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Custodian Investment set to acquire 51% of UACN Property Development Company

On Monday the 3rd of August, UAC of Nigeria PLC (UAC) announced that a binding agreement with Custodian Investment PLC (Custodian) was signed for the purchase of a 51% equity interest in UACN Property Development Company PLC (UPDC).  This transaction is a major change and a new era for UPDC, which operated first as a […]


Actis-backed Education group acquires Nigerian University

Honoris United Universities, an Actis backed pan-African education group with universities in Tunisia, Morocco, Mauritius, South Africa, Zimbabwe and Zambia has made its entry into West Africa, through Africa’s largest economy, with the acquisition of Nile University of Nigeria. Nile University, previously owned by First Surat Nigerian Ltd, owners of Nigerian Tulip Schools, is a […]


UACN Property Development Company Plc Raises N16bn, Prepares for Unbundling & Positions for Growth

On the 2nd of June, 2020, UACN Property Development Company Plc (UPDC) held a virtual closing gong ceremony to mark its successful N16bn Rights Issue at The Nigerian Stock Exchange. The offer which was oversubscribed indicates investor confidence in the company’s future growth prospects. The company announced a restructuring plan in September 2019 and proceeds […]


Growthpoint Investec African Properties acquires RMB Westport

Growthpoint Investec African Properties (GIAP), initially established as a joint venture between Growthpoint Properties and Investec Asset Management, announced on Dec. 12th that it has successfully concluded the acquisition of 100% of RMB Westport Real Estate Development Fund Limited (RMB Westport), the entity which houses the assets developed and owned by RMB Westport’s inaugural property […]


STANLIB Kenya to sell management rights of Stanlib Fahari I-REIT to ICEA Lion

STANLIB Kenya Limited (SKL) plans to dispose of its investment management mandates, rights, and obligations for STANLIB Fahari I-REIT to ICEA Lion Asset Management Limited (ILAM). However, ILAM will not assume any debts or liabilities of SKL in connection with or related to its REIT.  As stated in the announcement: “The assets being acquired by […]


Everty acquires Cornerstone Tower from African Capital Alliance

Earlier today, African Capital Alliance (ACA) announced the sale of Cornerstone Tower, a 12,000m2 building in Oniru, Lagos, to a company called Everty. The property was developed by the Capital Alliance Property Investment Company, ACA’s pioneer Real Estate Fund in a joint venture partnership with Cornerstone Insurance Plc. and Fin Insurance. With this exit, the […]


‘Africa Re-Inspired’ – Notes from the 2019 African Property Investment Summit in Jo’burg

The 10th edition of the African Property Investment Summit was held in Johannesburg earlier this month. It brought together over 500 of Africa’s top dealmakers and service providers, who have driven and supported transactions on the continent over the past decade. The theme of the event, ‘Africa Re-Inspired’, sought to document the progress of the […]


Shopping Centers Affected in Nigeria by Xenophobic Related Attacks

Updated: Thursday, September 5th 2019. Maryland Mall was not closed, the activity column has been updated. Status of Palms Ibadan and Palms Ilorin has been reviewed to unconfirmed. As a response to Xenophobic attacks on Nigerians in South Africa, disgruntled Nigerians took to the streets to protest against, loot and vandalise retail businesses, some of […]


Santa Clara Medical: AXA Mansard, IFC and ACA’s Hospital Project Halted

AXA Mansard’s plans to sponsor the development of a 150-bed acute care hospital have been placed on hold according to information provided in their 2018 financials, citing unforeseen circumstances as the reason for the halt in plans. Santa Clara Medical Limited, the Special Purpose Vehicle (SPV) created to fund the project was promoted by AXA […]


Actis returns to market with $1.23 billion Infrastructure Fund

Actis has announced that it completed fundraising for the flagship Actis Long Life Infrastructure Fund (ALLIF). The ALLIF fund was raised by the in-house team at Actis and represents over $1.23 billion of fund commitments. Along with co-investment, it delivers up to approximately $2 billion of investable capital for this new strategy. The fund is […]


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