Atta Africa Financial Update

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

Executive summary: Israel's Netanyahu starts landmark Africa trip.

Israeli Prime Minister Benjamin Netanyahu commemorated the 40th anniversary this week of the Uganda hostage rescue in which his brother died, as he started a historic tour seeking new trade partners in Africa. Netanyahu himself attributes the event involving his brother to his hardliner attitude.

Exactly 40 years ago Israeli soldiers carried out the historic mission in Entebbe, said Netanyahu, making the first trip by an Israeli premier to sub-Saharan Africa for decades. The Arab-Israeli conflict drove a wedge between African countries and the Jewish state in the 1960s. Following wars between Israel and its neighbours in 1967 and 1973, North African nations led by Egypt put pressure on sub-Saharan African states to cut ties with Israel, which many did.

But times are changing. Israel is launching a US$13-million aid package to strengthen economic ties and cooperation with African countries.

Israel's dealings with Africa currently constitutes only two percent of its foreign trade, leaving plenty of room for growth - demand is rising for its defence expertise and products.

Fact: A small percentage of the static you see on an untuned TV is left over radiation from the Big Bang.

Fusion Capital launches first Kenya D-REIT offer

  • Fusion Capital has launched a Sh2.3bn (US$22.7m) offer for the first Development Real Estate Investment Trust on the Nairobi Securities Exchange, to finance and complete the development of Greenwood City

Wendel to acquire 40% of SGI Africa

  • Wendel, a French investment company is investing €120 million in SGI Africa to take a 40% stage
  • SGI Africa is a pan-African developer and operator of shopping malls
  • Other shareholders include CDC and the Qatar Investment Authority
  • The deal brings Wendel’s total investment in African companies to more than €800 million since 2013