Catalyst Principal Partners has acquired a 50% stake in an Ethiopian bottled water company
Reposted from Ethiosports
By Markos Berhanu
Catalyst Principal Partners, an East African-focused private equity firm, today announced the acquisition of a 50% stake in Yes Brands Food & Beverages PLC, Ethiopia.
Speaking at the signing ceremony, Catalyst CEO Paul Kavuma said “Yes Brands is the leading bottled mineral water company in Ethiopia with a dominant brand and market share. Catalyst aims to build upon the company’s strength to accelerate growth of the business through enhanced operational capacity, deeper distribution and product innovation.” More…
Botswana, Rwanda, and Ghana were recently named among the top 10 countries in the world to invest
Reposted from eNCA
Three African countries have been listed in the top ten of the 102 best places in the world to invest.
A report by the US think tank, Foreign Policy has ranked countries by their attractiveness as investment destinations. Southern Africa’s Botswana, East Africa’s Rwanda and West Africa’s Ghana have all been listed among the 10 best places in the world to invest. This is based on the ease of doing business, the return on investments and the stability of the country. In first place on the continent and second globally is Botswana. More…
An investment group led by the Coors family plans to invest $300M in Africa
Reposted from The Wall Street Journal
By Patrick McGroarty
A club of wealthy families led by brewing scion John K. Coors is setting up a new private-equity fund that plans to invest $300 million in Africa and go toe-to-toe with other funds in the continent’s frontier markets.
The group of more than 10 families aims to invest the sum over the next four years, while recruiting other wealthy families to contribute. In an interview, Mr. Coors said the group will make its first investment in Africa this year. He didn’t disclose details but said the fund is in discussions with two South African companies and another from outside the continent looking to set up operations in Kenya. More…
Ethiopia is courting investment from the BRICS countries to build its rail networks
Reposted from Bloomberg
By William Davison
Ethiopia is negotiating with Brazil, Russia and India to finance and build rail links after agreeing terms last year with Chinese and Turkish companies for other routes, the head of the state rail company said.
Russia’s government may fund a 587-kilometer (365-mile) southern line that will eventually connect with a proposed port at Lamu on Kenya’s northeastern coast, Ethiopian Railways Corp. General Manager Getachew Betru said in an April 26 interview. Brazilian companies could build a 439-kilometer section of a route to oil-rich South Sudan and India is considering export financing for a line to a port in Djibouti, he said. More…
The Huajian Group has committed $2bn over the next decade to create a light manufacturing special economic zone in Ethiopia
Reposted from The Guardian
By Elissa Jobson
Helen Hai, vice-president of Chinese footwear manufacturer the Huajian Group, has a bold ambition. Within a decade, she wants Ethiopia to be a global hub for the shoe industry, supplying the African, European and American markets.
“We are not coming all the way here just to reduce our costs by 10 to 20%,” Hai says. “Our aim is in 10 years’ time to have a new cluster of shoe making here. We want to build a whole supply chain…I want everything to be produced here.” More…
Ethiopia and China have signed a $1 billion deal to further hydroelectric energy in the East African nation
Reposted from CapitalFM
Ethiopia signed a contract Friday worth nearly $1 billion with a Chinese energy company to build two transmission lines linking the country’s largest dam to the country’s central power grid.
The Ethiopian Electric Power Corporation (EEPCo.) signed the deal with China Electric Power Equipment and Technology Company (CET) in the Ethiopian capital. More…
Indian investors are setting up a denim manufacturing plant in Ethiopia
Reposted from Gulfnews.com
Kanoria African Textiles Plc, a subsidiary of India’s Kanoria Chemicals & Industries, is setting up a denim fabric manufacturing plant that will be a first for Ethiopia and East Africa and will create 350 jobs, mainly for Ethiopians.
This is one of the 577 projects on which Indian investors will be spending $52 billion in Ethiopia, according to data released by the Ethiopian Investment Agency (EIA). Of these, 152 are operational and have created 13,000 permanent and 98,000 temporary jobs across the country. Indian investors have been in the country since 1985. More…
Cape Verde and Mozambique are increasingly attracting FDI
Reposted from MacauHub
Cape Verde and Mozambique are two of the most attractive destinations for foreign investment in Africa in 2013, according to a document published in Lille by French consultancy StrategiCo.
In the “Risks in Africa 2013” report to which Macauhub had access, the consultancy noted a “change in perception” of foreign investors in relation to Africa, due to average growth of 4.8 percent this year, above the world average of 25 percent, according to the IMF. Figures from the World Bank showed that foreign direct investment (FDI) would rise 57 percent in two years to US$48.7 billion in 2014, it said. More…
African countries are boosting their sugar production and planning intercontinental trade
Reposted from Bloomberg Businessweek
By David Malingha Doya
An end to sugar quotas in the European Union, expected by the EU Council as early as 2017, may promote trade of the sweetener within Africa as Ethiopia and Nigeria plan to raise output, said Ecobank Transnational Ltd.
“There is a deficit of sugar in Africa, yet producers still export to Europe and import from Brazil,” Edward George, head of soft-commodities research at Ecobank, said in an April 17 interview in Kenya’s capital, Nairobi. “This will change if and when Europe bans quotas.” More…
Economic growth in sub-Saharan Africa will outpace the world economy over the next three years
Reposted from BBC News
Economic growth in sub-Saharan Africa should significantly outpace the global average over the next three years, according to the World Bank. Higher commodities, increasing investment and a general pick-up in the world economy should all boost the continent’s growth to more than 5%. But the World Bank added that African governments had to do more to ensure that this growth reduced poverty. More…