals

Some of the largest private equity investors in sub-Saharan Africa are considering expanding into Ivory Coast, a country that is currently experiencing an economic renaissance after years of conflict.

Albert Essien, CEO, Ecobank

Ecobank considers sale of $500M stake in Nigerian unit: Albert Essien, CEO, Ecobank

Ecobank Transnational Inc. is considering selling a stake in its Nigerian subsidiary as part of a plan to raise about $500 million of equity for the unit.

Thierry N'Doufou, CEO, Qelasy

How Africa's first education tablet computer was created: Thierry N'Doufou, CEO, Qelasy (Video)

Thierry N’Doufou’s three eldest children tumble out of the car; the little one trips over her school bag as she tries to work out what to do with her break-time snack.