Africa’s first fuel cell component plant using platinum as a catalyst will start production by December aiming to take advantage of rising demand for clean energy cars.
“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.
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).
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.
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.
Olam International Ltd., one of the world’s largest food traders, is hunting for more investments in Africa as it looks to benefit from the continent’s increasing appetite for everything from instant noodles to lollipops.
Nigerian billionaire Abdulsamad Rabiu’s conglomerate BUA Group is in talks with China’s Sinoma to build a steel plant in Nigeria and two cement plants in East Africa for $1.9 billion.
Nigeria is aiming to hand over the $4.5 billion Ajaokuta steel complex to private operators this year as part of a plan to kick start its industrial and mining industries, Kayode Fayemi, the country’s minister of Solid Minerals Development, said.
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.
A look into one of the wealthiest men on the planet, and what we can learn from his story.
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.
BUA Group, a Nigerian industrial conglomerate owned by Abdulsamad Rabiu, one of Nigeria’s wealthiest men, has signed $600 million worth of contracts with Sinoma International Engineering Co.
Aliko Dangote, Africa’s richest man, is considering investments in Zimbabwe’s cement, power generation and coal-mining industries as part of an expansion in the southern African nation.
A Chinese state-owned engineering company has signed a deal worth $4.3bn (£2.8bn) to build factories for a Nigerian cement company run by Africa’s richest man, Aliko Dangote.
Africa’s cement wars are heating up. Dangote Cement, owned by Africa’s richest man, Nigerian billionaire Aliko Dangote, has revealed its agreement with a Chinese construction company to build cement plants in 11 countries.
Africa’s richest man is pushing to dominate its market for cement, the material at the heart of the continent’s infrastructure boom.
Aliko Dangote, Africa’s richest man, said he plans to double capacity at his cement company to 80 million metric tons a year as the company expands outside its home market of Nigeria.
Dangote Group is one of Africa’s leading industrial conglomerates, with interests in everything from cement to food. Yet one of the most promising ventures, in the eyes of founder, president, and CEO Aliko Dangote, is to develop Nigeria’s natural-gas sector into an export industry.
In many ways private equity – with its combination of capital and management expertise – is a perfect fit for Africa. As the scale of Africa’s potential has become recognised among the investment community, private equity has provided an opportunity for those who want to both contribute to, and benefit from, Africa’s growth story.
Africa’s richest man, Aliko Dangote, plans to list Dangote Cement on the London Stock Exchange sometime before the end of 2016. Aliko Dangote is the Chairman of Dangote Group, one of Africa’s largest conglomerates.
The recent lack of growth in the developed markets coupled with perceived improvements in political and macroeconomic stability, policy certainty, and legal systems in many African countries, as well as Africa’s growing middle class and rise in consumption is leading to increasing interest by foreign companies and institutions in Africa as an investment destination.
British oil producer Afren Plc said the UK Takeover Panel extended the deadline for Nigeria’s Seplat Petroleum Development Co to make a firm offer or walk away.
Don’t underestimate how important Africa has become to the global economy. Across the continent, including Sub-Saharan Africa, business and infrastructure projects are booming, prompting comparisons with China 20 to 30 years ago.
Research done on investor attitudes shows that African markets are expected to be a significantly greater recipient of global capital than they have been in the past, and that African fund managers, both listed and private, will have to comply with the expected global standards in order to benefit from this shift.
When OPEC signaled that it would not put the brakes on oil production in late November, crude’s price plunged. The drop has caused particular hardship in some African countries while proving to be a boon in others.
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.
You’ve probably heard by now about the Afropolitans and the Afropreneurs — but what about the Africapitalists?
Africa is often talked about as a region on the rise, but that narrative is complicated by a trend towards fast rising sovereign debt and deficits, according to ratings agency Standard & Poor’s (S&P).
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.
Shareholders in Lafarge Wapco , the Nigerian unit of French cement maker Lafarge , on Wednesday approved a $1.35 billion deal combining its Nigerian businesses with Lafarge’s wholly-owned South African subsidiary.
With a market capitalization of 4.1T Naira ($25.3B), Dangote Cement is the largest company traded on the Nigerian Stock Exchange (NSE).
The Abraaj Group has invested over $2B in Africa. Why is the continent so appealing to investors?
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.
South Africa’s economy contracted in the first quarter for the first time since a 2009 recession as the longest mining strike in the nation’s history cut output.