Igho Sanomi, 41, is the founder of Taleveras, a $2 billion (revenues) international commodities trading company active over a wide spectrum of global energy markets including crude oil and refined petroleum products, natural gas and power.
Privately-owned Nakumatt, Kenya’s biggest supermarket chain by sales, has agreed to sell a 25 percent stake to a foreign fund for $75 million, part of an effort to bolster its balance sheet and pay off debts, its managing director said last Wednesday.
Three years ago, MallforAfrica joined the raft of Nigerian tech start-ups attracting private equity and venture capital backing.
South Africa’s major urban cities remain the most visited in the African continent, attracting millions of tourists, boosting local tourism and injecting billions of dollars into the economy.
Hotel developers will invest billions of dollars in African projects over the next few years as they seek to take advantage of a fast-expanding middle class and growing business travel.
Even as a deal is imminent between Uber and its closest competitor Didi Chuxing in the immense Chinese market, competition in ride-sharing continues to intensify around the globe.
The conversation about Africa is shifting from one of “deficits” and “gaps” to one about opportunities, prospects, ventures and creativity.
Chanzo Capital is an early stage micro-VC firm that provides capital and mentorship to high-tech startups in Kenya, the Ivory Coast, Nigeria, Ghana and South Africa (the so-called KINGS of Africa’s digital economy).
The future looks bright for air travel across Africa. It’s predicted that by 2034, 190 million more flights segments will be flown across the continent.
Abraaj Group, a Dubai-based private equity firm, is in the final stages of approval for three transactions in sub-Saharan Africa and will probably make further investments in the region before the end of the year, partner Sev Vettivetpillai said on Thursday.
Buyout firm Abraaj Group is leading a group of investors planning to bid for a minority stake in Barclays Plc’s African unit, according to people familiar with the matter.
Emboldened by the bank’s success in Egypt, the chief executive of Emirates NBD is eyeing further expansion into Africa.
When considering real estate investment opportunities, people normally think of western cities like London and New York.
Mauritius plans to launch a trading platform to hedge African currencies against the U.S. dollar, part of a bid to expand its role as a financial hub for the continent, the financial services minister said.
The Lagos Deep Offshore Logistics Base (LADOL) is a 100-hectare free zone and logistics hub for multinational industrial and offshore enterprises.
Nigeria’s Access Bank opens representative office in Dubai International Financial Centre (DIFC). This is Access Bank’s first office in the Middle East.
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.
Obinna Ekezie is the Founder of Wakanow.com, one of the fastest growing and largest internet travel sites in Africa.
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.
Naspers Ltd., Africa’s largest company by market value, plans to enable customers of its ShowMax service to download movies and TV shows such as “Game of Thrones” without having to use expensive live Internet streaming, according to a person familiar with the matter.
Telkom SA SOC Ltd., South Africa’s biggest landline provider, sees a potential acquisition of closely held wireless company Cell C Pty Ltd. as a way to grow its own mobile-phone business.
The government of the state of Lagos–Nigeria’s commercial capital–has proudly proclaimed it is building a new city that will become the new financial centre of Nigeria, and perhaps West Africa.
Last month heads of state formally launched negotiations for a continental free-trade area at an African Union summit in Johannesburg.
Volkswagen AG resumed building vehicles in Nigeria for the first time in 25 years in a bid to foster sales growth in Africa.
The Abraaj Group has acquired a majority stake in Mouka, a mattress manufacturer in Nigeria, as part of its plans to expand in Africa.
Abraaj has exited the East African insurance company UAP Holdings through the sale of its 13.6 per cent stake, the Dubai-based private equity firm said today.
RwandAir has signed a deal with a regional African bank for a $160 million loan as part of the financing to buy two aircraft from Airbus, the airline and the bank said on Thursday.
The Ethiopia Commodity Exchange plans to broaden the range of crops it trades and wants to introduce stocks and bonds under a five-year expansion plan, Chief Executive Officer Ermias Eshetu said.
Western advertising and public relations agencies are increasingly merging with African counterparts to attract international corporate clients looking to break into Africa — considered the last frontier for consumer markets.
The Abraaj Group, an emerging-market private equity investor, had “substantially higher” demand for its third Sub-Saharan Africa fund than the $990 million actually raised, partner Mustafa Abdel-Wadood said.
The Abraaj Group, a Dubai-based private equity company managing about $9 billion across emerging markets, raised $990 million for its third Sub-saharan Africa fund as it seeks to benefit from the region’s economic growth.
Ilyas Dawaleh has an ambition: he wants to make his country the Dubai of Africa, and he is getting plenty of help from the UAE to help him achieve that.
Development Partners International, the private equity house, has closed its second Africa fund at $725m, 45 per cent above target, reflecting growing investor appetite to tap the continent’s expanding consumer class.
Emerging markets private equity group Abraaj has raised more than $1.3bn for two funds investing in Africa, the largest amount amassed for direct deals across the continent, people aware of the matter say.
Porsches and Jaguars are parked in the sand while businessmen and their partners, in high heels and hats, sit in the sheltered grandstands, glass of champagne in hand.
There’s a newcomer on the Nairobi restaurant scene: the White Waiter. The other night, Martin Mileveski, a smiley young man from Macedonia, leaned over a table of three immaculately dressed Kenyan women and delicately poured out the Captain Morgan rum.
EFG Hermes, Egypt’s biggest listed investment bank, is considering an entry into Sub-Saharan Africa to tap demand for private equity and corporate advisory services, the chief executive said.