News & Events

According to an article published on the IFC site, when IFC first invested in Kenya’s Gulf African Bank in 2013, Islamic finance was a growing phenomenon in Sub-Saharan Africa. Gulf African Bank was among only a handful of financial institutions in East Africa to offer sharia-compliant financial products. IFC supported Gulf African Bank’s new model by providing $5 million equity and a $3 million trade finance line.

A year later, Islamic financial institutions have gained a firmer foothold on the continent.  Nigeria, now Africa’s largest economy, and Sudan, have joined the $ 100 billion annual market for sukuk, or Islamic bonds; while Senegal and South Africa are set to follow soon.

IFC, a member of the World Bank Group, on May 7 announced an investment of $172.5 million in FirstRand Bank Limited. The transaction represents the first cross-border investment in Basel III Tier 2 instruments in South Africa, and one of the first globally in emerging markets.  The debt will be provided by IFC Capitalization Fund, which is managed by the IFC Asset Management Company.

Andries du Toit, FirstRand group treasurer said, “This significant financing from IFC Capitalization Fund is expected to provide support to our strategy to grow lending to small and medium sized entities (SMEs) in South Africa and the rest of Africa.”

On VENTURES AFRICA, a Kenyan financier talks about opportunity and investment in the business of education.

The first thing a visitor to the Fanisi Capital boardroom notices when he walks in is a big black television and, below the television, a picture. It is an interesting one to look at: the people in it – students and teachers, presumably – are of every race, skin and hair colour, all smiling. The lawn in the foreground is lush and well manicured. Palm trees rise above the smiling faces, flanking seven thatched roof peaks. It could be a picture of a “Young United Nations” conference on a tropical island. The only thing that shows it is not the UN is a school crest. Hillcrest Investments Limited (HIL) currently owns the school in the photo, as well as its sister schools on the same campus.

Image courtesy of africa / FreeDigitalPhotos.net

According to an article published on VENTURES AFRICA, the US-based TIME Magazine’s most recent publication, The 100 Most Influential People, which profiles global shakers, draws a collection of iconic names. From controversial entertainer Miley Cyrus, who has received a rave of criticism for her recent over-expression of sexuality, to political juggernauts like North Korea’s leader Kim Jong-Un, whose every breath is keenly watched by global leaders, the names on the list draw from all facets.

But what does the list – which reserved 8 slots for 10 Africans – mean for the African continent?

Image courtesy of Salvatore Vuono / FreeDigitalPhotos.net

According to an article published on Science|Business, leading entrepreneurs working to commercialise publicly-funded university research point to a lack of understanding of how IP should be shaped and protected to ensure commercial success.
More training in the generation, management and protection of intellectual property (IP) is needed to protect and nurture Europe’s investment in university start-ups, and deliver on their potential to create jobs and boost economic growth, according to a survey of some of Europe’s leading entrepreneurs.

According to an article published on The African Business Review, there is an increasing international perception that Africa is standing now at a turning point. It has become one of the world’s top growth areas (5.6% per annum) thanks to the structural reforms being put in place and its demographic dividend for the next 40 years.

Accoridng to an artcile published on VC4Africa, the 2013 Global Limited Partners Survey, released this week by the Emerging Markets Private Equity Association (EMPEA), indicates Sub Saharan Africa as the most attractive market for private equity investments. The study surveyed institutional investors to hear their attitudes toward private equity investing in emerging markets.