Commercial News from Africa

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

Rwanda's growing aid. The EU announced a US$632m support package to Rwanda for the period 2014-2020 as part of a wider Central African package approaching US$4.1b. DR Congo is another big winner with US$851m of support as part of the package.

US$1bn deal to boost Kenyan economy. The Africa Development Bank (AfDB) has approved a five-year KSh79.2bn (US$1bn) financing deal for Kenya to boost economic empowerment. The funds are targeting projects in the tertiary education and infrastructure development sectors.

Africa's largest PV plant planned for Namibia. The largest photovoltaic plant in Africa is planned to be constructed in Namibia as part of an initiative between Namibia Breweries and O&L Energy. It will be a 1MW on-grid solar facility. The technology and engineering oversight is from Germany, and the construction is expected to create up to 100 jobs.

Kia Motors driving into Nigeria. South Korean Kia Motors has signed an agreement with Dana Motors to setup a vehicle assembly plant in Nigeria in the next two years. Peugeot Automobile Nigeria (PAN) plans to restart operations in Nigeria with 3,000 cars set to be rolled out in June. Two Indian automobile manufacturers are also set to establish automotive plants.