investing in Africa Archives - Page 3 of 3

16Feb

By Pomy KetemaNo Comments

Main

AfCFTA is Now Operational: What to Expect in the First Few Months

by Pomy Ketema, Counsel, Baker McKenzie, New York The African Continental Free Trade Area (AfCFTA) is one of the largest trading blocs in the world with the majority of African countries now operating under its preferential trade framework. Trading under AfCFTA commenced on January 1, 2021 under a liberalized trade regime that would gradually lead to an integrated continental market with tariffs phased out on 97% of tariff lines within 10 to 13 years. AfCFTA covers both goods and services, and provides a platform for individual countries or regional economic communities (RECs), as applicable, to engage in intra-African trade, through offers of tariff concessions and service commitments with reciprocal most-favored-nation treatment. There is already a degree of liberalized trade and integra...

Janus Continental Group (JCG) Invests $13 Million in Highview Power as part of African renewable energy storage drive

11Feb

By Africa BusinessNo Comments

Energy, Green Energy

Janus Continental Group (JCG) Invests $13 Million in Highview Power as part of African renewable energy storage drive

JCG’s investment arm Janus Capital takes stake in Highview Enterprise Limited. The deal will bring Highview Power’s cutting edge CRYOBattery™ energy storage technology to JCG’s core markets in sub-Saharan Africa. The investment will unleash the potential of renewable energy storage across Africa, supporting JCG’s wider growth and business goals in this sector. Janus Continental Group (JCG), a conglomerate with businesses in the Energy, Hospitality and Real Estate sectors across three continents, has announced that it has invested USD $13 million in Highview Enterprises Limited, the developer of liquid air long-duration energy storage systems, called the CRYOBattery™. JCG’s subsidiary, Great Lakes Africa Energy Ltd (GLAE), will license Highview Power’s cryogenic energy storage technol...

Commitment to sustainability opening doors to post-pandemic capital in Africa

8Nov

By Wildu du PlessisNo Comments

Main, Nigeria News, South Africa News

Commitment to sustainability opening doors to post-pandemic capital in Africa

By Wildu du Plessis, Head of Africa, Baker McKenzie The industrials, manufacturing and transport (IMT) sector is being hit hard by COVID-19 disruption, but commitment to sustainability could very well lead the sector to recovery. This is according to Baker McKenzie’s report "Sustainable Success: Exploring environmental, social and governance priorities for industrials through COVID-19 and beyond" which revealed that industrials have taken great leaps forward in relation to environmental, social and governance matters (ESG) in the past decade. The report outlines how CEOs in the sector have signed up to a new holistic definition of company purpose and most public companies now report on ESG goals. Access to funding is also becoming intricately linked to a commitment to ESG principles, with...

Investing in Africa: An Outlook on Nigeria and Ethiopia

2Apr

By Itumeleng MukhovhaNo Comments

African News, Ethiopia News, Main, Nigeria News

Investing in Africa: An Outlook on Nigeria and Ethiopia

Itumeleng Mukhovha, an associate in the Corporate/M&A practice at Baker McKenzie in Johannesburg One can easily assume that international investors are deterred from investing in Africa given the growing need to weather a global financial crisis, which has been distorted by Brexit, rising geopolitical tensions, tightened global liquidity conditions, leveraged loans and sketchy debts that continue to riddle bank systems, idiosyncratic governments and the bond yield curve that is trending toward inversion. However, this is not the case. Conversely, the global financial crisis and the desperate search for growth, yield and solvency has led investors to pay more attention to emerging markets in Africa, and in particular frontier markets with favourable growth paths, moderate debt levels an...

18Dec

By James HallNo Comments

African News, Main

African trade amongst African countries: with the groundwork laid, innovation and infrastructure investment are needed to unleash the continent’s economic potential

By James Hall Analysis in Brief: The benefits of boosting the low rate of trade amongst African countries are undeniable. The countries signing on to the African Continental Free Trade Area (AfCFTA) know this. However, inertia to break old trade barriers and against building value-added industries to replace foreign imports is the challenge to overcome. As exemplified by AirRwanda’s increase in direct flights between Lusaka and Johannesburg, intra-African trade benefits all participating countries. For instance, Zambia benefits as an intermediary between South Africa and Zambia along one of Africa’s busiest air routes. Likewise, Ethiopian Airlines is currently expanding its African scope to derive similar benefits. However, more cross-border movement of trade is required to match aviation’...

20Oct

By Africa BusinessNo Comments

African News, Nigeria News

Richard Chandler Corporation Invests in Union Bank of Nigeria

SINGAPORE, 2012 /PRNewswire/ -- The Richard Chandler Corporation announced that it has invested US$112 million to support the recapitalisation of Union Bank of Nigeria by Union Global Partners Limited (UGPL) consortium. This investment equates to a 13.4% position in Union Bank of Nigeria (UBN). Founded in 1917, UBN is one of Nigeria's most recognised and established banks, with a strong heritage and a pedigree brand. UBN has a nationwide platform of over 400 branches, approximately US$6.6 billion of total assets and approximately US$ 3.5 billion of customer deposits. UGPL has recapitalised UBN with US$ 500 million, acquiring a 65% shareholding in the bank. Nigeria has a population of 167 million, making it the seventh most populous country in the world and Africa's largest...