Africa’s richest man Aliko Dangote has partnered with China’s heavy duty truck group Sinotruck to set up a $100 million plant to assemble trucks and cars in Nigeria for local use and export.
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.
In 2011, we published an article in HBR examining the surprisingly rapid growth of African economies and consumer markets.
Volkswagen continues to drive forward with the regionalization of the global automotive business. The brand is planning to start production of the Polo Vivo in Kenya at the end of 2016.
Nigeria has the potential to become the hub of Africa’s automotive industry. Home to an estimated 170 million people, over 40 million of who are in the growing middle class, the continent’s largest economy is increasingly seen as an attractive destination for investors across all sectors.
As growth in China slows after two decades of breakneck economic development, Western companies are increasingly turning towards India and Africa as the next great untapped opportunities.
In March 2015, Anambra was ranked the most transparent and accountable state in Nigeria, complying with all the set standards in public sector accounting, according to the International Public Sector Accounting Standards (IPSAS).
Rwanda’s transformation from the peak of its political crisis culminating in the 1994 conflict until now is remarkable. Though the country is frequently held up as a model for rapid development by politicians and development policymakers, its trajectory and political culture are unique.
South Africa is in talks with five vehicle manufacturers about a proposed new assembly plant in the port city of East London, a potential boost for an industry that’s using government incentives to attract investment from companies including Ford Motor Co. and BMW AG.
Dangote Cement, Africa’s largest cement producer which is controlled by Nigerian billionaire Aliko Dangote, on Sunday began the construction of a new $1 billion cement factory in Okpella, Edo state, in Nigeria’s southern region.
Olam aims to cement its wheat milling stature in Nigeria. The agribusiness company is stepping up its wheat milling business in Nigeria as it invests $150 million in the country.
The world in 2016 is very challenging; energy prices have collapsed, China’s economy has slowed; political instability is amok in the Middle East; ISIS wages open war; Russia has resumed its colonial ambitions and Europe is struggling to survive the difference in economic cultural attitudes between the North and South, compounded by the influx of migrants.
A construction boom in Kenya has fueled a rise in commercial truck sales for market leader General Motors, which is investing $7.9 million in 2016 to upgrade its assembly plant in Nairobi and more than double output, a senior executive said on Thursday.
Ford Motor Co. will invest 2.5 billion rand ($167 million) in the U.S. automaker’s South African operations to start production of the Everest sport utility vehicle and create about 1,200 jobs.
UAE investors have been urged to follow in the footsteps of the Majid Al Futtaim Group and the Landmark Group by pursuing property opportunities in East Africa.
AfricInvest, a leading pan-African mid-cap-focused private equity firm, has invested in Silafrica Plastics and Packaging International Limited (“Silafrica”), the leading East African plastics and packaging group with operations in Tanzania, Kenya, Ethiopia, Uganda and India.
We are seeing inquiries from a number of public and private sector entities representing a wide variety of sectors, including financials, agriculture, infrastructure and hospitality, to name a few.
In late 2013, the administration of then-President Goodluck Jonathan made a bold bet: that it could jumpstart the country’s ailing automotive industry through a comprehensive—and controversial— industrial policy, known as the National Automotive Industry Development Plan (NAIDP).
Nigeria plans to raise the portion of local manufacturing in the automotive industry to 80 percent by 2023 as Africa’s most populous country seeks to cut imports and diversify the economy away from oil, the industry regulator said.
New data from PricewaterhouseCoopers (PwC) predicts that Nigeria can become a leading automotive hub in Africa by 2050 with an increase in local production and an expansion in new car markets.
Whether its Starbucks opening its first coffee store in sub-Saharan Africa next year, or fast-fashion retailer, H&M, opening its first African store in Cape Town, multinationals are lining up to cash in on the vast opportunities in Africa’s growing consumer goods market.
The BMW Group today reaffirmed its long term commitment to South Africa by announcing that it will invest a total of R6 billion at its Rosslyn Plant in Pretoria in the coming years.
Access to African markets is a key driver in the planned mega-merger of brewing giants SAB Miller and AB InBev, according to industry insiders.
Standard Bank Group has opened a representative office in Ethiopia.
The Lagos Deep Offshore Logistics Base (LADOL) is a 100-hectare free zone and logistics hub for multinational industrial and offshore enterprises.
Dow Chemical Co plans to triple its revenue from sub-Saharan Africa in the next five years and is investing in offices, local staff and manufacturing plants on the continent to meet that target, its head of the region said.
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.
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.
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.
Volkswagen AG, which is seeking to become the world’s largest automaker by 2018, is investing more than 4.5 billion rand ($340 million) in South Africa for new products and infrastructure.
The Africa Competitiveness Report 2015 comes out at an auspicious moment for the continent. Africa’s solid average growth rate of more than 5 percent over the past 15 years bears witness to the region’s impressive economic potential.
The Central Bank of Nigeria (CBN) has welcomed a decision by national banks not to accept foreign currency cash deposits in a bid to bolster the country’s currency.
Mojeed Jamiu is cutting jobs and raising prices to prevent his furniture and clothing store in Lagos from closing after Central Bank of Nigeria Governor Godwin Emefiele restricted foreign currency supply for some imports.
From milk churning in Zimbabwe to rose growing in Ethiopia, private equity investments in Africa have returned to pre-crisis levels and should keep rising as funds seek bumper returns in far-flung markets.
General Electric Co. booked $2.5 billion of orders from sub-Saharan Africa in the past 11 months, including oil and gas equipment for Eni SpA in Ghana and locomotives for Angola.