Commercial News from Africa

A report detailing key commercial and political activity in Africa for private equity investors by DCE Partners, UK Private Equity advisors to Atta 

The Rwandan real estate sector. Kenyan private equity firm Fusion Capital, in its first real estate investment in Rwanda, has agreed to finance the construction of a US$34 million shopping complex. The commercial building which is expected to occupy a 30,000 square metre land in Gasabo District. The development will be a dual tower office and retail block, with a nine-storey block overlooking the boulevard facade and a six-storey block overlooking Kimihurura roundabout.

Billion dollar rail project launched in Kenya. It should reduce the cost of transportation of goods and passengers by 60 per cent and also reduce road accidents when it is completed by 2018. The first phase of the project is expected to start in early 2014 and will involve construction of a 500km railway line from Mombasa to Nairobi and will cross Kilifi, Kwale, Taita Taveta, Machakos, Makueni, and Kajiado counties. The whole project will cost about Sh223.6 billion (US$2.57 billion).

Saudi billionaire to build two cement plants in Ethiopia. Mohammed al-Amoudi, the biggest private investor in Ethiopia, plans to build two more cement factories in the Horn of Africa nation amid an improving investment environment. Ethiopia's economy is projected to expand 7.5 percent next year, compared with an estimated 7 percent this year, the International Monetary Fund said in its World Economic Outlook in October.

Kenya rising as golf tourism resort. A fifth of the world's 1.6m golf tourists are now heading to Africa each year, with Kenya and Nigeria emerging as the fastest growth golf tourism destinations on the continent, the International Golf Tour Operators Association (IAGTO) reports. In 2012, global golf tourism was around was around US$2bn, one-fifth of which came to Africa.