Weekly Roundup | 07.02.2024
Our 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
Zambia’s Central Bank Plans to Criminalize Foreign Currency Use Amid Kwacha Rally
Mozambique - Zambia Trade Soars to $116 Million From $22 Million in 2018
Africa Experiencing a Spate of Private Equity Exits
📷 African Population Density Heatmap
South Africa’s Eskom Wants an Increase in Electricity Tariffs of up to 44% Next Year
Eos Capital Invests Undisclosed Amount in Namibia Poultry Business
🎦 Kenya President Backs Down on Tax Hikes After Deadly Unrest
🎦 Senegal Starts Producing Oil as President Promises Benefits
Lobito Corridor Energized By $150 Million AFC Loan for Kamoa-Kakula Expansion
🎦 Life Story of Africa’s All-Time Most Valuable Export
📷 South Africa Loses With Remittances Outflows to Africa But Gains With Advanced Western Economies
Africa
📰 Zambia’s Central Bank Plans to Criminalize Foreign Currency Use Amid Kwacha Rally
the Bank of Zambia announced plans to criminalize the use of foreign currency in domestic transactions. This decision comes amid the strongest rally in the Zambian kwacha in four months, reflecting an effort to address currency volatility that has plagued the nation for years....… Read More
📰 Mozambique - Zambia Trade Soars to $116 Million From $22 Million in 2018
This boost in trade is a result of collaborative efforts to harness critical mineral resources and improve trade volumes, as emphasized by Mozambican President Filipe Nyusi during his visit to Zambia.… Read More
📰 Africa Experiencing a Spate of Private Equity Exits
Africa’s muted exit environment has long been a challenge for private equity investors. However, judging by the high number of exits announced recently, PE firms are indeed finding buyers for their investments, even though many of these sales were to other fund managers.… Read More
📷 African Population Density Heatmap
📰 South Africa’s Eskom Wants an Increase in Electricity Tariffs of up to 44% Next Year
Beyond mismanagement, Eskom said further weakening its financial situation and operational strength is its response to the effects and aftermath of State Capture as well as criminality, in the form of fraud, corruption, theft and sabotage.… Read More
📰 Eos Capital Invests in Namibia Poultry Business
Namibia currently imports between 2,000 to 2,500 tonnes of poultry meat monthly, highlighting a substantial gap in local production.… Read More
🎦 Kenya President Backs Down on Tax Hikes After Deadly Unrest
The move will be seen as a major victory for a week-old, youth-led protest movement that grew from online condemnations of tax rises into mass rallies demanding a political overhaul, in the most serious crisis of Ruto's two-year-old presidency…
🎦 Senegal Starts Producing Oil as President Promises Benefits
Senegal’s President Bassirou Diomaye Faye promises the profits will be “well managed” as the Sangomar deep-water project comes online. Australia’s Woodside Energy is in charge and the project aims to produce 100,000 barrels of oil per day. The president recently paid a visit to Sangomar.… Read More
📰 Lobito Corridor Energized By $150 Million AFC Loan for Kamoa-Kakula Expansion
The Africa Finance Corporation (AFC) granted a $150 million loan to expand the Kamoa-Kakula Copper Complex, the largest and most important mine along the Lobito Corridor. By Q4 2024, it aims to be the world's third-largest copper mine, producing 600,000 tonnes annually.… Read More
🎦 Life Story of Africa’s All-Time Most Valuable Export
📰 Africa Loses 20,000 Millionaires in 10 Years as the Wealthy Flee the Continent—or Stay and Watch Their Riches Melt Away
There are now just 135,200 individuals with wealth of $1 million or more, an 8% decline from 2013, according to a report by Henley & Partners. Along with the continent’s 342 centi-millionaires and 21 billionaires, those individuals have total wealth of $2.5 trillion, the consultancy found… Read More
📰 Why Strong Regional Value Chains Will be Vital to the Next Chapter of China and Africa’s Economic Relationship
China has become Africa’s largest trading partner and creditor in recent years under programmes such as the Belt and Road Initiative. Now, China-Africa economic relations are entering a new chapter as both face a global economic slowdown.… Read More
📰 Vantage Capital Provides $47.5 Million of Mezzanine Funding for Centrum’s Two Rivers International Finance and Innovation Centre
The business park, known as Two Rivers International & Innovation Centre, is a unique services-oriented business park situated within Nairobi's diplomatic blue zone. This investment is aimed at facilitating the acquisition and renovation of a 14,975 sqm office tower, as well as the development of two Grade A office towers with a combined gross leasable area of 76,800 sqm… Read More
📷 South Africa Loses With Remittance Outflows to Africa But Gains With Advanced Western Economies
