Our curated selection of weekly Africa business and investment headlines.
Welcome to Africa Vantage, the Africa business and investment section of the Emerging Real Estate Digest—your insider's guide to investing and doing business on the African continent. Stay informed about the Lobito Corridor with our "Thoughts on the Corridor" section, and keep up with general business trends across Africa through "Africa Vantage."
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Headlines
🎦 Nigerian Exchange CEO Announces Measures to Streamline IPOs and Rights Issues
📖 Read: Accelerated Industrial Development for Africa & the African Continental Free Trade Area
📸 The DRC Produces 74% of Global Cobalt and Holds 50% of World’s Reserves
Africa
📰 Africa’s Richest Man Says He Doesn’t Own a Home Outside Nigeria
Nigeria’s rich elite are known for their opulent lifestyles and luxury homes in Dubai, Atalanta, Dallas, and London. “The reason I don’t have a London or America house is solely because I wanted to focus on industrialization in Nigeria… Nigerians need to be re-oriented to understand owning several mansions is not an achievement when the money would be needed elsewhere.”…Read More
[videos for subscribers only]
📰 South Africa Ranked 7th Globally in Coal Production
South Africa leads the continent in coal production, with an output of 248,300,000 cubic meters. Coal-fired stations provide reliable and cost-effective energy sources…Read More
📰 Zambia to Build Rare Coal Power Plant as Harsh Drought Hits Dams
The 300 MW plant, owned by Indian firm Nava Ltd., will be built in southern Zambia and double the capacity of an existing plant (i.e., Maamba Collieries). Energy delivery issues have slashed Zambia’s growth outlook to 2.3% the year. 85% of the nation’s electricity comes from hydro turbines… Read More
📰 Helios Invests in African MMA League
Helios Sports & Entertainment Group (HSEG) has made the investment, valuing the company at ca. $1 billion, and will hold a stake in the promotion, of which MMA superstar Francis Ngannou will serve as chairman…Read More
📰 Lobito Atlantic Railway Receives its First Vessel at the Port of Lobito Mineral Terminal
the bulk cargo vessel docked on July 12 and was loaded with 40,500 tonnes of sulpher…Read More
📰 Nigeria’s Access Bank Secures $295 Million to Provide SME Commercial Loans
The syndication was led by the Dutch Entrepreneurial Development Bank (“FMO”), with further capital from British International Investment (“BII”), Belgian Investment Company for Developing Countries (“BIO”) BlueOrchard, FinDev Canada, Finnfund, Norfund, Oikocredit, and Swedfund… Read More
📰 Angola-Zambia Road Project to Boost Trade and Economy in Eastern Angola
The project involves constructing an approximately 800-kilometer road from Lobito (Benguela) to Luau (Moxico) on the Angolan side. It will bolster the Lobito Corridor providing improved access to the rail network being expanded… Read More
📰 Ethiopia Issues Directive Clearing the Way for Nation’s First Stock Exchange
The directive was issued on July 16 and clears the way for hte licensing of the Ethiopian Securities Exchange (“ESX”), the first securities exchange in Ethiopia…Read More
📰 Africa’s Office Market Recovers, Demand for Grade A Offices Rise
Kenya’s office occupancy rate now stands at 77 per cent, mirroring a recovery wave hitting other markets in Africa. In its biennial 2024/25 Africa Report, Knight Frank puts recovery across the continent at 75 per cent from 60 per cent in 2022..… Read More
📰 African Outpost Namibia Gets Ready to Become New Oil Hotspot
Since the start of 2022, multiple wells drilled have hit oil around 80% of the time – a nearly unprecedented success rate. The economy is set to double or triple as soon as 2027… Read More
📖 Read: Accelerated Industrial Development for Africa & the African Continental Free Trade Area
[downloads for subscribers only]
🎦 Nigerian Exchange CEO Announces Measures to Streamline IPOs and Rights Issues
“Last week, I had the honour of leading NGX Group in launching NGXInvest, a revolutionary e-offering platform designed to streamline Public Offerings and Rights Issues in the Nigerian capital market.”…Read More
[videos for subscribers only]
📰 Namibia Gets Ready to Become the World’s Newest Oil Hotspot
Guaranty Trust Holding Company (GTCO) is raising NGN 400 billion ($253 million), Access Holdings Plc, parent of Access Bank Plc Nigeria’s biggest bank by assets, targets NGN 351bn ($222m) and FBNHoldings Plc, parent of Fidelity Bank, aims for NGN 127bn ($82m).… Read More
📰 Zambian Pension Fund Switches Focus From Malls to Infrastructure
The fund is named NAPSA, with $2.2 billion under management. Zambia saw a surge in mall development over the past decade in its major centers, including those that the state-run pension fund built. The nation in 2020 became Africa’s first pandemic-era sovereign defaulter, fanning currency depreciation that’s pushed up the price of imported goods sold by retailers..… Read More
📸 The DRC Produces 74% of Global Cobalt and Holds 50% of World’s Reserves
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