Commercial News from Africa

Key commercial and political activity in Africa for private equity investors by DCE Partners, UK Private Equity advisors to Atta.

Africa is expected to get its first continent-wide, dedicated, TV news channel by next year.The multilingual rolling news channel - Africanews - will be head-quartered in Brazzaville, the Congolese capital, with satellite offices scatted across Africa. At launch, it will broadcast in English and French, with Arabic, Portuguese and Swahili to follow. Underpinning the strategy is a drive for the content to be edited by Africans, for an African audience.

Goldman Sachs joins the race to acquire African telecoms. Goldman has bet on Africa’s booming mobile phone industry, joining a nearly US$500m capital raising by Lagos-based IHS Towers. IHS Towers is the continent’s largest mobile infrastructure company. IHS Towers has said it aims to double its Nigerian portfolio of mobile tower to 20,000, while also expanding geographically across Africa.

South African based logistics company to build Zambian rail. Grinrod is expected to build, operate and maintain an almost 600km railway connecting Zambia's copper belt with Angola's network. The initial phase of the project is the connecting of Chingola to Kansanshi, Lumwana and Kalumbila mines at a cost of US$489m.

South African clothing retailer expanding into West Africa. Foschini is expanding its West African presence. The retailer plans to open up to 4 new stores in Ghana by the end of the year. This off the back of successfully opening two Nigerian stores in 2013. Kenyan expansion plans have been shelved.