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Week commencing 23 March
Leriba has produced a briefing on elections scheduled for four countries during 2015: Nigeria, Tanzania, Guinea and Sudan. Three of them are set to be competitive with opposition parties ready to make a strong showing.
Leriba March 20
The Dubai-based pan-African conglomerate Mara Group, with interests in financial services, property, infrastructure, manufacturing and agriculture, will soon unveil a partnership with a global multinational for a large venture to invest in infrastructure across sub-Saharan and north Africa. Founder Ashish Thakkar says the joint venture will invest in new and existing projects with a focus on power generation. Another new venture hopes to capitalise on growing interest in online shopping with the launch of an e-commerce platform across 25 countries, based in Kenya.
Financial Times March 20
Hotel group Sun International plans to acquire 100% of the Peermont Group following the conclusion of definitive agreements between the two parties. Peermont operates a portfolio of gaming and hospitality businesses, including its flagship Emperors Palace casino resort in Johannesburg, three standalone hotels and one standalone casino.
CNBC Africa 20 March
Two new solar plants are to be built in the Northern Cape with SA’s state investment company, the Public Investment Corporation (PIC), buying a 20% stake in each. It will also provide debt funding for both totalling R600m. The Ilangalethu and Xina power stations are expected to contribute a combined 200MW to the national electricity grid.
Business Day 18 March
Power utility Eskom appoints ABB South Africa to execute the control and instrumentation contract for the Kusile power station, effective 17 April, after terminating its contract with Alstom S&E. The news comes a day after the power utility had its long-term local and foreign currency ratings lowered by ratings agency Standard & Poor’s.
CNBC Africa 20 March
Budweiser, one of the world’s biggest beer companies, has confirmed plans to enter the highly contested Kenyan beer market in a fortnight. Viva Global, a major beer distributing company in east Africa, will be the official importers and suppliers of the American beer. Over the past two years, Viva has conducted trials in the market ahead of Budweiser’s official launch.
Ventures Africa March 20
The Nigerian Gas Company may soon go up for public ownership if the House of Representative’s plan to list 30% of the company on the Nigerian Stock Exchange receives the president’s blessings. The Petroleum Industry Bill is expected to be passed by Parliament before May 31.
Ventures Africa March 17
President Abdel-Fattah el-Sisi’s bid to revive Egypt’s economy received a boost at a three-day investor conference on the Red Sea. Saudi Arabia, the United Arab Emirates, Kuwait and Oman pledged more than $12bn, half of it as deposits in the central bank. Gulf Co-operation Council (GCC) investors also signed initial deals to invest in industries ranging from construction to power generation and energy. UAE companies, including Abu Dhabi-owned Aabar Investments PJSC, are taking the lead on projects to build two cities, one of which is to become Egypt’s new administrative capital.
Business Day 17 March