- Tanzania to get tourist portal
- The Magical Kenya Travel Expo (MKTE) 8th-10th October 2014
- Online visas to boost Zambia’s tourism sector
- Medical Update: Ebola (1)
- Qatar launches Cape Town flights
Commercial News from Africa
Key commercial and political activity in Africa for private equity investors by DCE Partners, UK Private Equity advisors to Atta.
Angola's US$5 billion sovereign fund. Angola's sovereign wealth fund has identified direct investments in sub-Saharan Africa, and is poised to start deploying up to a third of the US$5 billion it has been endowed by the government. The fund will identify opportunities in commercial infrastructure, energy, mining, agriculture and real estate. The fund will deploy one-third of its endowments, around US$1.66 billion, to opportunistic investments that could complement its activities in Angola and elsewhere in Africa.
Africas richest man sells stake to UAE SWF. Aliko Dangote is selling a stake in his cement company to a sovereign wealth fund owned by the government of Dubai, United Arab Emirates. The Investment Corporation of Dubai (ICD) will invest US$300 million in Dangote Cement, West Africa’s largest company, for a minority stake. It is not yet clear whether the ICD will be acquiring the stake at a discount or premium to Dangote Cement’s current market price. Dangote Cement, which is listed on the Nigerian Stock Exchange, has a current market cap of US$24.5 billion. At its current value, ICD’s US$300 million injection would give it a 1.28% stake approximately.