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Week commencing 17 April 2017
The “repricing” of assets across many African economies could well position them to attract more foreign direct investment over the medium term, says Deloitte’s in its Insights report into African Trends Going into 2017. In the short term, a likely trend is the restructuring and sale of public utilities and state assets. Lessons learnt from struggling countries may inspire other governments to take a closer look at their own debt sustainability, which may promote privatisation in an effort to stimulate sustainable growth, it says.
Deloitte 17 April
The African Development Bank has unveiled its new electrification programme, under which it will invest $12bn over the next five years. The fund will support its New Deal on Energy for Africa, which aims to achieve universal access to electricity in Africa by 2025.
African Business 17 April
Quantum Global, a Swiss-headquartered private equity investment firm, is launching a power development platform on behalf of QG Africa Mezzanine, its $250m investment fund. In its first phase of operation, the joint venture will prioritise potential opportunities in several sub-Saharan countries including Angola, Botswana, Mozambique, Uganda, Nigeria, Kenya and Ghana.
Africa Capital Digest 17 April
Leapfrog Investments is set to receive up to $25m from the International Finance Corporation to fund investments in health care and financial services firms in Kenya, Nigeria, Ghana and South Africa, among others. The fund will invest in companies that focus on the lower-income emerging consumer and also enhance regional integration by supporting companies’s expansion across borders.
Daily Nation 10 April
Anheuser-Busch InBev NV will export packs of eight African beer brands outside the continent in a bid to maximise the potential of a continent that was key to its decision to buy rival SABMiller for $103bn. The brands including Castle, the dominant brand in South Africa, Kilimanjaro of Tanzania and Nigeria’s Hero.
Bloomberg 12 April
The European Union has agreed to provide the Tanzanian government with $205m in budget support over the next four years. The money will be used to finance priority expenditure in the Second Five Year Development Plan, particularly in the agriculture, energy, health and industrial development sectors.
African Business 11 April