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A.P. Moller Capital reaches $865m in commitments for its Africa Infrastructure Fund

With fresh committments from Danish pension funds and insurance companies, A.P. Moller Capital’s Africa Infrastructure Fund has had its 2nd close with total commitments now reaching USD 865m. The fund was launched in August 2017 with commitments of USD $550 million from large Danish pension fund anchor investors including PKA, PensionDanmark and Lægernes Pension. It also received […]

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Hilton Garden Inn Expands in Early 2018 with Four New International Properties

Hilton Garden Inn is continuing its expansion into strategic African destinations through its foray into Kenya and other key emerging markets in the Middle East and Latin America. These openings will build on the brand’s 2017 momentum in which one-third of new openings were in international destinations. This included key markets such as Kuala Lumpur, […]

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Marriott Signs Deal to Manage First Ever Golf Resort in South Africa

Last month, Marriott Golf, the global golf division of Marriott International, Inc., announced it had signed a deal to manage yet another golf resort property. The Arabella Golf Club is the latest addition to Marriott’s golf resort portfolio. It is Marriott’s first-ever managed golf resort property in South Africa. The move, affirms Marriott’s long-term commitment […]

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Residential project in Rendeavour’s Ghanaian urban development gains traction

Rendeavour announced via press release that The Oxford, Appolonia City’s first turnkey residential development, has sold 85% of its first phase, with a group of homeowners expected to move in this year. The Oxford is a residential estate within the Appolonia City’s mixed-use development, with plans for 420 houses across a total area of 20 hectares (49 acres). […]

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Shoprite will launch its flagship Kenya Store and 92 others across Africa over 18 months

Shoprite CEO Pieter Engelbrecht on Tuesday outlined a plan to open seven new stores in Nairobi in the coming months. The first store will be at the Westgate Shopping Mall and the retailer has commenced a fit-out for the 4,624m² (49,770 ft²) flagship store which will carry the latest Checkers specification to suit. The store […]

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MTN, CCECC and Madison Capital will be moving into Roma Park in Lusaka

MTN, China Civil Engineering Construction Corporation (CCECC) and Madison Capital will be moving into Roma Park, a 120 ha. mixed-use urban development by Rendeavour located in Lusaka, Zambia. MTN’s new head office will take up 4,500sqm of land in the park as they plan to move away from their HQ in Rhodespark, while CCECC’s new […]

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IFC Invests $3m to help Kenyan pharmacy create regional retail chain in East Africa

Late last month the International Finance Corporation (IFC), a member of the World Bank Group, announced an investment of $3 million in Goodlife Pharmacy Limited, a Kenyan pharmaceutical retail chain. The investment was made to help the company expand to more than 100 stores within four years to create a Pan-East African retail pharmacy chain. Goodlife currently […]

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Kenya’s First Modern Logistics Centre Attracts E-commerce FMCG distributor

Copia Global, a fast-growing online FMCG distributor operating in the US and Kenya has signed a long-term lease with Africa Logistics Properties (ALP) for 4,500 sqm of its flagship logistics and distribution complex in Tatu Industrial Park, Kenya. ALP announced the deal via a press release on February 6, 2018. The 50,000 sqm complex, which […]

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Actis sells stake in Kenyan construction management company to Turner & Townsend

Leading growth market investor Actis, today announced via a press release that it has agreed to sell its stake in Mentor Management Limited (MML) a Kenyan project management company, to Turner & Townsend, a UK-based real estate construction and advisory firm. The deal, still subject to regulatory approval, will see Turner & Townsend acquire Actis’ […]

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Nigeria requests to host the African Development Bank’s Regional Office

During the commissioning of the African Development Banks’ new office complex in Abuja earlier this month, Nigeria’s Finance Minister, Kemi Adeosun relayed a formal request by the Nigerian Government to host the AfDB’s West African regional hub. Counting on Nigeria’s shareholding position in the bank, she said: “I [would] like to put on record Nigeria’s […]

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