Rand Merchant Bank (RMB) News

Africa's best-performing hedge fund launches food-focused private equity fund

Africa's best-performing hedge fund launches food-focused private equity fund

Polar Star targets agriculture as food demand outstrips supply. Commodity hedge fund beats peers over five-year period.

Endeavor-led consortium to build Ghana power station

Endeavor-led consortium to build $552M Ghana power station

A consortium led by Africa-focused power producer Endeavor Energy began building a $552 million, 200-megawatt power plant in Ghana on Wednesday, it said in a statement.

The case for South African hedge funds

The case for South African hedge funds: Jaclyn Petrone, Director of International Business Development, Laurium Capital

Over the years as international investors have searched for yield and found themselves looking towards Africa, many have invested with a long-term mindset focused on private and public equity strategies.

The Naira weakened 20% to a record low of 206.32 per dollar in the year through Feb. 12

JPMorgan to remove Nigeria from emerging market bond indexes

JPMorgan Chase & Co. has excluded Nigeria from its local-currency emerging market bond indexes tracked by more than $200 billion of funds, after restrictions on foreign-exchange transactions prompted investor concerns about a shortage of liquidity.

Nigeria’s new president Muhammadu Buhari

A new Nigerian government increases opportunities for the private sector

The swearing in of Nigeria’s new president Muhammadu Buhari last week has led to renewed optimism regarding economic progress in the country and new opportunities for the private sector, particularly in infrastructure development, consumer and financial services sectors.

Sub-Saharan Africa offers some respite from global bond tempest.

African Debt Offers Some Respite as Bond Rout Sweeps Globe

Sub-Saharan Africa is weathering the global bond tempest better than most. Seven of nine sub-Saharan African nations have outperformed the Bloomberg Emerging-Market Sovereign Bond Index since April 15.

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.

South Africa's Brait to pay $1B for control of Richard Branson co-owned Virgin Active, in biggest M&A deal from Africa so far this year.

South Africa's Brait to pay $1B for control of Richard Branson co-owned Virgin Active, in biggest M&A deal from Africa so far this year

South African investment house Brait SE (BATJ.J) is to pay 682 million pounds ($1 billion) for a controlling stake in gym group Virgin Active, Brait said on Thursday, seeking to tap the growing health-conscious middle classes particularly in Africa and Asia.

AutoZone

Ethos Private Equity acquires South African auto parts retailer AutoZone

Ethos Private Equity Ltd. bought a controlling stake in South African closely held automotive-parts retailer AutoZone, the fourth investment through its 7.9 billion-rand ($682 million) Fund VI.

Sim Shagaya, Founder & CEO of Konga and DealDey

Building Konga, Africa's Alibaba: Sim Shagaya (Part One)

Chatting with Simdul Shagaya is like an intense, super-charged colloquy on doing business….in Africa.

Chris de Kock, CEO of FirstRand's WesBank unit

South Africa's FirstRand to offer vehicle finance in Nigeria

FirstRand Ltd. (FSR), Africa’s largest bank by market value, is to offer vehicle finance in Nigeria as the Johannesburg-based lender targets growth in the continent’s biggest economy.

Celeste Fauconnier, Africa Macro Strategist, Rand Merchant Bank (RMB)

Nigeria Offers Best Opportunity for African Retail: Rand Merchant Bank (RMB)

Nigeria, Egypt and Ethiopia offer some of the best opportunities for retailers looking to invest in Africa, Rand Merchant Bank said.

Alexander Forbes, Sandton, South Africa

South Africa's Alexander Forbes raises $345M in IPO

South African pension manager Alexander Forbes on Friday priced its initial public offering at the middle of its planned range on Friday, raising 3.7 billion rand ($345 million) ahead of its return to the Johannesburg exchange.

Ghana Power Plant

FirstRand Unit to Fund $120 Million of Ghana’s Kpone Power Plant

South Africa’s FirstRand Ltd. (FSR) said its investment banking unit will finance as much as $120 million of Ghana’s $820 million Kpone power plant as lenders seek to benefit from African infrastructure projects.

Julio Portalatin, CEO, Mercer

Marsh & McLennan to Buy 34% of Alexander Forbes of South Africa

Marsh & McLennan Cos (MMC) will buy a 34 percent stake in South Africa‘s Alexander Forbes Ltd. (AFB) as Africa’s largest independent pension-fund manager prepares to sell shares on the Johannesburg Stock Exchange next month.

Cyril Ramaphosa

Cyril Ramaphosa Said to Swap Banks for Burgers as He Takes Office

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.