Public Investment Corporation (PIC) News

Jes Staley, CEO, Barclays

Barclays to surrender control of Africa unit with £1.6bn sale

Barclays has been given regulatory approval for the sale of its remaining stake in its Barclays Africa Group, according to a unit of the business.

Maria Ramos, CEO, Barclays Africa

Barclays Africa 'divorce settlement' is not a sale deal: Maria Ramos, CEO, Barclays Africa

The British bank’s sell-down of its majority stake in its African subsidiary is still some way off.

Steinhoff-Shoprite merger talks collapse as sides fail to agree on terms

Steinhoff-Shoprite merger talks collapse as sides fail to agree on terms (Infographic)

A successful deal would have created Africa’s biggest retailer. Shares of both companies jump as news ends antitrust concerns over deal.

Arif Naqvi, Group CEO, Abraaj Group. Credit: Bloomberg

Private equity firm Abraaj is interested in buying Barclays Africa (Infographics & Video)

Abraaj Group, the private equity firm that invests across emerging markets, is interested in buying a stake in Barclays Plc’s South African business.

The checkout at Shoprite, Africa's biggest food retailer, in a shopping center in Warri, a fast-growing city in Nigeria's oil-producing region. Credit: nytimes.com

Shoprite & Steinhoff plot massive merger

Retail giants Shoprite and Steinhoff plan to merge to form what will indisputably be one of Africa’s largest retail businesses.

Africa's largest pension fund PIC is looking to increase stake in Barclays Africa

Africa's largest pension fund PIC seeks central bank approval to increase Barclays Africa stake

Africa’s biggest pension fund, Public Investment Corporation, has sought approval from South Africa’s central bank to raise its stake in Barclays Africa.

Kuben Naidoo, Deputy Governor, South African Reserve Bank

As Bob Diamond readies Barclays Africa bid, South Africa warns on bank buyouts

South Africa raised caution over Bob Diamond’s potential offer for Barclays Plc’s local unit, with the central bank signaling that private-equity bidders for the country’s third-largest lender would face opposition from regulators.

Dan Matjila, CEO, Public Investment Corporation (PIC)

South Africa's PIC in talks with Barclays on African business stake

South Africa’s state pension fund is talking to Barclays Plc about buying some of the stake which the British bank is selling in its African business, a source with direct knowledge of the matter said.

Bob Diamond, CEO of Atlas Mara and former CEO of Barclays. Credit: altassets.net

Barclays' former CEO Bob Diamond reportedly wants to buy the bank's African assets

Bob Diamond, the American executive who was forced out as Barclays’ CEO in 2012, is reportedly interested in buying the British bank’s African operations.

Dan Matjila, CEO, Public Investment Corporation (PIC)

Africa's largest money manager PIC interested in raising Barclays Africa stake

The Public Investment Corp., manager of the bulk of the South African government’s pension fund money, said it would be interested in increasing its stake in Barclays Africa Group Ltd.

SABMiller said to have rejected $100B offer from Anheuser-Busch InBev

SABMiller said to have rejected $100B offer from Anheuser-Busch InBev

SABMiller Plc rejected an informal takeover offer from Anheuser-Busch InBev NV of about 66.4 billion pounds ($100 billion) that it considered too low, according to people familiar with the matter.

Smile Telecoms raises $365M from African investors to expand broadband coverage across the continent

Smile Telecoms raises $365M from African investors to expand broadband coverage across the continent

Smile Telecoms plans to grow its broadband network in Africa after raising $365 million in debt and equity financing.

Convergence Partners raises $200M for largest ever fund dedicated to Africa ICT infrastructure

Convergence Partners raises $200M for largest ever fund dedicated to Africa ICT infrastructure

Convergence Partners, an investment management firm focused on the African telecommunications, media and technology sector, has announced the successful final close of its Convergence Partners Communication Infrastructure Fund (CPCIF).

Vodacom shop

South Africa sells Vodacom stake to fund Eskom in $1.9B deal

South Africa’s government has sold its 13.91% stake in mobile phone firm Vodacom to the Public Investment Corporation to raise 23 billion rand ($1.9 billion) in funding for power utility Eskom, the Treasury said on Wednesday.

Pedestrians pass a Vodacom mobile phone store in Johannesburg. Photographer: Waldo Swiegers/Bloomberg

Africa's Biggest Fund Manager Said to Explore Vodacom Deal

The Public Investment Corp., Africa’s biggest money manager, is considering increasing its stake in Vodacom Group Ltd. by buying government-owned shares in the wireless operator, people familiar with the plans said.

Solar power plant

Africa's largest money manager to invest in $1.8B solar energy plants in South Africa

The Public Investment Corp., Africa’s biggest money manager, invested in two South African solar-power plants worth 22 billion rand ($1.8 billion) to help boost energy supplies in the continent’s second-biggest economy.

Solar Power Plant

Abengoa closes $660M in financing for South Africa solar power plant

Abengoa SA, an energy and environment company based in Spain, closed $660 million in project financing for a solar power plant in South Africa.

Royal Gardens Mall, Lekki, Lagos, Nigeria

Five private equity funds targeting real estate investments in Nigeria (Photos)

Africa focused Private Equity (PE) has developed impressively over the last two decades, in terms of volume, quality of transactions, and performance.

Nedbank

Nedbank exercises option to buy 20% of Ecobank for $500M as Qatar National Bank builds stake

Nedbank Group Ltd. (NED), the South African lender controlled by Old Mutual Plc, has agreed to buy 20 percent of Ecobank Transnational Inc. (ETI), even after the Lome, Togo-based company sold a stake to a Qatari bank.

Qatar National Bank (QNB)

Qatar National Bank (QNB) buys stock in Ecobank for 2nd time this month becoming top shareholder

Qatar National Bank SAQ, the Middle East’s biggest lender by market value, bought stock in Togo-based Ecobank Transnational Inc. (ETI) for the second time this month to become its top shareholder with a 23.5 percent stake.

Ecobank

Qatar National Bank Expands in Africa With $230M Ecobank Deal

Qatar National Bank QSC, the largest Arab bank, acquired a 12.5 percent stake in Lome, Togo-based Ecobank Transnational Inc. (ETI), marking its first acquisition in sub-Saharan Africa.

Aliko Dangote, CEO, Dangote Group

Africa's richest man Aliko Dangote sells $300M minority stake in cement firm to Dubai sovereign wealth fund

Africa’s richest man Aliko Dangote is selling a stake in his cement company to a sovereign wealth fund owned by the government of Dubai, United Arab Emirates.

Elias Masilela, Outoing CEO of South Africa's Public Investment Corporation (PIC)

Elias Masilela, outgoing CEO of Africa's Biggest Fund Manager, South Africa's PIC, to Join DaMina as Senior Adviser

Elias Masilela, who resigned last month as the chief executive officer of South Africa’s Public Investment Corp., Africa’s biggest fund manager, has joined DaMina Advisors, a frontier-markets consultancy.

Bloomberg African Business Weekly

Bloomberg African Business Weekly: Afreximbank, PTA Bank, South African Private Equity, Powering Rwanda, & Agriculture in Gabon (Video)

Afreximbank, PTA Bank, South African Private Equity, Powering Rwanda, & Agriculture in Gabon

Elias Masilela, former CEO of South Africa's Public Investment Corporation (PIC)

Elias Masilela, CEO of South Africa's Public Investment Corporation, Resigns

Elias Masilela resigned as the chief executive officer of South Africa’s Public Investment Corp., Africa’s biggest fund manager and the largest shareholder on the Johannesburg stock exchange.