Здравствуйте. Вся информация этого сайта бесплатна. Вы можете сделать пожертвование и поддержать наше развитие. Спасибо.

Hello. All information of this site is free of charge. You can make a donation and support our development. Thank you.

2014-06-29 19:55:00

FOCUS TO AFRICA

FOCUS TO AFRICA

Edmond de Rothschild has amassed $530m for its first private equity fund focusing on deals in Africa, in the latest sign of investors' growing interest in the continent.

The fund will be managed by Amethis, a company majority-owned by the Swiss private banking group and founded by Luc Rigouzzo and Laurent Demey, two former top executives at French development financial institution Proparco.

The group, chaired by Baron Benjamin de Rothschild, the late Edmond's son, is joining Washington-based Carlyle and Dubai-based Abraaj in raising dedicated funds for Africa, tapping into yield-hunting investors warming up to Africa's steady economic growth and emerging middle class.

Private equity funds targeting the continent attracted $2.4bn last year, nearly double the amount collected the previous year, according to Preqin, the data provider. Earlier this year, Carlyle secured nearly $700m for its first sub-Saharan African fund, less than Helios Partners' $908m pool, which closed in 2011, the largest so far. New York-based KKR this month invested $200m for a stake in an Ethiopia-based exporter of roses, its first deal in the region, while General Atlantic hired an executive in London to explore African deals.

The inflow of capital was pushing up prices of the larger deals and that was partly why Amethis would instead target minority stakes in small to medium-sized companies, Mr Rigouzzo, who grew up in Ivory Coast, said.

"Some funds may not invest all the money they raised," he warned.

Wealthy families and entrepreneurs, who have committed about half the money to Amethis, have been quicker than institutional investors to see the appeal of investing in Africa. About three years ago, Ariane de Rothschild, Baron Benjamin's wife, who lived in Kinshasa, the capital of Democratic Republic of Congo, gave a mandate to the bank to build an investment platform focusing on Africa, said Johnny El Hachem, chief executive of Compagnie Benjamin de Rothschild Conseil.

"We are looking for high-return projects but with a strong social development aspect," Mr El Hachem said. "But we needed a team. We came across Luc and Laurent in 2011 and we decided to partner."

Amethis, with about 20 staff and operating from Nairobi and Abidjan, has already invested in five companies including Kenya-based Chase Bank and Petro Ivoire, an Ivorian gas distributor.

After five years, investors will have the option to convert their stakes in the fund into shares of a company that could then float to gain permanent capital. This would allow them to keep investments over a long period, rather than having to sell them after five to six years.

"Time counts in Africa. You can get much better returns if you stay longer," Mr El Hachem said.

ft.com

Tags: AFRICA, GAS

Chronicle:

FOCUS TO AFRICA
2018, July, 16, 10:35:00

CHINA'S INVESTMENT FOR NIGERIA: $14+3 BLN

AN - China National Offshore Oil Corp. (CNOOC) is willing to invest $3 billion in its existing oil and gas operation in Nigeria, the Nigerian National Petroleum Corporation (NNPC) said on Sunday following a meeting with the Chinese in Abuja.

FOCUS TO AFRICA
2018, July, 16, 10:30:00

LIBYA'S OIL DOWN 160 TBD

REUTERS - Production at Libya’s giant Sharara oil field was expected to fall by at least 160,000 barrels per day (bpd) on Saturday after two staff were abducted in an attack by an unknown group, the National Oil Corporation (NOC) said.

FOCUS TO AFRICA
2018, July, 16, 10:25:00

BAHRAIN'S GDP UP 3.2%

IMF - Output grew by 3.8 percent in 2017, underpinned by a resilient non-hydrocarbon sector, with robust implementation of GCC-funded projects as well as strong activity in the financial, hospitality, and education sectors. The banking system remains stable with large capital buffers. Growth is projected to decelerate over the medium term.

FOCUS TO AFRICA
2018, July, 16, 10:20:00

NIGERIA'S GDP UP 2%

IMF - Higher oil prices and short-term portfolio inflows have provided relief from external and fiscal pressures but the recovery remains challenging. Inflation declined to its lowest level in more than two years. Real GDP expanded by 2 percent in the first quarter of 2018 compared to the first quarter of last year. However, activity in the non-oil non-agricultural sector remains weak as lower purchasing power weighs on consumer demand and as credit risk continues to limit bank lending.

All Publications »