Weekly Roundup | 10.29.2024
Your curated selection of weekly Africa business and investment headlines.
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Headlines
Private Equity Fees Fall to Lowest Level on the Back of Tough Fund Raising
MTN Nigeria CFO Warns of Shutdown Without Tariff Increase
📸 Sub-Saharan African Economies Have Had a Rough Decade
Taiwan Rejects South African Demand to Move its Representative Office From Capital
📸 U.S. Senate Takes Issue With South Africa’s “Bullying” of Taiwan
Standard Bank Africa Trade Barometer 2024 Results
📖 [DOWNLOAD] 2024 Zambia Mining Report (pwc)
Africa Looks to a New Wave of Privatization
📸 Ranking of the World’s Major Cities by Size of SWFs
IFC Commits $25 Million to Acumen’s Energy Fund
JPMorgan Opens Offices in Kenya, Ivory Coast in Africa Expansion
🎦 Africa’s Largest Solar Farm
Africa
📰 Private Equity Fees Fall to Lowest Level on the Back of Tough Fund Raising
In the past two years, PE firms have struggled to sell out of their investments. The usual exit routes of stock market IPOs and industry dealmaking have been limited by higher interest rates, disagreements about valuations & general economic uncertainty… Read More
📰 MTN Nigeria CFO Warns of Shutdown Without Tariff Increase
“There should be no delusion; if the tariff doesn’t go up, we will shut down,” Karl Olutokun Toriola, CEO of MTN Nigeria, said during a tour of MTN’s facilities by Fellows of the Media Innovation Programme in Ibeju-Lekki, Lagos.… Read More
📸 Sub-Saharan African Economies Have Had a Rough Decade
📰 Taiwan Rejects South African Demand to Move its Representative Office From Capital
In 2017, Nigeria ordered Taiwan’s liaison office to move from the administrative capital of Abuja to the commercial center of Lagos and Taiwan complied… Read More
📸 U.S. Senate Takes Issue With South Africa’s “Bullying” of Taiwan
📰 Standard Bank Africa Trade Barometer 2024 Results
Tanzania (moving from 8th to 4th ranking), Mozambique (4 to 3), Nigeria (6 to 5) and Zambia (9 to 8) recording improvements in their positions, while declines were recorded for Ghana (3 to 7), Uganda (7 to 9) and Kenya (5 to 6). South Africa, Namibia and Angola retained their rankings, at positions 1, 2 and 10, respectively..… Read More
📖 [DOWNLOAD] 2024 Zambia Mining Report (pwc)
The report focuses on policy changes that have been implemented over the years and their impact on the sector, as well as the ambitious plans to ramp up copper production to three million tonnes per annum by 2031… Read More
📰 Africa Looks to a New Wave of Privatization
IMF findings are that 40% of Africa’s SOEs are unprofitable, which is one reason why six of Africa’s ten largest economies are exploring routes to privatize… Read More
📸 Ranking of the World’s Major Cities by Size of SWFs
Abu Dhabi tops the list with its Sovereign Wealth Fund (“SWF”) holding $1.7 trillion… Read More
📰 IFC Commits $25 Million to Acumen’s Energy Fund
Acumen’s H2R Fund is aimed at supporting off-grid solar companies operating across 16 countries with low electrification rates. The fund focuses on Pay-as-you-Go (PayGo) solar businesses… Read More
📰 JPMorgan Opens Offices in Kenya, Ivory Coast in Africa Expansion
The biggest US bank has hired Sailepu Montet, a former central banker in Kenya to run its business in the East African nation, the company said in a response to questions. Michael Ahonzo Avou will run JPMorgan’s business in Ivory Coast, the bank said… Read More
🎦 Africa’s Largest Solar Farm
The $4 billion Benban Solar Park spans 14 square miles, is visible from space, and located in Egypt. It was completed in 2019 and consists of 41 individual plants with a capacity of 1.8 gigawatts, enough to power hundreds of thousands of homes.