Phatisa is pleased to announce the first close of its successor fund to the African Agriculture Fund (AAF) — Phatisa Food Fund 2 (PFF 2), which has received capital commitments in excess of US$ 120 million. Given the strong interest, and with subsequent investors in different stages of their processes, Phatisa will continue with rolling closings and expects to reach a final close target...

The sustained boom in the tourism sector in Africa could not but catch the attention of renowned names in the international hospitality value-chain as Ecofin Agency reported recently with many expansion and investments announced in the sector. Indeed, during the African forum on investments in the hospitality sector held in Nairobi (Kenya) this week, at least four investments have been announced...

From October 29 to November 1, 2018, Tunis, Tunisia’s capital will host the first edition of Festival international du film anti-corruption (International Festival of the Anti-Corruption film), Kapitalis reports. This festival whose goal is to “use cinema as a tool for self-reflection and critical debates on anti-corruption”  in order to “reach out to the general public for daily...

Energy Bank, the Nigerian group Energy Group’s subsidiary in Ghana, is announced in an Initial Public Offering (IPO) thanks to which it will raise GHC 340 million (about $68 million). If successful, the operation will be the second most important IPO in the Ghanaian financial market in terms of funds raised after the record issuance made by the local subsidiary of  South African...

During H1, 2018, private equity funds operating in Africa raised $2.4 billion, a status report published by the African private equity and venture capital association (AVCA) reveals. The same source informs that 60% of these funds were raised thanks to investments instruments dedicated to the infrastructure sector. During the period under review, $1.7 billion of the above-mentioned...

Last Monday, Ivanhoe Mines announced that it discovered a high-grade copper field on its Western Foreland permit, located in the west of its Kamoa-Kakula exploitation license in DRC.   The field, Makoko, is the third main copper mine discovery made by Ivanhoe in that country after Kamoa and Kakula which, combined, represents the fourth largest copper project in the world. The...

Since September 30, 2018, Libercom SA, the telecommunications operator which belongs to the incumbent operator Bénin Télécoms, has stopped operating in Benin. In a communiqué published on September 28, 2018, the company’s liquidator invited clients to use all their airtime before September 30. But, it is worth reminding that Libercom stopped commercial activities on Augst 29, 2018. The...

In Côte d’Ivoire, cocoa farm gate price has been set to CFA750 per kilogram for the 2018/2019 main campaign that was launched yesterday. This basis price that represents a slight increase by CFA50 compared to last season was announced by Lambert Kouassi Konan (photo), president of the coffee-cocoa council. Thanks to that increase, Côte d’Ivoire should reduce the price gap with neighboring...

In Ghana, fees for shipping cocoa to Europe will decrease from 39 pounds to 35 pounds during the 2018/2019 cocoa campaign. This decrease announced by Ghana Shippers' Authority (GSA) is one of the compensation measures of the country which lost about GHS2 billion in 2017 when cocoa prices fell on the international market. “The price of cocoa is down by 40 percent so we think a 9.4 percent...

Senegal will be granted about $70 million by the African Development Bank (AfDB) for the implementation of its community development programme, the bank indicated in a release published on its website last Monday. This new financing granted as a loan should help implement the second phase of a more than $187.5 billion programme. Planned to be undertaken in four years, this programme...