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Nairobi to test drive Kenya Power’s smart meters project

Citi pledges $2.5 billion to Power Africa






Citi, the multinational bank headquartered in Manhattan, has pledged $2.5 billion in incremental capital to fund the Power Africa initiative, which aims to bring electricity to millions in Sub-Saharan Africa.

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Using Nigeria’s oil to diversify the national economy

Using Nigeria’s oil to diversify the national economy











More attention than the usual is being given to the Nigerian economy in the wake of April’s GDP rebasing which saw the nation pip South Africa to claim top spot in Africa.

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The Factors involved in Setting Family Salaries in a Family Firm

Africa’s Top 10 Fastest Growing Economies











In the past ten years, African countries have experienced unprecedented growth rates, with seven of the top ten fastest growing economies in the world being those of key African countries this year.

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Africa Brief

Africa Brief: Fuel prices rise as subsidies cut, Mozambique tourism next big thing and more…











Cameroon has cut some of its costly fuel subsidies, a move that will please international donors calling for reforms, although similar moves have been reversed in the past due to the threat of protests against subsequent price rises.

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Investing in Kenya

Spotlight on Kenya











Kenya’s financial services industry is currently one of the fastest growing not only in the East African region but the continent with the Nairobi Securities Exchange (a financial assets and securities market) being ranked fourth in Africa.

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Venture Capital and Private Equity Industry Performance Survey of South Africa covering the 2014 calendar year

Does Rwanda’s Development Lie in Its Stock Exchange?











A main cause of economic reform is the establishment of the Rwandan Stock Exchange, and according to financial expert Marc Holtzman, the exchange could mean the uplifting of the entire area.

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Key findings from the 2014 Africa CFO Survey

The African Tax mix











Investors establishing enterprises in an African nation or nations will soon find that the tax mix throughout Africa varies greatly from country to country, with some countries relying almost solely on one type of tax, while others have a more balanced approach to taxation.

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What are the funds changing the face of private equity in Africa?

Will Nigeria be a major top player in the Emerging Markets?











Nigeria has so far managed to avoid going the same way as the “fragile five”, namely India, Indonesia, Brazil, Turkey, and South Africa, when it comes to being a prosperous emerging market.

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Africa Brief: Taste for pizza takes off in Africa and more...

Why Nigeria Delayed GDP Rebasing for Twenty-four Years











The GDP rebasing figures which will be released today is coming after a 24-year wait as the last rebasing exercise was done in 1990. Though it was meant to be done again in 2000 but was shelved due to some “strategic economic considerations”, people familiar with the strategy told THISDAY.

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Discussion with Jason Kazilimani on investment prospects in Zambia

Lunch With our Leader: A Discussion with Jason Kazilimani on investment prospects in Zambia











Jason Kazilimani, Senior Partner at KPMG Zambia, was one of our February guests on Lunch with our Leaders. We invited you to ask him any questions you might have on the topic of investing in Zambia, and Jason provided detailed and helpful responses. Here are some of the Q&As from that session …

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Tunisia

Transacting in Africa – Exporting to Tunisia











With its 2011 Arab Spring involvement done and dusted, and the global recession lessening its grip on economies, Tunisia’s imports are once again on the rise. The economic forecast however is not for plain sailing; the country’s newly elected government faces immediate challenges in terms of stabilising the economy.

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Venture Capital and Private Equity Industry Performance Survey of South Africa covering the 2014 calendar year

Private Equity in Africa: A Private Passion











As African nations march towards more formal, regulated economies, private equity is determined to play more than just a walk-on part. But there is still much to learn about doing business in this diverse region.

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Oil_3

Infrastructure regulation in Africa: Botswana











Botswana, a middle-income nation, has one of the fastest growing economies in the world today. It has enjoyed an excellent record of political stability since independence in 1966, a consistent focus on education investment has led to high education levels, and the country has one of sub-Saharan Africa’s highest investment grade sovereign credit ratings.

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Africa Brief

Africa Brief: Zambia considers $1bn eurobond to plug deficit, Renewable energy adds to CIG’s ‘robust results’ and more…











President Jacob Zuma and his Democratic Republic of Congo counterpart Joseph Kabila have signed a treaty for the construction of the $80bn Grand Inga Project during Mr Zuma’s state visit that is expected to end today.

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Africa Brief

How To Get Private Equity Exits in Africa Right











Private equity (PE) as an asset class has received reasonable prominence in Africa in recent times. New records are being set both at the levels of fund raising and sector diversity of investments. Africa is becoming increasingly investor-friendly!

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Africa Brief

The Angolan consumer story











The rise of the Angolan economy, over the past 10 years, has been nothing short of spectacular. From an economy plagued by hyperinflation and suffering from the consequences of decades of civil war in the early 2000s; today, the southern African economy is one of the fastest growing in the world and continues to attract billions of dollars in foreign investment.

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Africa Brief

Zambia: A New Frontier in Mining and Energy











On 25 July 2013, Southern Africa Zambia Chamber of Commerce and Industry (SAZACCI), in collaboration with Africa Exchange, hosted a successful Business Symposium on Zambia’s energy and mining sector, addressing the opportunities for investors. The Business symposium attracted an audience of more than 150 potential investors. It was held at the Wanooka Place Auditorium at KPMG’s Head office in Johannesburg, South Africa.

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Morocco’s solar power story is just beginning

Africa Brief: Zambia considers external auctions of emeralds, Nigeria pipeline repairs and more…











Zambia, the third-biggest emerald producer, will decide this week if it will allow stones mined in the country to be auctioned abroad, said Mines, Energy and Water Development Minister Christopher Yaluma. The government would base its decision on the success of an auction under way in the capital, Lusaka, by Gemfields’s local unit, he said in an interview yesterday at the sale.

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Africa Focus: Mozambique discovers its way to being Africa’s power house

Africa Brief: Chinese miners flee crackdown in Ghana, Mozambiquan interest rates and more…











More than 4 500 Chinese had left Ghana since a crackdown on illegal mining began last month, with the illicit industry having drawn scores of Chinese to the country an official said on Friday Ghana Immigration Services spokesman Francis Palmdeti said that between June 1 and July 3, a total of 571 Chinese had been arrested or had voluntarily turned themselves over to immigration authorities in Ghana.

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Africa Brief: Timing vital for African success, Zambian telecoms, campaign begins in divided Mali and more











Timing is crucial for both companies and investors, seen in a recent report produced by Avior. Wrong execution or timing could damage investor confidence and destroy capital. For instance, Altech operations in Nigeria and Kenya have been generating significant losses until disposal thereof in January 2013. Altech’s net cash re­sources have dwindled from Rl.6bn to a net debt position of around R800 million over the past four years. The researchers concluded that the best time to buy into a company depended on the differential between growth in South Africa and growth across its borders, as well as the extent of the company’s exposure to the rest of Africa.

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Africa’s top 5 education priorities

Zambian Tax Alert











At the end of June 2013, the Zambian Government issued Statutory Instrument 55 of the Bank of Zambia (Monitoring of Balance of Payments) Regulations, 2013. The new SI 55 came into effect on the 1st of July 2013. The regulations are applicable to a number of parties including financial service providers licensed under the Banking and Financial services act, any importer of goods or services exceeding US$20 000, foreign investors and local investors who invest outside Zambia, to name a few.

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KPMG Barometer reports continuous decrease of fraud risk











According to the Fraud Risk Barometer, the occurrence of reported fraud has decreased from 503 in the first half of 2012 to 348 cases in the second half of 2012. It is the third consecutive period where a decrease in reported fraud and corruption …

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Africa Brief: Diamond sales lift state funds, Egypt shares plummet as trade starts and more…

Africa Brief: City growth, Zimbabwe coffers, Accra for investors, and more











Accra, Ghana’s booming capital, was identified as having the highest growth potential of any city on the continent, according to the MasterCard African cities growth index, launched in Johannesburg on January 29th. The index was produced by Prof George Angelopulo of the University of SA and Prof George Roger of the University of Cape Town on behalf of MasterCard.

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Africa Brief: Delta beer sales, Kenyan oil products, Tanzanian cellular fees, and more











Zimbabwe’s Delta sees lager, premium beer sales rise – Delta Corporation partly owned by SABMiller has been projected to raise its 2013 annual profit by 31%, although the trading update shows the Chibuku sales volumes declined by 10% …

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High Growth Markets magazine – Unleashing Africa’s potential

Private Equity remains steady











SA’s private equity sector last year shrugged off the global economic uncertainty with funds under management topping a record R115bn, including uncommitted funds of more than R34bn, KPMG said yesterday.

While the sector attracted investors seeking exposure to emerging markets, an executive at KPMG said other sub-Saharan African markets besides SA were drawing global private equity funds to regional opportunities.

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Africa Conversation Series: Climate proofing Africa











World Bank Chief Economist for Africa, Shanta Devarajan, recently wrote that sub-Saharan Africa in 2011 has unprecedented opportunity for transformation, and sustained growth, and helping to ensure the right energy solutions are available to help achieve this prospect will simultaneously be good for climate protection and local development as well. Still at the threshold of a renewable energy revolution, what are some of the challenges this environment presents and what are some of the opportunities for investors? This is just some of what is discussed in this episode of the KPMG Africa Conversation Series.

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