Incredible growth of Kenya’s beer market

Africa Brief: Somalia Coast surveyed for oil and gas and more…

Africa, world on Metair’s list

Metair, the listed automotive component maker and distributor, plans to establish a manufacturing footprint in Africa before pushing ahead with its strategy of transforming itself into a global manufacturer. Currently the group only exports products into Africa but aims to expand manufacturing capacity into the continent. Once this has been achieved, Metair will be able to move to the next phase of its strategy which is to be a global manufacturer by having a presence on each of the major continents.

Excerpt from: Africa, world on Metair’s list by Roy Cokayne published by The Star Business Report on 27/03/2014

Mergers and Acquisitions: Africa now the playground for new investment

Africa is increasingly becoming a favoured destination for private equity players in the mergers and acquisitions market, according to Nick Matthews, Partner and Head: Mergers and Acquisitions South Africa for KPMG, He suspects we will start to see more activity in the private equity sector than we have seen over the past two years.” Nick feels the mining sector will continue to struggle. Many of the major mining companies are cutting back on capital expenditure, and cutting back on buying junior mining companies. Matthews feels the coal sector will lead to some meaningful mergers and acquisitions to fill the expectation gap of what Eskom will need in the future and what the coal industry can supply. He believes that the telecommunications sector is maturing, but feels financial services as an area where there is likely to be strong growth.

For the full story read, Mergers and Acquisitions: Africa now the playground for new investment by David Jackson published by Business Day on 27/03/2014

Somalia: Coast surveyed for oil and gas

Offshore oil and gas surveys are taking place in hopes that this will attract new explorers such as Royal Dutch Shell. It plans to hold a licensing tender next year once Soma Oil and Gas, funded by Russian billionaire Alexander Djaparidze, has completed the seismic study.

For the full story, read Somalia: Coast surveyed for oil and gas by Bloomberg published by The Star Business Report on 27/03/2014

Nigeria: Dangote’s sales of cement surge

Nigeria’s largest company Dangote cement company’s sales have increased greatly. Expansion plans are in place to increase total cement capacity to more than 60 million tons by 2016.

For the full story read Nigeria: Dangote’s sales of cement surge by Bloomberg published by The Star Business Report on 27/03/2014

Democratic Republic of Congo: Economy must diversify

The Democratic Republic of Congo (DRC) had to diversify its economy as copper prices fell this is due to reduced demand of the resource in China. Prime Minister Augustin Matata Ponyo says the nation’s main business group is mining revenue, therefore the nation is dependent on natural resources.

For the full story, read Democratic Republic of Congo: Economy must diversify by Bloomberg published by The Star Business Report on 27/03/2014

Nigeria to loosen grip on transport

Nigeria, in order to help reduce dependence on crude oil and to attract investments in freight rail to move grain and limestone, have decided to limit the states control on its transport industry. Currently freight is mostly transported on worn out and congested roads, this has resulted in a drop in freight rail capacity. These transport Laws have been implemented to diminish the reliance placed in its oil industry.

For the full story, read Nigeria to loosen grip on transport by Elisha Bala-Gbogbo published by The Star Business Report on 27/03/2014

Nigeria likely to have biggest GDP in Africa

The revision of historical of Nigerian gross domestic product is likely to show that the economy is 20 percent to 40 percent larger than current estimates, overtaking South Africa as Africa’s largest economy. This symbolic development highlights South Africa’s relatively slower economic growth compared to other countries on the continent.

Excerpt from Nigeria likely to have biggest GDP in Africa by Claire Bisseker published by The Star Business on 31/03/2014

Zambia lifts rates to tame inflation

Zambia’s central banks raised its interest rates for a second consecutive meeting in order to combat a declining currency and stem inflation. The lending rate was increased to a record high of 12 percent from 10.25 percent. Inflation is rampant due to government curbing subsidies on maize and fuel. The weakening currency – having declined 11 percent against the dollar this year – have made imports considerably more costly, increasing risks of inflation. The rate increase is likely to combat inflation only in the short term as the government’s policy remains “far too loose.” Furthermore, slower growth in China would also affect Zambia’s copper market and place further pressure on its currency.

For the full story, read Zambia lifts rates to tame inflation by Mathew Hill published by The Star Business on 31/03/2014

GSK plans to invest £130m in Africa drug factories

Drug manufacturer GlaxoSmithKline (GSK) plans to invest up to £130m on the African continent over the next 5 years, as chronic diseases such as heart and lung diseases, diabetes and cancer become more common. These chronic diseases are expected to account for 46 percent of all deaths in sub-Saharan Africa by 2030, compared to 28 percent in 2008. GSK has significant African expansion plans: to expand manufacturing in Nigeria and Kenya by building up to 5 factories; by creating the world’s first open-access research and development laboratory for chronic diseases in Africa, both of which are expected to create 500 jobs in Africa, a significant increase from the current number of 1 500 employees.

For the full story, read GSK plans to invest £130m in Africa drug factories by Ben Hirschler published by Business Day on 01/04/2014

Dis-Chem continues expansion, with Namibia in its sights

Family-owned beauty and health retailer Dis-Chem has expanded operations internationally for the first time by opening a store in Namibia. In addition to the 50 South African stores it has opened over the past 5 years, it has opened a further 10 this year locally, highlighting its strategy of growth and expansion. Dis-Chem offers a wide variety of services and does not target any individual income group. Although its footprint is smaller than that of its rival, Clicks, it offers a greater variety of services and products, and is expanding its stores from smaller centres into upmarket shopping centres.

For the full story, read Dis-Chem continues expansion, with Namibia in its sights by Nompumelelo Magwaza published by The Star Business Report on 01/04/2014.

Libya :French bank sued for ‘bribes’

French Bank Societe Generale has paid about $58m, or R614m, to a friend of the Gaddafi family in order to secure investments. The Libyan investment Authority found that the payments had no real purpose and has resulted in a $1.5bn lawsuit.

For the full story, read LIBYA :French bank sued for ‘bribes’ by Bloomberg  published by The Star Business Report on 01/04/2014

Tanzania: Fitch, Moody’s ratings sought

Tanzania has sought to secure a rating from Fitch Ratings and Moody’s Investors Service in the next 3 months, ahead of its debut Eurobond, expected to launch in the 2014/2015 year.

For the full story, read Tanzania: Fitch, Moody’s ratings sought by Reuters  published by The Star Business Report on 01/04/2014

David Okwara

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