AfricaHot newsInvestment

Higher mortgages in East Africa

Tanzania’s mortgage portfolio rose by nearly 50% in the year ended December 2013, pushed up by increased competition among lenders, defying relatively high interest rates. New data released by the Bank of Tanzania (BoT) shows…
AfricaHot newsTechnology

Essar exit to boost Safaricom

Essar has decided to exit the Kenyan telecommunications market. Despite having decent market share metrics, yuMobile was struggling to survive in the Kenyan market. News of Essar selling its Kenya unit first broke in June 2011 when India’s Economic Times quoted two unnamed sources saying Essar was looking for a buyer for its telecoms operations in that country and that it would be willing to sell the business for about USD 300m. However, the Kenya office denied this claim.
AfricaHot newsInvestment

Worries over proposed new Rwandan mining law

An on-going minerals certification scheme and the mineral tagging mechanism will reduce speculation and smuggling of minerals, strengthen traceability, and will help change mining from a trading based business to an extracting business. Since 2011, Rwanda’s government has been putting pressure on private companies with big concessions to increase their investment or lose the contracts. At the same time, it has been awarding licenses to new companies.
AfricaHot news

New Africa Equity Opportunities Fund

The new Ashburton Africa Equity Opportunities Fund, launched this week, comes at a time when valuations are cheap relative to emerging markets and the consumer boom is leading to greater demand. The fund will offer investors more sources of return through an attractive African investment opportunity, and is consistent with their goal of becoming the leading new generation investment manager in Africa offering South African, African, Asian and Chinese investment opportunites.
AfricaHot news

Call to dismiss SSA Ecobank CEO

Members of South Africa’s Public Investment Corporation (PIC) have written a letter, asking for the immediate dismissal of Ecobank CEO Thierry Tanoh. Several Ecobank subsidiaries are in dire need of capital to do business,” the letter said, accusing Tanoh, a former vice president of the World Bank’s International Finance Corporation, of failing to raise money for the bank. The sage around government breaches and infighting have been covered more and more in the media.
AfricaInvestment

Make Africa a manufacturing hub

While SSA economies have generally been seen as some of the world’s fastest growing for years to come, much has been discussed pertaining to the sustainability of the growth given the region’s dependence on raw material exports, especially those from resources and agriculture. Understandably, resources are finite while agriculture is generally volatile. One of the key missing ingredients in this regard has been the promise of a developing manufacturing sector.
AfricaInvestment

The emergence of Senegal

Given its political stability and stance on corruption, Senegal is in a good position to achieve success in seeing through its development plan, for which the country has raised more than intended at a donor conference in Paris. Of its operations, Sonatel’s flagship market, Senegal, had become an area of concern as growth prospects in mobile voice were significantly limited while growth prospects in data services faced a low ceiling. We see this development as one that will help address these challenges.
AfricaHot newsTechnology

Africa’s social business solution

Local players who understand South Africa’s unique IT and communications environment have a definite edge over global players. A recent trip to the US showed how maturing markets implement social business software (SBS) in their corporate structures, and highlighted this in contract to South Africa and Africa, where SBS is in its infancy. There are lessons to be learnt here from these emerging leaders.