Press Releases

Knight Frank has released the Africa Residential and Office Dashboards that provides occupiers, landlords, and investors with regular analysis of the rental performance and trends of prime residential and office markets across Africa.

The H1 2020 dashboards examined the residential and office market performance in 29 African cities during the COVID – 19 pandemic.

I would like to take this opportunity to step back and take stock of all that has occurred in the last three to four months. With colleagues from across PIDG, I have been reflecting upon the huge effort that has taken place to keep originating new infrastructure projects and to continue developing those already in our varied pipelines. We have also examined the impact of our coordinated response to COVID-19 and our efforts to ensure the health and welfare of our teams, partners and of people living in the communities close to where we work.

ABIDJAN, Cote D’Ivoire – August 11, 2020 – Agility, a leading global logistics and warehousing provider, has leased warehouse space in the Agility Logistics Park (ALP) in Abidjan to CDCI, Cote D’Ivoire’s top retailer, for a new nationwide warehousing and distribution centre.

CDCI, which operates supermarkets in Cote D’Ivoire, will use the ALP facility as a central distribution centre to hold stock and distribute a wide range of food and non-food consumer products to support its retail operations across Cote D’Ivoire.

Cape Town, 5 August 2020 ‒ Today, YPO Africa, a global leadership community of chief executives, and Invest Africa, the leading trade and investment platform for Africa, announced that they have entered into a unique bilateral alliance. The key aim of this groundbreaking agreement is for YPO Africa and Invest Africa to support each other in their African impact efforts, with an initial focus on YPO’s Lead COVID-19 Response to begin making the right connections between organisations to start conversations and drive investment.

London and Cape Town, 3 August 2020: African Infrastructure Investment Managers (AIIM), a member of Old Mutual Alternative Investments and Africa’s most experienced infrastructure manager, has appointed two joint-managing directors to be based in Cape Town and Lagos, following the retirement of the company’s previous CEO.

With remote work now being the ‘new normal’, the threat of a cyber-attack has increased and is near imminent. The rapid changes to working patterns to quickly and in many cases unexpectantly incorporate Remote Work has led to enlarged cyber vulnerabilities and security fall outs.

The unprecedented healthcare and economic challenges brought on by the COVID-19 pandemic have seen governments globally resort to drastic measures in a bid to save both lives and livelihoods. Now, as thoughts turn to recovery, attention is shifting to fiscal measures that – if successful – will stimulate investment, growth and employment. Whatever shape the recovery ultimately takes, it is inevitable that many will find themselves in financial distress, requiring debt restructuring or even facing bankruptcy.

The latest figures from African Energy Live Data suggest that Q1 2020 saw the lowest generation capacity additions in Africa for at least 20 years, with no new on-grid generation from February after coronavirus halted construction and commissioning

In a live broadcast to investors and private sector leaders hosted by Invest Africa yesterday, Tony Blair, Executive Chairman of the Tony Blair Institute for Global Change, called for a renewed focus on governance to drive Africa’s post-Covid recovery. Speaking to Carol Pineau of Africa-USA Now, the former Prime Minister of the United Kingdom highlighted the quality of governance as the key determiner of a country’s success. When it comes to governance, he said, “there’s no mystery. It is clear what works and what doesn’t.’ The real challenge lies in implementation – it is not enough to have the systems of democracy; countries must also embody its spirit through the creation of effective and independent institutions.

InfraCo Africa, with funding from the Private Infrastructure Development Group Technical Assistance (PIDG TA), is working with the team at Western Power Company (WPC) in Zambia’s Western Province to prepare communities close to the Ngonye Falls hydropower project site for the challenge presented by COVID-19.

InfraCo Africa, with funding from the Private Infrastructure Development Group Technical Assistance(PIDG TA), is upgrading medical facilities near the company’s Corbetti Geothermal project site in rural Ethiopia to enhance preparedness for managing COVID-19 and for meeting the area’s longterm healthcare challenges.

Increasing globalization has led to a decline in barriers when businesses are looking to expand into new markets around the world. Tax remains one of the central considerations when evaluating a business opportunity. The complexities and intricacies of navigating different tax systems has proven to be a challenge for multinationals that operate in more than one country.

Sanlam Investments is responding to the COVID-19 pandemic through large-scale support of the recovery of South African companies, from small enterprises to corporates that employ a large number of people. Sanlam has committed R2.25 billion of its own capital to seed three funds with the core objective of preserving and creating jobs ̶ in a drive to mobilise further capital from like-minded investors set on re-igniting economic growth.

Survey54 provides relevant and timely data on countries within Africa that can help validate assumptions and stress test strategies. With the help of our AI mobile platform, brands can benefit from concept testing and real-time opinion polls to gather the information; they need on one or more products or services.

Kenya’s parliament voted to nationalise the country’s main airline Kenya Airways to save it from mounting debts. The loss-making airline, which is 48.9 per cent government-owned and 7.8 per cent held by Air France-KLM, has been struggling to return to profitability and growth but is this the best long term solution for the struggling carrier? Tony Payne, Partner at DLA Piper joins CNBC Africa for more.

DPI, through its third fund ADP III, announces a $56m investment into leading Tunisian tomato processing and agri-business, SICAM, to reinforce its market leading position and help drive its national and international strategy.

London, 21 May 2020 – Development Partners International (“DPI”), a leading Pan-African private equity firm with a strong track record of investing across the continent, is pleased to announce the second investment from its third fund, Africa Development Partners III (“ADP III”), into Société Industrielle des Conserves Alimentaires (“SICAM”), a leading food business and tomato processor in Tunisia, aligned with DPI’s investment strategy focused on the emerging middle class in Africa and on consumer-driven industries.

African Infrastructure Investment Managers (AIIM) completes the exit of its flagship pan-African infrastructure fund’s (AIIF2) interests in South African renewable energy projects

Cape Town and London, 5 May 2020: African Infrastructure Investment Managers (AIIM), one of Africa’s largest and most experienced infrastructure-focused private equity fund managers, announces the successful divestment of AIIF2’s 14% stake in Cookhouse, a 139MW wind farm, and 34% stake in REISA, a 75MW solar PV facility. The exits are concluded through sales to AIIM’s IDEAS managed Fund, one of the largest equity investors in South African renewables with more than USD500 million invested in the sector.

The South African government is in an unenviable position. They must save an economy that is structurally broken, has the highest income inequality in the world and the highest HIV/AIDS rate, all while combatting COVID-19. The government faces a choice: use the COVID-19 crisis to reform the economy or continue the trend of ‘decision paralysis which would likely lead to a dreaded L-Shaped recovery and years of debt distress. Put differently there could be an orderly drawing down of the government balance sheet to finance a temporary shock or there could be a collapse into national bankruptcy.

Press Release

IATF2020 Postponed due to COVID-19

Cairo, 29 April 2020: – In light of the COVID-19 pandemic, the African Export-Import Bank (Afreximbank), the African Union (AU) and the Government of Rwanda have decided to postpone by one year the second Intra-African Trade Fair (IATF2020) initially set to take place from 1 to 7 September 2020 in Kigali, Rwanda.

6th April 2020

Monrovia, Liberia: InfraCo Africa, part of the Private Infrastructure Development Group (PIDG), has signed a Shareholders’ Agreement with Global Logistics Services Inc (GLS Group), committing US$7.5million to the development of the Liberia Inland Storage Facility (LISF) project. InfraCo Africa will be the majority shareholder in the project. The project will develop Liberia’s first open-access commercial warehousing facility and operations.

A.P. Moller Capital has completed its first investment in Kenya with the acquisition of the Nairobi based thermal power plant Iberafrica. A.P. Moller Capital acquired the 52.5MW Independent Power Producer (IPP) from Naturgy.

The acquisition of the entire issued share capital of Iberafrica, one of Kenya’s leading IPPs, is part of A.P. Moller Capital’s efforts to invest in infrastructure assets including power and energy in Africa. The acquisition provides A.P. Moller Capital with an effective platform to advance its investment commitments in Kenya. A.P. Moller Capital is planning to invest further in greenfield and brownfield power and energy infrastructure assets in Kenya.

Cairo, 24 March 2020: – The African Export-Import Bank (Afreximbank) has announced a $3-billion facility, named Pandemic Trade Impact Mitigation Facility (PATIMFA), to help African countries deal with the economic and health impacts of the COVID-19 pandemic.

Johannesburg, 10 February 2020 — Absa Group Limited’s Barclays-branded subsidiaries in seven African countries – Botswana, Ghana, Kenya, Mauritius, Seychelles, Tanzania and Zambia – were renamed as ‘Absa’ today, completing the name change across the continent. Absa Group’s subsidiaries in Uganda and Mozambique were renamed in November.

A.P. Moller Capital to invest in port and logistics infrastructure in West Africa

In partnership with Olam International (Olam) and Africa Finance Corporation (AFC) A.P. Moller Capital will invest in infrastructure in West Africa to create growth and development.

Through the Africa Infrastructure Fund, A.P. Moller Capital is making a sizable investment in a Ports and Logistics platform in West Africa. The platform is an infrastructure ecosystem of ports, trucking, warehouses and rail services, which facilitates effective trade and creates a foundation for local growth.

NEW YORK and NAIROBI, Kenya, Dec. 10, 2019 /PRNewswire/ — Chubb and the African Trade Insurance Agency (ATI) today announced that Chubb has made a $10 million equity investment in ATI. Chubb is the first global property and casualty insurance company to become a shareholder in Africa’s leading multilateral political risk and credit insurer.

The Swedish clean tech company Swedish Stirling today signed a letter of intent with South African development bank, IDC, to jointly establish a financing/leasing company in South Africa. The new company – which goes by the name “Southern Shield” – will initially be able to finance installations of up to 100 PWR BLOK units.

Olam Cocoa, the world’s foremost focused supplier of cocoa beans and cocoa ingredients, today announced its sustainability ambition for the future of the cocoa sector. Cocoa Compass aims to support the creation of an environmentally positive, professionalised and quality focused cocoa supply chain comprising farmers earning a living income and whose children have access to education.

The company is tackling the most pressing challenges currently facing the cocoa industry, and today outlines its plans to address these issues. Cocoa Compass targets areas for action that will have the greatest positive impact under the three pillars of Focused on Farmers, Empowered to Grow and Investing in Nature.

InfraCo Africa, part of the Private Infrastructure Development Group (PIDG), has this afternoon signed a Convertible Loan Agreement with Bonergie Irrigation SASU (Bonergie Irrigation), committing US$320,000 to pioneer delivery of Solar Powered Irrigation Systems (SPIS) for use by small-scale farmers in Senegal.

AFRICA’S KEY OIL & GAS TERRITORIES ARE MAKING BIG ANNOUNCEMENTS AT AFRICA OIL WEEK

Invest Africa’s partner event, Africa Oil Week will be the place for major national roadshows in the oil & gas sphere. 30 ministries are taking part this year, with over 20 presenting. This is the best chance to get insider knowledge on key opportunities, legislation changes, bidding rounds and more – direct from the companies and government intimately involved in leading them.

Veronica Bolton-Smith, Chief Operations Officer of Invest Africa, has been named as one of the Most Influential People of African Descent in the Business and Entrepreneurship category.