Private Equity and the growth of pension funds provide a massive opportunity to finance investment

MARRAKESH: Africa may be flavour of the month but in relative terms still attracts a small percentage of Private Equity and international investment capital. In a plenary at the Africa Development Forum in Marrakech focusing focused on Private Equity, Mike Casey, the Founding Director, EMPEA Consultingpointed out that last year, about $300 billion was raised globally for private equity. Of that, 12 per cent was reserved for emerging markets, and of those 12 per cent ($38 billion), 3 per cent ($1.2 billion) was for Africa-focused funds.

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Africa must generate resources from within its economies

MARRAKESH: Africa is growing at a steady rate and is on the path to sustainable long-term growth, opening up a number of investment opportunities. In fact, one-third of Africa’s countries have GDP growth rates of more than 6%. However, as discussed at the ECA’s Ninth African development Forum, the resources required for Africa’s sustainable development will not come from aid. Africa must look within, generating financial resources from its own economies.

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Africa will be trading predominantly with partners from the South by 2020

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MARRAKECH: Prior the economic crisis, Africa’s share of trade with other emerging markets was a mere 30%. Today that has gone up to nearer 50%, and by 2020, on current trends that could be as much as 70%.

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Financial Results For The Nine Months Ended 30 September 2014

  • Net Profit exceeded QR8.0 billion, up by 12.6% from September 2013
  • Total Assets stood at QR475 billion, up by 8.8% from September 2013
  • Net Loans and Advances up by 8.1% from September 2013 to reach QR329 billion
  • Total Customer Deposits up by 6.4% from September 2013 to reach QR352 billion
  • Earnings per Share reached QR11.4, compared to QR10.2 in September 2013
  • Total Shareholders’ Equity increased to QR56 billion, up by 10.0% from September 2013
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Cairn Energy makes significant oil discovery offshore Senegal

Cairn Energy has discovered large volumes of oil in the deep waters offshore Senegal. The company’s 40%-owned FAN-1 exploration well has found between 250mln and 2.5bn barrels of in-place oil, according to initial estimates.

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ECA and CODESRIA sign collaboration agreement

The Economic Commission for Africa (ECA) and the Dakar-based Council for the Development of Social Science Research in Africa (CODESRIA) have entered into a collaboration agreement, which will foster their objectives to transform into more rigorous and responsive centers of excellence in support of Africa’s transformative agenda. 

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World Bank report: more work needs to be done to end poverty

WASHINGTON, October 8, 2014 – Much more work needs to be done to end poverty and close the gap in living standards between those in the bottom 40 percent and the top 60 percent of the population around the world, says the Global Monitoring Report 2014/2015, released today by the World Bank and International Monetary Fund (IMF).

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Oracle Launches Capacity-Building Programme to Close IT Skills Gap in Africa

CAPE-TOWN, South-Africa, October 8, 2014/ – Oracle Corporation (http://www.oracle.com) today announced an initiative designed to enrich and increase the skills capacity of IT practitioners in Africa. The four-pronged program was devised as a response to the rapid adoption of new technologies by governments and businesses in Africa, exacerbating the shortage of suitably skilled practitioners to use the systems to best advantage.

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PROPARCO and FMO support Access Bank (Ghana) Ltd’s lending activities

PROPARCO and Access Bank (Ghana) Limited have signed a USD 40m credit facility with a 7-year maturity, in cofinancing with FMOand arranged by PROPARCO.

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Kenya: Equity Bank determined to challenge M-Pesa monopoly

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NAIROBI, Kenya, October 7, 2014/ – Today, Taisys Technologies Co., Ltd. (http://www.taisys.com) announced that Kenya’s leading bank Equity Bank will be issuing a ultra-thin mobile banking smart SIM with patented technology from Taisys.

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