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African Private Equity News (PE)
African focused private equity funds
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Actis sets up Africa education platform
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Private equity firm Actis has created a US$275m higher education platform spanning nine countries in Africa as it looks to cater to rapidly growing educational needs
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The pan-African initiative, which the group has branded Honoris United Universities, has brought together private universities and colleges across 48 campuses in 30 cities in Africa
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The network spans Tunisia, Morocco, South Africa, Namibia, Zambia, Swaziland, Mauritius, Botswana and Zimbabwe
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Southern African economic news (SADC)
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Eskom declines signing another purchase agreement
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Eskom has for a second time declined to sign power purchase agreements with renewable energy project developers, and this the South Africa’s power utility seems to have a complete backing of the government
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Just recently an inter-governmental team informed the South African Parliament that Eskom has been facing some challenges which are preventing it from signing PPAs with renewable energy project developers who had earlier secured projects through competitive auctions
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Investments worth $4.45BN are stranded by Eskom’s decision not to sign the PPAs with the planned projects. This is not the first time that Eskom has backtracked from its commitment to sign PPAs
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West African economic news (ECOWAS)
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Railway sector needs US$21 billion investment
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The country’s railway sector needs about US$21 billion investment to bring to life the proposed railway master plan which will see the construction of a railway network in excess of 4,000 kilometres across the country
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So far, a total length of 1,394 kilometers of the rail network has been identified by the ministry as priority projects to be constructed within the next four years
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Nigeria’s power sector no longer attractive to investors
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Nigeria’s electricity sector which was massively courted by local and international investors on the heels of its privatisation by the federal government in 2013, has finally fallen out of favour in the eyes of the same investors, the Power Sector Recovery Programme (PSRP) of the government has disclosed
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According to the PSRP which was initiated by the federal government and World Bank, the sector has lost its appeals to both local and international investors so much that sources of funding for its big projects have dried up and left it with just two dependable funding windows – the Central Bank of Nigeria (CBN); and World Bank
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Central African economic news (ECCAS)
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Cameroon secures US$52 million Spanish bank loan
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Cameroon has secured FCFA 30 billion (US$52 million) loan from the Deutsche Bank of Spain to strengthen the national electricity transmission
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The deal was inked Wednesday in Yaoundé, with on behalf of Cameroon by the Minister of Economy minister Louis Paul Motaze signing for Cameroon and on behalf of the donor institution by the director of operations, Mr Antonio Navarro Escabias
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The cash will, among others, assist the 21-months old National Electricity Transport Company (SONATREL) reinforce the grid between hydroelectric power producing town of Edea and the capital Yaoundé, with an additional transmission line
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