Every week, we review the best Africa-related business and finance news across the web and deliver to you the top 10 pieces of the week!
Week of April 20
Carlyle Betting on African Consumer GrowthDue to higher disposable incomes and substantial growth in consumer spending, Carlyle managing director and co-head of sub-Saharan Africa, Marlon Chigwende, believes that there are great opportunities for investment in consumer-driven industries not only in Nigeria but throughout sub-Saharan Africa.
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Source: Reuters Africa
Foreign Cash Inflows Sustain Steady Growth in ConstructionDespite rising interest rates, Kenya’s rapidly expanding real estate market continues to grow, due to an influx of foreign credit. Developers throughout Kenya have been able to continue construction on a wide variety of projects that will benefit the local economy in the years to come.
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Source: Business Daily Africa - Kenya
Ghana Signs $1 Billion Loan with China for Natural Gas ProjectCo-development of a massive new natural gas project has begun between Ghana National Gas Co. and China Petroleum & Chemical Corp., enabled through the signing of the largest lending agreement in Ghana’s history. This project is expected to provide hundreds of thousands of jobs for the local population.
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Investec Asset Management Targets Africa’s RiseIn the next five years, Investec Asset Management is aiming to grow its assets under management across Africa by 28 percent to $45 billion. Investec is hoping to double its assets under management on the continent, excluding South Africa, to $6 billion in the same period. Read More »
SABMiller Eyes $2.5 Billion Investment in AfricaBrewing giant SABMiller intends on investing up to $2.5 billion dollars in Africa over the next five years. SABMiller’s Africa business is its fastest growing, with underlying volumes up 11 percent in the last three months of 2011. Read More »
Source: African Business Review - South Africa
Africa's Richest Billionaire To Lead $7 Billion Investment In Nigerian Power, Petrochemical And MiningAliko Dangote stated his intention to invest in the infrastructure and emerging sectors of his home country over the next four years, including in the upcoming construction of a 2,000 megawatt power-generation facility. These investments will be added to the billionaire’s company and primary asset in Nigeria, Dangote Cement. Read More »
Doing Business in East Africa: Burundi Makes Big Progress in Improving Business ClimateA report by the World Bank and International Finance Corporation has stated that Burundi is among the top 10 most improved economies of 2010-2011, in terms of ease of conducting business. This is due to regulation streamlining that allows faster and easier company incorporation, as well as other sweeping reforms. Read More »
Source: The East African - Kenya
Actis Targets $300 Million a Year in Africa DealsActis, the prominent emerging markets private equity firm, looks to invest $300 million annually in Africa. The firm seeks individual investments of $50 million in each deal, thereby requiring the firm to focus on investment opportunities in the continent’s largest economies: South Africa, Egypt, and Nigeria. Read More »
Source: Business Day - Nigeria
Developer Speaks about Trends in Kenyan Property MarketDinfin Mulupi, the executive director of Kenya's Hello Properties, recently won a Bloomberg African Property award for a lifestyle resort his company built. He utilizes his personal experience to discuss trends in the rapidly expanding Kenyan property market, which recorded the greatest global price increase in luxury real estate in 2011. Read More »
Source: How We Made It in Africa - South Africa
SA Immigration Rules May Be Eased to Attract Engineers for Infrastructure PushSouth Africa's economic development minister Ebrahim Patel recently stated that the government would relax immigration restrictions on technical professionals, in order to facilitate the massive expansion in energy, water, and transportation infrastructure that will be implemented over the coming years. Read More »
Source: Engineering News - South Africa