Weekly Africa Newsbriefs 23 April


A rapidly growing and urbanising middle class set to experience a consumption boom; the world’s greatest resources of as-yet-untapped agricultural land, oil, gas and countless other commodities; and a growing number of entrenched, stable democracies with increasingly sophisticated democratic institutions. Africa is the last major region in the world to offer the prospect of take-off phase economic growth, delivering world-beating returns to investors.
GDP growth rate in the decade to 2013 average in Africa; 7% expected in the next decade
of the 10 fastest growing economies in the world over the next decade will be African
of the 10 most improved economies for doing business are in Africa
Urbanisation Natural Resources
The population of Africa’s cities will triple by 2050 with over one billion people living in cities by 2040. Lagos is the largest with over 12,4 million people. Urbanisation presents opportunities for tertiary sectors like retail, telecommunications, banking and logistics. Major recent discoveries in oil, iron ore, natural gas, and other key commodities are set to provide major economic stimulus. Urbanisation in Africa and the rest of the world will drive demand for natural resources which Africa is uniquely positioned to satisfy with both new and old discoveries.


of African countries score below 50 in Transparency International's corruption perception index
African countries use International Financial Reporting Standards, others inconsistent
African countries have media sectors that are considered not free
The continent remains a difficult place to do business. The regulatory and legal structures common in much of the world are only nascent in many African countries. In rapidly changing economies, reputations are only starting to develop and information on performance histories difficult to obtain. Weak media sectors often mean that critical information relevant to potential exposures is never publicly  disseminated. Data are scarce making traditional investment analysis difficult if not impossible. The incentives facing local partners are opaque and may well be antithetical to outside investors’ interests. As in any rapidly changing environment, opportunists are aiming to exploit potential investors. Just as the opportunities in Africa are clear, the stories of investments gone wrong are sobering.


Leriba is a specialist consultancy with a unique combination of financial and political research skills. We help analyse opportunities and examine current investments for unforeseen political and financial risks. We recognise the investment
opportunities in Africa but we are pragmatic about the challenges. Our insights provide actionable information which directly pay off through better investment decisions.
Our directors have decades of experience in Africa. We work with a network of associates across the continent with support staff in London and Johannesburg
First and foremost we aim to make a positive contribution to our clients and to the societies in which we operate. Clients can have full confidence in our ethics, professionalism and discretion. Our staff are governed by a strict code of conduct and many are members of professional societies
Unlike some other consultancies, our analysts live and work in Africa and have built up substantial networks and insight. We are able to work in any of Africa’s 54 countries.
We have worked in a wide range of industries, including:
Banking, oil & gas, mining, telecoms, IT, retail, logistics, agriculture, insurance, fund management, FMCG, hotels & tourism, energy and infrastructure 

Weekly Africa Newsbriefs 23 April

Weekly newsbriefs

Weekly Africa Newsbriefs 23 April

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Leriba Africa Newsbrief


Week commencing 23 April













East Africa

NIC shareholders approve Commercial Bank merger

Shareholders of East African bank NIC Group have approved its merger with the Commercial Bank of Africa, paving the way for the two companies to create the third-biggest bank by assets in East Africa. Subject to regulatory approval, NIC expects the process to be concluded in the third quarter of 2019.

Reuters 17 April



Yalelo secures $10.5m loan facility

Dutch development bank FMO has approved a $10.5m secured loan facility for Yalelo Tilapia farm in Zambia, a sustainable aquaculture producer. FMO believes Yalelo has the potential to become a large-scale regional player by implementing world-class farming operations and a data driven scientific approach. 

Africa Global Funds 19 April


Ivory Coast

USAid leads $2m coco finance project

The US Agency for International Development (USAid) is leading a $2m finance project for women cocoa farmers in Ivory Coast. The project, announced by Ivanka Trump during a visit last week, will be supported by processors and chocolate makers such as Nestle, Barry Callebaut and Olam International.

Bloomberg 17 April



Britam approves Tiserin investment

Kenyan-based investment company Britam Holdings has approved an anchor investment in Tiserin Capital, a south-south private equity fund. Tiserin aims to transform local industries by weaving partnerships between African companies and leading companies from emerging Asia and Latin America.

Africa Global Funds 14 April