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Mortgage Warehouse Funding Limited to issue ₦20Billion Commercial Paper

In November 2017, FMDQ approved the registration of the ₦20.00 billion Mortgage Warehouse Funding Limited (MWFL) Commercial Paper (CP) Programme to the platform of the OTC Exchange. The MWFL initiative was created with the objective of providing short-term viable funding to listed member mortgage banks. It will provide short term financing through the issuance of […]

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Maryland Mall Receives $12.5m in funding from Vantage Capital

Earlier this week Vantage Capital announced that it provided $12.5 million of funding to Purple Capital, the developers of Maryland Mall. According to Purple Capital, the new capital will enable them ‘reset, consolidate and gear up for exciting opportunities in the future’. Maryland Mall is a 6,000m² neighbourhood shopping centre in Maryland, Ikeja that has been […]

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Old Mutual Launches 3rd International Private Equity Fund of Fund with $300m Target

Old Mutual Alternative Investments (OMAI), Africa’s largest alternative investment manager, is launching its third International Private Equity Fund of Funds (International FoF III) with a target size of US$300 million. The fund will be open to new investors for up to 30 months and will run for 12 years after the initial closing date, plus a […]

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East African Asset Manager Receives Kenya’s 3rd REIT License

Kenya’s capital market regulator has granted the asset management subsidiary of Britam Holdings Plc (Britam) a license that enables them operate a Real Estate Investment Trust. Britam is a diversified financial services group with operations in Kenya, Uganda, Tanzania, Rwanda, South Sudan, Mozambique and Malawi. The group has interests in the insurance, asset management and property […]

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Co-Owner of Ikeja City Mall Plans to Convert to REIT by 2018

Attacq, co-owners of Ikeja City Mall in Lagos – Nigeria, have commenced the process of aligning their existing portfolio to their long-term strategy as they prepare to convert into a Real Estate Investment Trust. As reported by South African news outlet Business Daily, the investment strategy will on focus Midrand in South Africa, the rest […]

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Lagos State Government raises N85bn in Bond Issuance to Fund Infrastructure Projects

The Lagos State Government has announced the closure of the N85,140,000,000 Series 2 Bond Issuance geared towards improving the physical and social infrastructure in the State. Commissioner for Finance, Mr. Akinyemi Ashade in a statement, said the Bond was issued in two tranches of N46,370,000,000 16.75% Tranche 1 maturing August 2024 and the N38,770,000,000 17.25% Tranche […]

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A.P Moller Raises $550m for Africa Infrastructure Fund and Targets $1bn in 12 months

A.P. Moller Holding, a privately held investments company with approximately $20bn under management has launched a new infrastructure fund with a focus on Africa. The fund has received commitments of $550m from large Danish pension fund anchor investors including PKA, PensionDanmark and Lægernes Pension. Following first commitments, the fund will be open for additional institutional investors for […]

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Real Estate Investment Vehicles Among New Industries Added to Pioneer List

The Federal Government has lifted the administrative suspension on processing Pioneer Status Incentives (PSI) applications and has announced the release of new guidelines for PSI applications as well as a revamped list of pioneer industries and products. Included in the new list are two key elements relevant to the property sector: Real Estate investment vehicles under […]

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Flagship Infrastructure Debt Fund Lists on FMDQ OTC Exchange

Subsequent to receiving required approvals from the Securities and Exchange Commission, Chapel Hill Denham Management has registered and established the Nigeria Infrastructure Debt Fund (NDIF) ₦200bn Issuance Programme. The first series under this issuance programme (Series I: 49,450,000 units of ₦101.20 each) worth over ₦5bn has been issued with 14 investors already making commitments. The […]

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Abraaj Zero in on African Retail Sector through Java House Acquisition

Global emerging market private equity investor, Abraaj Group, has set sights on the African consumer and her retail sector through its agreement to purchase 100% of African coffee chain Java House from Founder Kevin Ashley and Emerging Capital Partners (ECP) earlier this month. Earlier in the year it was reported that other private equity investors including […]

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