Promoting and Protecting Investments in Africa

Also, please don't forget about our annual "Doing Business in Africa" event on 11 October where we are delighted to be presenting an engaging and thought-provoking panel discussion on Promoting and Protecting Investments in Africa. The key note speech will be delivered by Greg Hands MP (in his role as the Minister of State in the Department for International Trade) and will be followed by distinguished panellists from both the public and private sectors, who will provide insights on how African investment is both attracted, promoted and secured across the continent.

View more details about the event here

Get your slice of the U.S $45 Billion World Bank pie

The World Bank has urged South African companies to stake a claim to the $45 billion that the group has set aside for projects on the African continent. Speaking at a seminar on doing business with the World Bank on Friday, Executive Director of the World Bank Group representing Angola, Nigeria and South Africa, Bongi Kunene, urged local companies to make use of opportunities presented by the group.

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Nigerian firm to invest in Ghanaian port project

A Nigerian firm, ARM-Harith Infrastructure Investment Limited, the manager of the ARM-Harith Infrastructure Fund has said it will partner other investors to provide equity capital for Prime Meridian Docks Ghana Limited. The ARMHIIL’s Accra-based Investment Director, Ernest Nyarko, said, “Another plus for us with this project is that its location in Takoradi is reasonably close to Aboadze where ARMHIF is an equity investor in the Amandi IPP, a l 92.4MW greenfield power generation plant that is currently under construction and scheduled to deliver power for supply in 2019.

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Official Launch of Nepad's 5 Percent Agenda Initiative for Infrastructure Financing in Africa

The New Partnership for Africa's Development (NEPAD) - African Union's economic development programme - gathered international investors and CEO-level business leaders at the NASDAQ Stock Market today, 18th September, for the launch of its 5% Agenda campaign. According to the World Bank, the continent needs to spend $93 billion annually (44% for energy; 23% for water and sanitation; 20% for transport; 10% for ICTs; and 3% for irrigation) until 2020 to bridge its infrastructure gap, which is currently removing an estimated 2% of GDP growth every year.

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Caterpillar launches BBBEE investment programme

The Minister of Trade and Industry, Dr Rob Davies will deliver a keynote address at the launch of mining and construction equipment manufacturer, Caterpillar’s Southern Africa’s Broad-Based Black Economic Empowerment (B-BBEE) Equity Equivalent Investment Programme (EEIP). “The programme is expected to contribute towards the achievement of enterprise creation and supplier development, foreign direct investment, accelerated growth and development of black rural women and youth, sustainable growth and development, human development with a focus on education and skills development, and infrastructure investment with an emphasis on developing the country’s research and development infrastructure,” says Davies.

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Africa50 to issue up to sh324b to private projects

In 2016, Alain Ebobissé was appointed Chief Executive Officer Africa50, a Pan-African infrastructure investment platform capitalized by the African Development Bank, and about 25 African countries and two African Central Banks. The former Global Head for the World Bank Group’s Global Infrastructure Project Development Fund (“IFC InfraVentures”) spoke to our reporter about the progress of Africa50, and how the private and public sectors in Uganda can benefit and contribute to the initiative.

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Gulf states to explore opportunities at Africa investment conference

More than 400 decision-makers, including government officials and business leaders, will meet in Dubai this week to discuss foreign investment opportunities in Africa during ALN’s (formerly Africa Legal Network) fourth Annual International Conference, “Africa: Bridging the Gulf” on 4-5 October at the Park Hyatt, Dubai, UAE. “The conference comes at an opportune time as new frontier markets are ripe with investment opportunities across the African continent, due to rapid urban growth, a rising middle class and increased globalisation".

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East Africa Metals enters MoU for US$250 million to finance projects

In addition the deal between East Africa Metals and Luck Winner Investment includes a private placement of 52 100 000 units at a price of $0.26 per unit for aggregate gross proceeds of approximately C$13 550 000. Luck Winner Investment has also agreed to provide an unsecured loan to East Africa Metals in the amount of C$2 000 000.

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Capitalworks launches $300m sub-Saharan Africa investment company

Independent alternative asset manager Capitalworks Group has launched Africa Capitalworks, an investment company that will deploy permanent equity capital in midmarket companies in strategically selected sectors across sub-Saharan Africa, but excluding South Africa.

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• RMI and Royal Investment Managers to acquire combined 30% stake in Ethos Private Equity (South Africa)
• Dangote confirms PPC acquisition rumor (South Africa)
• East Africa attracts $1.6 billion in foreign capital, with Kenya taking bulk
• Arise takes 12% stake in Equity Group Holdings (Kenya)
• HFC in talks with two banks to meet $91 million minimum capital requirement (Ghana)
• Telcos protest Uganda Telecoms taking over business
• US firms get more time on Obama power plan (Kenya)
• Central Bank of Nigeria releases $433 million for Anchor Borrowers’ Programme
• Old Mutual writes off $887 million in its Kenyan subsidiaries
• Hilton to open Ngong Road outlet in Dec (Kenya)
• Germany’s Allianz eyes 98% stake in Ensure Insurance for $35 million (Nigeria)
• Nigeria’s $282 million debut Sukuk offer oversubscribed by 6%
• Forex window records $1 billion transactions in one week as investor confidence rebounds (Nigeria)
• External reserves hit 31-month high to $33 billion (Nigeria)

Established 60 years ago, our extensive membership base consists of more than 400 companies ranging from different sectors that are committed to doing business on the continent. Through our 30 plus events each year and In-Country Representative network, BCA members benefit from unparalleled networking opportunities with prominent business leaders, high-level government officials and visionary entrepreneurs.

For further information please contact George Arnold or Karen Taylor.

• G20 and World Trade
• G20 Summit
• Free Trade Deals
• African Economic Growth
• The Commonwealth
• EU Economic Partnership Agreement (EPA)
• Continental Free Trade Area (CFTA)

Kenya

• Politics
• The Economy
• Conclusion

Uganda

• Politics
• The Economy
• Outlook

Tanzania

• Politics
• Infrastructure
• Outlook

Rwanda

• The Economy
• Business

Ethiopia

• The Economy
• Business
• Infrastructure

Regional round-up

• Burundi
• Somalia
• South Sudan

For further information regarding the above please contact John Small.

The Eastern Africa Association (EAA) was established in 1964 on the initiative of a number of prominent, mainly British based companies with business interests in East Africa and it now has over 400 member companies from more than 25 different countries. The EAA aims to facilitate successful participation in the economic development of Eastern Africa by member companies. The EAA exists to support the business activities of its members in the countries covered by providing channels of communication and lobbying on common issues, either through the various diplomatic missions, the international financial institutions or directly with the respective national government.