May 4, 2011

Funds

Kingdom Zephyr expands into Nigeria

Leading Africa private equity firm Kingdom Zephyr Africa Management Company announced the opening of its new office in Lagos, Nigeria. It has $615 million under management and operates out of Accra, Johannesburg, Lagos, London and New York.

Other Countries

Vital impact PE fund raises $250 m and invests in Angolan housing

A private equity fund that does “impact investing” in housing, agriculture, education and health says it has raised more than $250 million for its first fund, Vital Capital Fund I. It says it aims to invest in Angola, Ghana and Mozambique.

Funds

Funds flows into African private equity – $1.5bn in 2010

Funds inflows into private equity in sub-Saharan Africa including South Africa (SSA) were $156 million in the first quarter of 2011, according to research by the Emerging Markets Private Equity association. In 2010 fund-raising had soared to $1.49 billion.

Funds

ECP announces new CIO for giant African private equity fund

Pan-African private equity specialist Emerging Capital Partners today announced that Andrew Brown is appointed Chief Investment Officer (CIO) in a new position. He will join the investment committee of the $613 million ECP Africa Fund III, which closed in June 2010 and has made 4 investments.

Funds

Africa climbs as attractive private equity destination, survey

Africa is soaring in its attractiveness to global private equity investors. Over the next 2 years, nearly 30% of global LPs plan to expand PE investments in sub-Saharan Africa (including South Africa) and nearly another 10% plan to start investing. This puts Africa is ahead of markets such as Turkey, the Middle East and North Africa region, Russia/CIS, and Central and Eastern Europe.

Exchange news

Ethiopia aims for IFRS for medium and large enterprises

A panel is working on a proposed bill, the “Financial Report Proclamation of Ethiopia”, which could bring fundamental changes to Ethiopia’s financial reporting system by requiring compliance with international financial reporting standards (IFRS).