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26 August 2015

Atta Africa Financial Update

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

The best places to live in Africa. Cape Town was the New York Times’ top city destination in 2014 but beyond being a popular tourist hub, it is generally considered the most liveable city in Africa for its natural beauty and buzzing digital economy. Lagos, Addis Ababa and Dar es Salaam are renowned as frenetic cities to be endured for their economic potential - the wealth being created is moving thresholds for poor infrastructure and services. Over-crowded matatus and smoky boda-bodas are still part of the landscape, but African cities are building new identities.

Nairobi’s clement climate, malaria free altitude and entrepreneurial population has enhanced its status as the capital of East Africa, attracting more multinationals such as General Electric and the Rockefeller Foundation.

Other African cities are disrupting the status quo. Johannesburg - long known as a city with serious edge - claims to be the greenest city in the world and is experiencing a real push to rehabilitate its old CBD, now a cosmopolitan hub of food and fashion over the weekends. Kigali, the Singapore of Africa, is positioning itself as the safest and cleanest city in the continent; Gabon’s highly educated population make Libreville’s French style boulevards all the more inviting.

And then of course Accra. The sandy beaches and warm population make it a favoured spot on the west coast of this enormous continent.

Africa Oil announced it is raising US$50 million from the IFC
 
  • Once completed, the deal gives IFC a 6.83% stake in the company and looks set to close on August 31st, subject to regulatory approvals
  • Helios Investment Partners invested US$100 million for a 12.4% in Africa Oil this year