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.
The investment case for Africa requires taking the long view, especially when it comes to thinking about serving consumers on the continent.
Lagos’s infamous back-to-back traffic can turn a simple trip to the grocery store into a time-consuming ordeal.
Coca-Cola Co said it would exercise its right to buy Anheuser-Busch InBev’s stake in Africa’s biggest Coke drinks bottler, after the brewer’s takeover of SABMiller.
Duet Private Equity has signed an exclusive agreement with the Asset Management Corporation of Nigeria (AMCON) to establish an investment fund focused on Nigeria’s fast-moving consumer goods (FMCG) sector.
Africa is on companies’ growth agenda for obvious reasons. Six of the 10 fastest-growing economies in the world are in Africa, it has the world’s greatest proportion of young people, and it has a burgeoning urban population with growing demand for many goods not yet widely available, as well as the means to buy them.
Modern trade is growing in Kenya, especially in Nairobi and emerging secondary cities.
As Africa’s global business prominence continues to surge, so too does Aliko Dangote’s profile as one of the region’s most recognised entrepreneurs.
Shoprite Holdings Ltd. (SHP), South Africa’s biggest food retailer, is shifting its investment focus to the rest of the continent as sales in its home market slow and full-year profit missed analysts’ estimates.
When we talk about African development, there is a belief that its booming population can only equal crisis.
When Orji Uzor Kalu, jet-setting Nigerian businessman and controversial politician is in Abuja, he usually spends most of his time at his sprawling mansion which is located a few minutes’ drive away from the Aso Rock Presidential Villa, the official residence of Nigeria’s President.
Cyril Ramaphosa, who took office yesterday as South Africa’s deputy president, agreed to trade his interests in regulated businesses in exchange for stakes in consumer goods companies to avoid conflicts of interest, according to two people with knowledge of the matter.