Author: Cedric Tossa

Johannesburg, April 5, 2024 – Enko Capital Managers (“ECM”), managers of the Enko Africa Private Equity Fund (“EAPEF”), a private equity investor targeting mid-cap growth companies across Africa, is pleased to announce that it has successfully exited its investment in Madison Financial Services Plc Zambia (“Madison” or the “Company”), a leading insurance and microfinance financial...

South Sudan Oil Minister Ezekiel Lol Gatkuoth Visited Abdallah Mubarak Al-Khalifa, Acting CEO of the Qatar National Bank (QNB) in Doha, to discuss the need for continued recovery efforts oilfield production. “Qatar is a friend of Southern Sudan, and Qatar National Bank in particular, has been a true partner in our early years of independence. We look forward to continuing this relationship as our prospects improve and our economy grows, “he said. Indeed, the country has resumed production on oil fields including Unity in 2019 and aims to increase oil production to 500,000 barrels per day. He wanted the bank’s…

Equity Bank, a Kenyan banking group, announced Tuesday, March 26, a pre-tax profit of 28.5 billion shillings, the equivalent of 282.74 million USD in 2018, an increase of 6% over 2017. This increase is mainly driven by the increase in interest income. James Mwangi, the bank’s chief executive, said at a news conference that “this is the type of resilient growth we are seeking to overcome the slowdown in private sector credit growth.” Loans to customers amounted to 297.2 billion shillings in the past year, compared with 279.1 billion shillings in 2017, while deposits grew by 13 percent to 422.8…

In a report released on March 16, 2019, the African Venture Capital and Venture Capital Association (AVCA) reports that private equity firms in Africa invest $ 3.5 billion in 2018, against 3.9 billion in 2017. This amount brings the total value of investments made by them made on the continent between 2013 and 2018, to 25.7 billion USD. The figures are down $ 0.4 billion year-on-year. The companies concerned carried out 186 transactions compared to 171 in 2017, bringing the transactions to 1,022 between 2013 and 2018. The divestiture of participations to industrial buyers (trade buyers) represents 39% of the…

Benin is preparing for the launch of a bond issue on the international debt market. The operation will be, for the country, the first incursion on the bond markets outside the WAEMU zone. According to information, Cotonou will try to mobilize more than 9,000 billion CFA francs, the equivalent of 13.8 billion euros for the implementation of its action program. The precise amount of the transaction is not yet known, but it will be denominated in euros and will have a maximum maturity of 8 years, according to sources quoted by the press. With a GDP debt ratio estimated at…

It is an investment estimated at 100 million USD that the Dutch group Heineken announced to have realized to have its first brewery in Mozambique. The infrastructure was inaugurated this Wednesday, March 13 in the province of Maputo, between the districts of Marracuene and Manhiça. With a production capacity of 0.8 million hectoliters, the structure already has 200 employees, 96% of whom are Mozambicans. “We strongly believe in Mozambique’s potential. The population is young and dynamic, and increasingly urbanized, the middle class is growing, the economic prospects are encouraging and the beer market has great potential for growth, “commented Jean-François…

In Zimbabwe, the Hwange Thermal Power Plant was funded by India for USD 333 million. This line of credit will be used to increase the capacity and lifespan of the infrastructure and to rehabilitate the Bulawayo infrastructure. In the details, the upgrades are expected to increase the life of the Hwange power plant from approximately 15 to 20 years. The increase in capacity will cost $ 310 million. The remaining 23 million will allow the rehabilitation of the Bulawayo power station, the country’s second largest city. Note that last December, Zimbabwe released $ 199 million in funding for the extension…

Absa Bank, the 3rd largest banking group on the African continent, announced that it had made a profit of R16.13 billion for the year 2018, or about 993 million euros. Compared with 2017, this figure represents a 3% increase. The loan loss ratio went from 0.87% to 0.73%, and turnover increased by 4% to R75.66 billion. All indicators have enabled the bank to announce to its shareholders dividends up 4% over the year 2017, at 11.10 rand per share. Note that the British Barclays has withdrawn from Absa Bank, which has not been without consequences on its indicators. The historical…

To raise 80 million USD and finance its development projects, the Angolan government has ceded to private, seven public companies in the industrial area of ​​Lunada-Bengo. In fact, Gilberto Luther, the director of the Angolan State Asset Management Institute (IGAPE), announced last week the privatization of these companies belonging to the 52 industrial units installed in the Luanda-Beng Special Economic Zone. . They should be sold for between $ 3 million and $ 18 million each, depending on the value of the assets sold. It should be noted that the privatization should be done through a public call for tender…

Immorente Invest, a Moroccan firm specializing in the management of real estate assets for rental, plans acquisitions ranging from 150 to 200 million dirhams during this year 2019. Indeed, during the previous year, the firm managed to mobilize 400 million dirhams on the stock market and invested nearly 179 million. Its net profit rose from 5.5 billion dirhams at the end of 2017 to 14.2 billion dirhams at the end of 2018, according to figures presented by the first stone-paper vehicle listed on the Casablanca Stock Exchange. “By 2019, we should acquire real estate assets to expand our fleet for…

The South African firm InvestSure will benefit from an investment of 9.6 million rand mobilized by 4Di Capital of Lireas Holdings and Compass Insure, two subsidiaries of the insurance company Hannover Re Africa. This funding will allow the firm to expand its investor protection services on the stock market and also infiltrate new markets. According to Anton van Vlaanderen, a partner at 4Di Capital, “InvestSure has developed a unique, up-to-date and relevant offer on the market. This investment confirms our commitment to innovation in the insurance industry. ” 4Di Capital is a venture capital firm focused on high-growth technology companies.

The Emerging Africa Infrastructure Fund (EAIF) provided a USD 27 million loan to Kikagati Power Company, a Ugandan company specializing in the energy sector. This investment vehicle is managed by South African Investec Asset Management, which operates in the United Kingdom and South Africa. According to information, this loan will finance the construction of a hydroelectric plant in a border of Uganda and Tanzania, and will be repaid over a period of 16 years. Created in 1991, the South African Investec Asset Management provides services to investment companies, group investment vehicles, pension and profit-sharing plans, charities, national and municipal government…

Small businesses set up by Africans will receive 50 million rand, or about 3.6 million USD from Spartan SME Finance, a South African firm. These funds will strengthen the capital and short-term financing needs of these SMEs. “It is essential to make available the financial resources that will contribute to the sustainability and growth of South African small and medium-sized enterprises,” said Spartan SME Finance CEO Kumaran Padayachee, whose structure did not reveal the interest rate and the repayment period of these credits. Since its inception in 1981, Spartan SME Finance is headquartered in Johannesburg, and provides IT leasing solutions…

A total of 68 Moroccan startups benefited from the financing of the Innov Invest fund for a value of 46.3 million dirhams, or approximately 4.8 million between October 2017 and March 2019 according to a statement from the Central Guarantee Fund (CCG). Nearly 92% of these companies obtained pre-start-up and seed funding amounting to 12.3 million dirhams. The remaining 34 million were allocated as venture capital to six innovative startups. Launched in October 2017, the Innov Invest fund aims to fund at least 300 innovative projects by 2022. In July 2018, a total of 12 startups benefited from 3 million…

National Bank of Egypt Vice President Yehia Abul Fotouh announced last week that the bank plans to finance infrastructure projects worth 180 billion Egyptian pounds, or about 10 billion USD between 2019 and 2021. This funding will cover loans to companies operating in the petroleum, electricity and mega-projects sectors. “The total portfolio of financing dedicated to infrastructure projects has reached 400 billion Egyptian pounds, and we aim to increase this volume to 580 billion by 2021,” said Yehia Abul Fotouh at a conference Press. Founded in June 1898, the National Bank of Egypt is the oldest and largest bank in…

Nigerian company Quantum Capital Partners raised $ 5.5 million for TeamApt, a provider of payment solutions. This funding will allow the development of new financial products and the launch of a banking application called AptPay. The recipient company claims monthly transactions in the order of USD 160 million, and a car park consisting of 26 African banks. Tosin Eniolorunda, CEO of TeamApt, said the company plans to “develop more services for businesses. We are also planning to strengthen our operations in Nigeria and parts of Europe. ” Private equity company founded by millionaire and Nigerian banker Jim Ovia, Quantum Capital…

Mali benefited from a 52 billion FCFA envelope from the World Bank under an agreement signed last week on the country’s electricity sector. These funds will enable the Malian authorities to guarantee electricity lighting in the most remote areas of the country. They are made up of 30 billion CFA francs in loans and 17 billion in donations, and will enable the construction of 400 distribution stations in Kayes, Manantali, Kita, and Kati, and about 3,800 km of medium voltage lines. high voltage.

In South Africa, the insurer Discovery plans to launch its banking business towards the end of May 2019. This step will be the result of a total investment of 6 billion rand, equivalent to 434 million USD made by the company. Listed on the Johannesburg Stock Exchange (JSE), Discovery Limited is a financial services group based in South Africa. He is active in the areas of short-term and long-term insurance, asset management, savings, investments and benefits through his various brands. It should be noted that the group has subsidiaries in South Africa, the United Kingdom, the United States, China, Singapore…

Development Partners International (DPI), a London-based private equity firm, has launched its second fund called African Development Partners II for a $ 35 million investment in the capital of International Facilities Services (IFS). According to the information, these resources will help finance IFS ‘growth strategy in new markets while strengthening its short-term cash requirements. “Development Partners International will participate in the next growth phase of our group, while allowing us to continue the expansion of our business. This investment in our strategy and our people will enable us to continue to provide services to our customers, “commented IFS General Manager…

Foreign currency deposits in Nigerian commercial banks reached 5,542 billion naira, equivalent to 15.3 billion USD at the end of December 2018. According to the rating agency Moody’s, this increase “will boost liquidity and foreign currency financing in the perspective of future bond repayments and the occurrence of possible external shocks”. It is 27% compared to the end of 2017 when foreign currency deposits were 11 billion USD. The record level was reached in November 2014 ($ 25 billion). In addition, Moody’s believes that the positive effect of growth in foreign currency deposits only partially mitigates the risks associated with…

The International Finance Corporation (IFC) has announced it will grant a $ 15 million credit line to Telecom Comores (Telco SA), a Comoros-based telecom operator. This investment will enable further development in the telecommunications sector in the country and the entire East Africa region by strengthening Telco SA’s mobile communication and internet connection infrastructure. “IFC financing will enable us to compete by improving our communications services to industries and financial technology companies,” said Stéphane Teyssedre, the company’s chief executive officer.

According to Benin’s chief tax officer, Nicolas Yenoussi, the state will halve the corporate dividend tax by 2019. This measure aims to stimulate investment in the country. Thus, foreign investors will be taxed on their dividends only a tax of 5%, against 10% formerly in force. According to Mr. Yenoussi, this progressive tax exemption aims to “encourage foreign investors to intervene in our local businesses”. Recall that the Minister of Economy and Finance had published at the end of January, a decision to remove the declaration of existence of newly created businesses at the tax center.

Ivory Coast has retained 33,002 billion FCFA on the financial market of the West African Economic and Monetary Union (UEMOA) following its issue by auction of treasury equivalent bonds (BAT) on 12 February 2019. The first economy of the subregion mobilized, in all, 35.510 billion global bids, resulting in a rejection of 2.508 billion. The weighted average rate of return on the transaction was 6.10% while the marginal interest rate was 5.80%. As a reminder, the country had tendered an amount of 35 billion.

MCC Acting Executive Director Cynthia Huger and Togo’s Minister of Economy and Finance Sani Yaya on Thursday signed a US $ 35 million grant agreement in Lome Threshold of Togo. “We have noticed that Togo has made significant progress in recent years in the field of Tics and land. We come with this donation agreement to encourage it to do more, “said the US representative. The goal is to reward the Togolese government in these efforts to improve in the areas of Information and Communication Technologies (ICT) and land. “The two areas covered by the Threshold program or the threshold…

The AfDB representative in Gabon, Robert Masumbuko, announced on February 12, 2019 that the institution has granted an envelope of 77 billion CFA francs to the country to rehabilitate 300 km of pipes of the drinking water network of Libreville and its periphery . This project will allow people to have access to more drinking water in the capital and its surroundings. It will also have to increase the rate of access to drinking water from 25 to 85% in rural areas and from 45 to 95% in urban areas. “There is a need for drinking water; this is why…

Ivory Coast will seek to mobilize, this year, 1,429 billion FCFA on the capital markets according to an announcement made by the General Directorate of the Treasury and public accounting during a seminar balance sheet and prospects. This amount to be solicited by Abidjan will be intended to cover part of a global financing requirement of 2 416.9 billion FCFA. The country is counting on its success of 2018 to succeed this new challenge. In particular, he managed to raise CFAF 1,174 billion on the capital market between January and March 2018. “We do not have the right to stop…

In its report of activities published on February 12, 2019, the National Airline Company of Cameroon (CAMAIR-CO) declares having achieved a turnover of 26.6 billion FCFA during the year 2018. The restructuring process of the Cameroon airline company has just reached a new level, with the increase of more than 40% of its turnover in the space of one year. Indeed, the activities of this dying company just a few years ago, it results in an increase of 10 billion FCFA compared to the previous year when the cumulative turnover was 16.4 billion CFA. This significant turnaround is a general…

According to the Treasury and Public Accounting Department of Côte d’Ivoire, the country’s banking sector recorded a balance sheet total of 12,000 billion CFA francs at 31 December 2018, an increase of 14% year-on-year. “As of December 31, 2018, the banking sector had a balance sheet total of more than 12,000 billion FCFA, an increase of 14% compared to 2017. A total employment of 11,257 billion FCFA, or 16% increase, with 7 107 billion CFA francs of credits to the economy, “the source said in a briefing note. It should be noted that Côte d’Ivoire’s banking market is the largest…

The Franco-Cameroonian Volunteer Skills Platform (PCFCV) and the Debt Reduction and Development Contract (C2D) for a technical and financial partnership signed in Yaoundé on February 1, 2019, a new contract worth CFAF 161 million to mobilize volunteers for the cancellation and reconversion programs of the country’s debt vis-à-vis France. It is a partnership that extends until 2021, and which should help to “offer C2D programs, forms of expertise and voluntary types of different types that can be mobilized, individually or in pairs, in the aim of strengthening the implementation and impact of Cameroon’s debt cancellation and conversion programs vis-à-vis France…

Agri-Vie Fund II has acquired a 36.5% stake in Jumbo Brands, an agribusiness firm in South Africa. Indeed, the investment fund is supported in this acquisition by the private equity branch of South African Sanlam, which is one of the main contributors. “The long-term growth potential of the consumer goods sector, its defensive nature, its exit potential and the possibility of moving businesses to the regional level, augur well for a good investment opportunity,” he said. April Stassen, the fund manager. Agri-Vie Fund II is a strategically focused sub-Saharan African food and agribusiness investment fund that aims to create businesses…