Your 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
🎦 Asante Culture and Heritage Lecture at the British Museum
📸 Africa’s Current Longest-Serving Leaders as of 2023
🎦 “Africa’s Relationship with China is One-Sided”
Africa
📰 Hyprop Exits Nigeria and Ghana to Lango
By the time that Attacq and Hyprop sold the malls last week, the four properties carried a value of ~$179 million, 44.4% less than the total original construction cost of ~$322 million. Selling at $60 million, net of debt, and in shares rather than cash… Read More
[videos for subscribers only]
📰 Southern Africa PE Fundraising Activity Surges to a 13-Year High
59% of these funds were raised from investors outside of South Africa – an encouraging indicator of the industry’s growing attractiveness to the international investment community and yet another indicator of an industry in rapid recovery after a three-year, post-pandemic downturn. Along this vein, European and US investors made up 45% and 22% of investments from outside South Africa respectively.… Read More
📰 UAE Honoring Pledge to Invest $500 Million in Kenya
When it comes to tapping the UAE’s vast wealth, few people matter as much as Sheikh Tahnoon bin Zayed, who is known as the “$1.5 trillion man.” Last month, Kenya signed a preliminary agreement with the UAE to develop the country’s first data center powered by geothermal energy. The 1-gigawatt facility will be built by Kenya’s EcoCloud and the UAE’s G42… Read More
🎦 Asante Culture and Heritage Lecture at the British Museum
[videos for subscribers only]
📰 US Injects $81 Million Into Senegal’s Hospitality Industry
The DFC provided the capital in the form of a loan over 17 years at a 6& rate and a four-year grace period. The Marriott hotel to be built is expected to assist in attracting more tourists… Read More
📰 Ghana Will Experience a Broad-Based Recovery in 2025 Following its Formal Exit From Default
Ghana to formally exit default by the end of Q3 2024, allowing it to regain access to global credit markets for the first time since late 2022. FrontierView forecasts the cedi to average 14.1:USD in 2024 and 14.7:USD in 2025.… Read More
📸 Africa’s Current Longest-Serving Leaders as of 2023
📰 South Africa Gold Miner to Buy Canadian Miner for $1.6 Billion
The gold deposit is among the largest gold deposits in Canada. The site is expected to produce around 300,000 ounces of gold a year, a significant boost to Gold Field’s total production last year of 2.3 million ounces… Read More
📰 Privately-Run Water Companies Come to the Rescue in SA
SA’s water problem has the makings of a national catastrophe unless urgent action is taken. Two privately-run water concessions, one in KwaZulu-Natal and the other in Mpumalanga, offer a glimmer of hope for the country.… Read More
🎦 “Africa’s Relationship with China is One-Sided”
[videos for subscribers only]
📰 American PE Firm Acquires Stake in South African-Founded SYSPRO
American private equity firm Advent International has entered into a definitive agreement to acquire a majority ownership stake in SYSPRO, a global ERP software provider for the manufacturing and distribution industries.… Read More
📰 South African REIT Acquiring Shares in Property Portfolio in Poland
South African REIT Emira Property Fund Ltd has entered into a series of agreements with DL Invest Group 1 SCSP of Poland, and its wholly-owned subsidiary DL Invest Group S.A, to acquire an effective 25% interest in the issued shares of DL Invest.… Read More
📰 Kenyan Carmaker Mobius Finds New Owner
Last week we reported the carmaker was closing, now it seems Mobius has accepted a takeover bid from an undisclosed buyer to avoid voluntary liquidation. .… Read More
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