Africa

Vasari chief grabs majority stake in South African spirits firm TNB

Former Whyte & Mackay chief Vivian Imerman grabbed a majority stake in South Africa-based spirits firm TNB through his own company Vasari for an undisclosed sum to expand his portfolio of liquors and spirits.

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African mineral exploration poised to drop amid lack of funding sources

African mineral exploration activity is poised to drop by 15% to 20% in 2014 as sources of funding have dried up due to difficult economic problems, according to David Cox, senior sales executive of SNL Metals Economic Group.

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General Electric Co CEO Jeffrey Immelt asks private investors for more investment in African healthcare

General Electric Co Chief Executive Officer Jeffrey Immelt has asked private investors to pour more funds in African nations where government-run services have been strained, Bloomberg reported.

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Ventureast invests $3M in Indian medical device startup OneBreath

Ventureast Tenet Fund, together with angel investors, invested $3 million for the expansion of Bangalore, India-based medical device maker OneBreath into India, Eastern Europe, and Africa.

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Standard Chartered private equity arm picks up $6M stake in Botswana;s grocery chain

The private equity arm of London-based banking firm Standard Chartered picked up a 13% stake in Botswana-based supermarket chain Choppies Enterprises in a deal valued at $6 million.

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Nigeria's Oando confirms raising $1.63B for Conoco assets acquisition

Nigeria-based energy firm Oando Plc said it closed $1.63 billion to purchase the assets of US-based firm ConocoPhillips in the country, in a bid to become the top producer for the biggest oil exporter of Africa.

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British biotech firm QuantuMDx turns to crowdfunding to develop handheld malaria diagnostic device

British biotechnology startup QuantuMDx turned to crowdfunding platform Indiegogo to raise funds for the development and commercialization of a hand-held device that can diagnose malaria rapidly.

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Dubai's Arabtec denies Depa stake hike plans

Dubai-based construction company Arabtec Holding had no plans to up its stake in interior contracting firm Depa, according to a statement made by Arabtec to Dubai's bourse.

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Africa's richest man to invest $9 billion on Nigerian oil refinery

Aliko Dangote, Africa's richest man with about $22 billion net worth, is set to spend $9 billion to build the largest privately-owned oil refinery in Nigeria.

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Dangote pushes for $16B investment in cement, agriculture, industrials

Aliko Dangote, the richest man in Africa and Chief Executive of Nigerian company Dangote Group, plans to invest around $16 billion in cement, agriculture, and petrochemicals project in 18 countries over the next four years.

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Pearson fund invests in India-based education startup

UK-based investment fund Pearson Affordable Learning Fund has backed Delhi-based education startup Avanti Learning Centres to develop a system that will help students from low-income families prepare for college entrance tests.

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Protea bets NGN11.13 billion in Nigeria's hospitality industry

Protea Group has invested NGN11.13 billion (over USD70 million) for the development of more hotel brands in Nigeria, according to the group's chief executive officer.

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Africa brought in over $2B in closed private equity funds -report

Africa-focused private equity (PE) fundraisers have secured more than USD2 billion from January to September, according to Private Equity Africa, a publication for fund managers and investors.

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Trafigura divests stakes in African unit Puma for USD500 million

Switzerland-based Trafigura Beheer BV had put up for sale its stake in Puma Energy for USD500 million. Trafigura sold a part of its interest in the African unit to Angola's Sonangol Corporation and Cochan Ltd.

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Exhilway closes USD200 million mines and minerals private equity fund

US-based private equity fund Exhilway Global has closed USD200 million for its mines and minerals private equity fund that will operate in Indonesia, Turkey, and Kazakhstan.

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