Famous Brands, the owner of brands such as Debonairs and Steers, has ambitious expansion plans for oil-rich African countries such as Nigeria, Ghana and Angola.

Africa Brief: Famous Brands hatches ambitious Africa plans and more…

Ebola derails Nigerian firm

Dangote Cement had delayed expansion in Sierra Leone due to the Ebola virus outbreak in the country.

Companies have slowed investment in Sierra Leone, Guinea and Liberia, the three countries most affected by the Ebola outbreak that has killed about 5 000 people in West Africa.

by Bloomberg published in The Star, Business Report on 06/11/2014

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Famous Brands hatches ambitious Africa plans

Famous Brands, the owner of brands such as Debonairs and Steers, has ambitious expansion plans for oil-rich African countries such as Nigeria, Ghana and Angola.

The Economist Intelligence Unit predicts that by 2030, Africa’s top 18 cities could have a combined spending power of $1.3-trillion. With a R10.9bn mar­ket capitalisation, Famous Brands is the big daddy of SA franchising and wants to replicate its local success in the rest of Africa. The company aims to have 400 restaurants outside SA by 2016.

To take advantage of growing demand for fast food in the Nigeria, the deal with Lagos-based UAC Restaurants, which owns Mr Bigg’s, was signed in September last year. Mr Bigg’s is the largest home­grown African food franchise brand north of SA.

by Zeenat Moorad published in Business Day on 06/11/2014

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Nigeria’s cheap banking assets attract interest

Lenders from London to Qatar are hunting for African banks to buy. No market is attracting more interest than Nige­ria, where 35 million adults keep their cash at home. There are still massive op­portunities when it comes to consumers, because lots of Nigerian banks haven’t even cracked the ice yet.

Nigeria, boasting the conti­nent’s largest population at about 170 million, has drawn in­vestment from Bob Diamond’s Atlas Mara Co-Nvest and Qatar National Bank as economic growth in the West African country outstrips that of na­tions in eastern and southern Africa. Even so, valuations on banking assets are some of the cheapest on the continent as regulators force banks to re­duce fees and increase capital.

by Renee Bonorchis published in The Star, Business Report on 06/11/2014

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Several African acquisitions on radar

Financial services advisory firm Alexander Forbes was considering potential acquisitions in several African countries including Ghana and Tanzania, chief executive Edward Kieswetter said yesterday.

The company is now looking to re-enter Tanzania and Malawi and is also eyeing Ghana, all English-speaking countries.

by Reuters published in The Star, Business Report on 06/11/2014

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Zambia’s acting leader reverses decision to fire ruling party chief

Zambian Acting President Guy Scott backed down yesterday after his attempt to sack the ruling party chief sparked riots and a rejection of his authority as a white leader in Africa. Mr Scott reversed his decision on Monday to sack Patriotic Front (PF) secretary-general Edgar Lungu —just days after the death of president Michael Sata.

Mr Lungu, who is at the centre of a succession battle after Sata’s death, had accused Mr Scott of insulting Zambian culture while the country was mourning the president and declared his sacking illegal and provocative. Mr Scott, Africa’s first white head of state since apartheid, was previously the vice-president and is due to guide the copper-rich southern African nation to elec­tions within 90 days.

Mr Lungu would remain in place at least until after Sata’s burial on November ll and “the central committee of the PF will then be convened”, Mr Scott said on state radio.

by Staff Reporter published in Business Day on 05/11/2014

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Tanzania’s oil bosses arrested

Top officials at Tanzania’s state-owned oil agency were arrested this week on charges of failing to release to parliament oil and gas contracts the government signed with foreign and local investors.

The arrests bring to a head a simmering row over whether Tanzania is getting a fair deal for its new-found natural resources.

by Reuters published in The Star, Business Report on 05/11/2014

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Forum meets on migration in Africa

THE world’s migrants and refugees come under focus at the University of Johannesburg on December 5-8 in the first ever World Social Forum on Migra­tion in Africa.

The theme is migration in the heart of our humanity: defending our freedom and rethinking mobility, development and globalisation.

Excerpt from Forum meets on migration in Africa, published in The New Age on 05/11/2014

About Femi Oke

Relentless passion for creativity and digital acumen to help a professional services firm thrive in the digital space. Femi is an individual with a rich experience on regional African knowledge, its diverse business culture and he understands the continent’s economic drive. He thrives on selfless service and lasting mutually beneficial relationships with colleagues and especially clients encountered in the course of his duties. He is creative, practical and self-motivated with business judgement in corporate, brand and strategic communications, social, digital & traditional media and executive profiling. Roles in the firm include New Media, Digital Communication, Corporate Communication, executive profiling and Brand Management execution. Working on the multi-million dollar Africa high growth market project stands out for femi; besides this, managing all KPMG’s digital communication for the World Economic Forum on Africa is another project that gives him great delight. Femi holds a Masters Degree in Global Marketing from the University of Liverpool.

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