Weekly Africa Newsbriefs 23 September

  • To receive this brief in your email every Monday, please subscribe here.

    Leriba Africa Newsbrief

     Week commencing 23 September 

     

     signature-962388_960_720

     

     

     

     

     

     

     

     

     

     

    Nigeria

    Verod acquires Metropolitan Life Nigeria

    West African private equity firm Verod Capital Management has acquired 100% of Metropolitan Life Nigeria for an undisclosed amount. The acquisition sees Momentum Metropolitan exit the Nigerian market in line with its reset and grow strategy.

    AVCA 17 September

     

    Chipper Cash expands

    Chipper Cash, a Ugandan money payment firm, has partnered with Paystack, a Nigerian fintech start-up providing payment tools to businesses across Africa. Chipper Cash is expected to leverage Paystack’s payment gateway infrastructure to provide mobile money services to and from Nigeria.

    Liquid Africa 16 September

     

    East Africa

    $6.67m investment for Africa Education Holding

    Danish SDG Investment Fund has invested $6.67m in Africa Education Holding. The investment was made in co-operation with Finnfund from Finland and Proparco from France. Africa Education Holding offers affordable programmes in labour market-relevant studies in medicine, business, IT, law and social sciences.

    Liquid Africa 18 September

     

    Kenya

    Record green investment for Kenya

    Kenya attracted a record $1.4bn investment in renewable energy last year, the third highest in the Middle East and Africa, entrenching its shift from expensive sources of electricity. A UN report that tracks global trends in energy investments showed that Kenya overtook Egypt, the UAE, Jordan and Rwanda to join the top six centres of green energy.

    Daily Nation 18 September

     

    Morocco

    Energy project receives $22m aid

    The Moroccan integration of energy efficiency project in the building sector has received $22m in financial aid from Nama Facility, an international climate finance programme that seeks to encourage “ambitious action on climate change”.

    Morocco World News 19 September

     

    Sub-Saharan Africa

    Ecopia Tech receives $6.5m

    Toronto based Ecopia Tech has received $6.5m to digitally map sub-Saharan Africa. Digital maps are used used to improve economic efficiency, help with urban planning and in monitoring the environment. Ecopia Tech aims to map an estimated 342-million buildings, 2.36-million linear miles of roads and 1.43-billion acres of forests.

    Liquid Africa 17 September

    This entry was posted in Snapshots, Weekly newsbriefs. Bookmark the permalink.

Opportunity

   
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.
5.6%
GDP growth rate in the decade to 2013 average in Africa; 7% expected in the next decade
7
of the 10 fastest growing economies in the world over the next decade will be African
4
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.
   
   

Risk

     
90%
of African countries score below 50 in Transparency International's corruption perception index
16
African countries use International Financial Reporting Standards, others inconsistent
45
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.
   

Solved

   
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.
PEOPLE OUR VALUES COUNTRIES INDUSTRIES 
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 September

Snapshots
>>
Weekly newsbriefs

Weekly Africa Newsbriefs 23 September

To receive this brief in your email every Monday, please subscribe here.

Leriba Africa Newsbrief

 Week commencing 23 September 

 

 signature-962388_960_720

 

 

 

 

 

 

 

 

 

 

Nigeria

Verod acquires Metropolitan Life Nigeria

West African private equity firm Verod Capital Management has acquired 100% of Metropolitan Life Nigeria for an undisclosed amount. The acquisition sees Momentum Metropolitan exit the Nigerian market in line with its reset and grow strategy.

AVCA 17 September

 

Chipper Cash expands

Chipper Cash, a Ugandan money payment firm, has partnered with Paystack, a Nigerian fintech start-up providing payment tools to businesses across Africa. Chipper Cash is expected to leverage Paystack’s payment gateway infrastructure to provide mobile money services to and from Nigeria.

Liquid Africa 16 September

 

East Africa

$6.67m investment for Africa Education Holding

Danish SDG Investment Fund has invested $6.67m in Africa Education Holding. The investment was made in co-operation with Finnfund from Finland and Proparco from France. Africa Education Holding offers affordable programmes in labour market-relevant studies in medicine, business, IT, law and social sciences.

Liquid Africa 18 September

 

Kenya

Record green investment for Kenya

Kenya attracted a record $1.4bn investment in renewable energy last year, the third highest in the Middle East and Africa, entrenching its shift from expensive sources of electricity. A UN report that tracks global trends in energy investments showed that Kenya overtook Egypt, the UAE, Jordan and Rwanda to join the top six centres of green energy.

Daily Nation 18 September

 

Morocco

Energy project receives $22m aid

The Moroccan integration of energy efficiency project in the building sector has received $22m in financial aid from Nama Facility, an international climate finance programme that seeks to encourage “ambitious action on climate change”.

Morocco World News 19 September

 

Sub-Saharan Africa

Ecopia Tech receives $6.5m

Toronto based Ecopia Tech has received $6.5m to digitally map sub-Saharan Africa. Digital maps are used used to improve economic efficiency, help with urban planning and in monitoring the environment. Ecopia Tech aims to map an estimated 342-million buildings, 2.36-million linear miles of roads and 1.43-billion acres of forests.

Liquid Africa 17 September