On my first visit to Nigeria as I made my way around the city between meetings, I visited the Nigerian National Museum in Lagos. There were many interesting displays but two things stood out for me. Firstly, was that for some reason the museum had an infestation of mosquitoes that warmly welcomed us and the Black Mercedes in the centre.
Proparco, the French Development Finance Institution (DFI), has been active in Africa for over 40 years. The DFI has developed a comprehensive approach, with presence on the continent through six regional offices, covering its debt, guarantee and equity offerings. AGF’s Anna Lyudvig speaks with Jérémie Ceyrac, Head of Equity, Responsible Investments to learn more about financial products on offer, recent investments in Africa and African impact investment scene.
Mezzanine debt funds can be an attractive investment for investors looking to achieve regular cash distributions and potential high total returns, with low volatility and downside protections.
After careful consideration and analysis, the Franklin Templeton Investment Funds (FTIF) Board of directors decided to merge the FTIF Templeton Africa Fund into the $65.9m FTIF Templeton Frontier Markets Fund, effective February 15, 2019. Due to both funds sharing similar investment objectives and target investor profiles, the Board believes that this merger will offer economies of scale to existing shareholders.
The fundraising environment in the Southern African region remained rather challenging in 2018, mainly due to the economic and political environment. This resulted in the decrease in the amount of capital raised by the industry.
2018 saw a continuation of what has become a consistent theme of improvement in Africa’s capital markets, writes Hari Chaitanya, Head Investor Services Product Management, Transactional Products and Services, Standard Bank.
RisCura has launched a delegated investment solution for smaller pension funds in South Africa. David Potgieter, Head of Delegated Investment at RisCura, says that the new Delegated Investment service is aimed at reducing the burden of cost and administration as well as time constraints faced by many trustees.
EMPEA this week released its year-end Industry Statistics, which outlines the bottom line for private investment in emerging markets across the globe. AGF speaks with Jeff Schlapinski, Senior Director, Research, EMPEA, about African private capital fundraising in 2018, deal activity, fund strategies and more.
The exit environment for African private equity is much more robust and active than many realise. There is an active market both for selling and buying of assets and interests, according to Paul Boynton, CEO of Old Mutual Alternative Investments. “There are a growing number of exit routes across different sectors and countries, not just in the more mature South African market, he says.
In which markets and sectors do you see the best investment opportunities for equity investors in 2019?
Trade has driven much of Africa’s economic growth in recent decades. Yet a sizeable trade finance gap is restricting growth for SMEs. Chris Ash, Managing Director at ExWorks Capital, explains why only innovative finance can solve this impasse.
In December 2018, H.E. Calle Schlettwein, Minister of Finance of Namibia visited New York to meet with US investors and businesses to discuss economic recovery prospects and investment opportunities. In an exclusive interview with Africa Global Funds, Minister of Finance said that the country has embarked on a large scale programme of renewing and developing its infrastructure. The country offers opportunities for investment in infrastructure trough public private partnerships (PPPs) or foreign direct investment (FDI).
Investors have had disappointing returns from domestic equities this year after a promising start. South Africa (SA) is now in a recession and the global backdrop is no longer as supportive, so President Ramaphosa will have his work cut out to instil a new sense of confidence to ignite growth. His stimulus package and a revised mining charter are good signs, but scepticism dominates markets. Hope alone is not– implementation is required. Where might be the turning point?
After the political and economic turmoil of recent years, Morocco has emerged as a safe haven for PE investments, attracting capital from abroad through its political stability and favourable business environment. During the 2012-2017 period, 56 transactions were closed, representing 42% of North African transactions (Morocco accounts for 20% of the total population in North Africa), amounting to nearly $900m.