PricewaterhouseCoopers (PwC) News

Africa property offers rich pickings for the brave

Africa property offers rich pickings for the brave

Some property pundits believe there are major opportunities for investors or companies on the continent.

Abraaj Group to buy African coffee chain Java House

Abraaj Group to buy African coffee chain Java House

Abraaj Group, an emerging markets focused fund group, has agreed to buy African coffee chain Java House from private equity rival Emerging Capital Partners and Kevin Ashley, the Nairobi-based company’s executive chairman.

Johannesburg, South Africa

Rent is cheap in Johannesburg but expensive in Lagos, according to new study

People flocking to South Africa’s economic hub are likely to find some of the world’s cheapest rents.

Chevrolet Volt

Chevy Volt's designer, Jelani Aliyu, has been appointed boss of Nigeria's automobile agency (Infographic)

Nigeria’s government has long talked about diversifying its oil-dependent economy but it’s actions have not always matched the bluster.

Carole Wamuyu Wainaina, incoming COO, Africa50 Infrastructure Fund

Carole Wamuyu Wainaina is Named Chief Operating Officer for Africa50

Africa50, the pan-African infrastructure investment platform capitalized by the African Development Bank, 23 African countries, and two African Central Banks, has appointed Carole Wamuyu Wainaina as Chief Operating Officer.

Wizkid signed with Sony Music last year

Sony Music seeks Nigeria streaming growth to build on ringback market

Sony Music Entertainment sees big growth prospects for music streaming in Nigeria, thanks to falling internet data costs and a large, growing population, a senior executive told Reuters.

Africa's banker of tomorrow

Armed with fintech and fueled by data: Africa's banker of tomorrow

Markets in Shanghai closed up today on news that the Chinese bullet train manufacturer Fujian Corp won the contract to connect Casablanca to Abidjan.

Will he cash in on Africa's real estate boom?

Will he cash in on Africa's real estate boom?

You’ve heard it before: Africa, the new investment frontier! Risky, but high reward potential, the mantra goes of emerging markets — particularly in Africa, home to 13 of the 20 fastest-growing economies in the world.

A visitor takes photographs from the Ou Kaapse Weg as seasonal fog covers the city of Cape Town. Almost 7,000 visas were issued by the South African embassy in the UAE for the first seven months of this year. Credit: thenational.ae/Mike Hutchings/Reuters

Hotel developers will invest billions of dollars in African projects over the next few years

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.

Yemi Alade

The boom in Africa's music industry continues

Demand for homegrown contemporary music is sweeping Africa and driving a creative boom in the continent’s thriving music industry.

Green White Green (Movie)

Nollywood: Nigeria stands out at the Toronto International Film Festival

Nigerian filmmakers, producers and actors are hoping a spotlight on Lagos at this year’s Toronto International Film Festival (TIFF) will open Nollywood up to the world.

Buffalo Mall, Naivasha, Kenya

East Africa's second-tier cities hold untapped potential

Retail in Kenya is dominated by informal sellers, but recent years have seen a boom in modern trade, with home-grown supermarket chains expanding their footprint and international brands (such as Carrefour and Massmart’s Game banner) entering the market.

Tony Allen

Lagos calling: Tony Allen opens up Nigeria's music scene

If you want a city that’s a modern musical powerhouse, you don’t need to think of London or Los Angeles or New York.

Nissan Pathfinder: Nissan is one of a handful of vehicle manufacturers now assembling automobiles in Nigeria

Nigeria will be Africa's next automotive hub (Report): PwC

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.

The Landmark Centre, Lagos, Nigeria

Vantage Capital commits $20 million to leading Nigerian property development company Landmark Africa

Vantage Capital, Africa’s largest mezzanine fund manager, announced on Wednesday that it has committed $20 million to Landmark Africa, one of Nigeria’s leading property developers.

Africa Capital Markets Watch 2015: PwC

African Capital Markets Watch 2015 (Report & Infographic): PwC

PwC’s 2015 Africa Capital Markets Watch provides an analysis of African equity and debt capital markets transactions that took place between 2011 – 2015. It also highlights the trends in African capital markets in 2015 which reflected strong figures.

The IVM G5 by Innoson Vehicle Manufacturing (IVM)

Nigeria's automotive industry shifts into high gear

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).

Nairobi is the most attractive city in Africa for foreign investment, says PwC.

Africa's big cities are investment bright spots, says private equity firms Abraaj and Actis

Like most emerging and frontier markets around the world, Africa’s largest economies have been affected by the drop in commodity prices over the past 18 months.

Budget savvy: Yemi Osinbajo, Nigeria’s Vice President, is curbing spending.

Overhaul of Nigeria's government agencies aims to end excess

As well as being a professor of law, Nigeria’s new vice-president Yemi Osinbajo is a Christian pastor who preached at the same Evangelical church in Lagos as the new trade, investment and industry minister, Okechukwu Enelamah.

Mark Essien (Left), Founder of Hotels.ng

Nigerian travel startup Hotels.ng wants to conquer Africa (Video)

PricewaterhouseCoopers (PwC) projects Nigeria‘s hospitality market will grow signficantly in the next five years. Online hotel booking portals are benefiting. Among such portals is hotels.ng.

Entertainment and Media Outlook - South Africa, Nigeria & Kenya (2015 - 2019) - PwC

Entertainment and Media Outlook - South Africa, Nigeria & Kenya (2015 - 2019): PwC (Report)

South Africa’s entertainment and media (E&M) market continues its run of double-digit year-on-year growth, recording an 11.5% rise to reach R112.7 billion in 2014.

Nigeria should look forward to automobile boom, says PwC (Reuters/Monica Mark)

In 35 years, Nigeria could be the automotive capital of Africa

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.

Kemi Adeosun, Nigeria's new finance minister, during the cabinet swearing-in ceremony in Abuja this month

Nigeria's finance minister makes non-oil revenues top priority

Nigeria’s new finance minister said raising non-oil revenues was her top priority, as the slump in oil prices continues to take its toll on Africa’s biggest crude exporter.

Kemi Adeosun, Nigeria's Minister of Finance

Nigeria's Buhari Picks Ex-Banker Adeosun as Finance Minister

Nigerian President Muhammadu Buhari appointed former investment banker Kemi Adeosun as finance minister as he swore in his cabinet on Wednesday, more than seven months after he won the election that ushered in the first democratic handover of power in Africa’s biggest economy.

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.

Muhammadu Buhari, President of Nigeria

Putting Nigeria to the test: Will democracy stick?

If American politics are brutal, then those in Nigeria are a blood sport. Since 1963, there have been 14 Nigerian heads of state.

A new Africa energy world - A more positive power utilities outlook - PwC

A new Africa energy world - A more positive power utilities outlook: PwC (Report)

Africa faces a huge electricity demand challenge. Existing infrastructure is insufficient to meet current requirements, let alone the growth of the coming decades. Installed power capacity is expected to rise from 2012’s 90GWto 380GW in 2040 in sub-Saharan Africa.

Africa Asset Management 2020 - PwC

Africa Asset Management 2020: PwC (Infographics & Report)

Africa presents an exciting opportunity: As wealth continues to increase, more domestic investors emerge, while improvements in regulatory frameworks are enticing foreign investment and distribution.

Lagos Internal Revenue Service Chairman Tunde Fowler. Source: Lagos Internal Revenue Service via Bloomberg

Lagos Tax Agents Turn Death Threats Into Praise as Oil Drops

Tunde Fowler used to get death threats when he began collecting levies in Nigeria’s commercial hub of Lagos 10 years ago. Today he gets hailed as Tax Muyiwa, a nickname that means “bring your tax” in the local Yoruba language.

Understanding West Africa’s Infrastructure Potential - PwC

Understanding West Africa’s Infrastructure Potential: PwC (Report)

West Africa is increasingly identified as an attractive destination for investors across all economic sectors. Its growing population of over 300 million and abundant resources continue to drive steady economic growth, as seen by a 6% average annual growth rate over the past decade.

Real estate: Building the future of Africa - PwC (Report)

Real estate: Building the future of Africa - PwC (Report)

Africa’s young population will drive the demand for real estate and different types of real estate. Across Africa there will be continued urbanisation, an expansion of current cities and the rise of new cities.

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.

Dar es Salaam, Tanzania

Africa will have faster economic growth than any other region by 2040: PwC

Savvy CEOs already recognise the economic clout Kinshasa, Johannesburg and Lagos have in Sub-Saharan Africa (SSA).

Amy Jadesimi, MD, LADOL (Lagos Deep Offshore Logistics Base)

The Changing Face Of Business In Nigeria: Amy Jadesimi, MD, LADOL (Lagos Deep Offshore Logistics Base)

Ask most people what they think of Nigeria and the answer will likely include references to oil, population and corruption.

Women hold New Look shopping bags on Oxford Street in London, February 12, 2010. REUTERS/SUZANNE PLUNKETT

South Africa's Brait buys Britain's New Look for $1.2B

African investment heavyweight Brait SE (BATJ.J) said it will pay $1.2 billion for virtually all of budget clothes retailer New Look, giving it a substantial presence in Britain’s fiercely competitive fashion retail market.

Nigeria’s President-elect Muhammadu Buhari

Buhari will release full audit on Nigerian National Petroleum Corporation (NNPC)

Nigerian President-elect Muhammadu Buhari’s administration will publish the full audit of the state oil company and expects it will need to repay the government more than previously recommended, his party’s policy director said.

Addis Ababa, Ethiopia

Ethiopia: The Addis millionaire's club

At first glance, Ethiopia would seem like a tough place for business owners to make it big. The strength of the state stands in contrast to the fledgling private sector, where foreign competition is barred in key industries and big sectors are entrusted to state-owned companies.

Cobus Visagie looks to pass the ball during Springbok training in Cape Town in 2001. Source: Touchline Photo/ALLSPORT/Getty Images

Big-tackling ex-Springbok rugby player Cobus Visagie starts Africa fund

Cobus Visagie recalls making 18 tackles the day South Africa’s national rugby team kicked its way into the World Cup record books to defeat England.

IPO Watch Africa 2014 - PwC

IPO Watch Africa 2014: PwC (Infographics & Report)

IPO Watch Africa surveys all new primary market equity IPOs and FOs in which capital was raised on Africa’s principal stock markets and market segments, as well as IPO and FO activity of African companies on international exchanges, on a yearly basis.

Private Equity in Africa - Planting Seeds

Private Equity in Africa: Planting Seeds

Scant listings and light trading volumes rank among the biggest challenges for public investors in Africa. As investors on the continent’s local stock exchanges, we believe the growing interest in private equity opportunities on the continent will lead to more IPOs and more liquid markets.

MTN appoints Suren Sooklal as Group Chief Business Risk Officer

MTN appoints Suren Sooklal as Group Chief Business Risk Officer, replacing Shauket Fakie

MTN has appointed Suren Sooklal as group chief business risk officer, replacing Shauket Fakie, who is retiring after eight years with the group.

John Oliphant, former Principal Executive Officer of South Africa’s Government Employees Pension Fund (GEPF)

John Oliphant, former head of South Africa's Government Employees Pension Fund (GEPF), starts investment firm

John Oliphant, who left as principal executive officer of South Africa’s Government Employees Pension Fund after a year-long suspension, has started Gaia Investment Partners to benefit from African infrastructure projects.