VENTURE CAPITAL POST

For the past 18 months, small and medium enterprises (SMEs) in Africa bagged $10 million in investment from London, UK-based non-profit business development organization African Private Equity & Venture Capital Association (AVCA).

US tech giant Microsoft selected five African tech startups to receive innovation grants, technical support, and mentorship from Microsoft under its venture arm extension, the Microsoft 4Afrika Initiative.

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.

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.

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.

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.

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.

Due to high costs of operations and low returns, Woolworths opts to close down stores in Nigeria.

Nigerian President Goodluck Jonathan handed control of 14 power companies formerly owned by the state to private investors.

President Uhuru Kenyatta's office said Africa's richest man Aliko Dangote would invest in a USD 400 million cement factory in Kenya.

The Federal Government of Nigeria lost USD 40 billion in downstream infrastructure investments for 76 non-producing oil leases.

The Nigerian federal government created a committee to enhance both private equity and venture capital investments across the country.

Nigerian Minister Aganga said the government wanted to build a venture capital sector.

Nigerian Minister Aganga said the government wanted to build a venture capital sector.

Sinosteel was in talks with Nigerian ministers for about US$6 million worth investment in Nigerian steel mill.