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UAC Property Development Company Reports ₦1.78bn Loss for FY:2016

UAC Property Development Company (UPDC) reported a loss before tax of ₦1.78 billion for the year ended 31 December 2016, down from a ₦55.9 million profit in the preceding year. Despite a 23% increase in revenue to ₦6.34bn, rising cost of sales (+44%)  and ‘Other Losses’, which added a negative blow of ₦1.7bn meant that a profit […]

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Listed Real Estate in Eastern Africa and Beyond – What Next?

East African property markets have demonstrated desirable levels of resilience over the past few years. As African economies including Angola, Nigeria, Zambia and Ghana have reeled from commodity price induced recessions, better diversified countries in the East African region including Kenya have demonstrated strength. The region has seen investments from the major players such as Actis […]

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African Private Equity Fundraising Falls 47% in 2016

New data published by the African Private Equity and Venture Capital Association Africa (AVCA) demonstrated that the total value of private equity deals in Africa rose by 40% between 2015 and 2016. According to the AVCA, $3.8bn worth of private equity deals were concluded in Africa during 2016, an increase of $800m to the $2.5bn […]

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UAC Property Development Company Issues Profit Warning for Year End 2016 Results

Following a preliminary review of their Management Accounts for the year ended 31st December, 2016, UAC Property Development Company (UPDC) issued a profit warning outlining that they expect to report materially lower earnings. The reasons for the lower earnings include the recognition of losses on certain projects as well as impairment of investments in a joint venture […]

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Almost Half of All Private Equity Exits in West Africa from ’10 – ’16 H1 were in Nigeria

According to new research published by the AVCA, Nigeria accounted for 42% of all private equity exits by number in West Africa from 2010 – 2016 H1. Overall, there were 83 PE exits in West Africa over the period, and Ghana and Côte d’Ivoire followed afterwards at 17% and 14% respectively. Key exits highlighted include […]

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New Sale Reports Added

New sale reports have been published showing transactional details on the acquisition or disposal of investment grade commercial properties in Sub Saharan Africa. The transactions covered include: Mövenpick Ambassador Hotel Accra – Ghana (2016) Mall de Tete, Tete – Mozambique (2016) View the sale reports.

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Finnish Private Equity Investor Increases Exposure to East African Real Estate

Taaleri, a Finnish financial group, is increasing their exposure to East African real estate by continuing their alliance with Cytonn Investments and partnering with East African real estate investment and private equity firm, Fusion Capital. The Helsinki listed group has subsidiaries in wealth and asset management, private equity, insurance as well as other financial services. In […]

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Initial Public Offer for Top Services Limited’s ₦20bn REIT Approved By NSE

The Nigerian Stock Exchange, last week, approved the application by Top Services Limited for an initial Public Offer for Top Services Limited Real Estate Investment Trust (TSL REIT). TSL REIT plans to raise ₦20bn by offering 20,000,000 units at ₦1,000.00 per unit, however no official statement from SEC has been released. They intend on running a retail […]

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Nigerian Sovereign Wealth Authority Allocates $18.1m to Actis and ACA Funds

The Nigerian Sovereign Wealth Authority (NSIA) made a capital commitment of $18.1m to Actis Africa Real Estate and African Capital Alliance according to their 2015 year end financial statement. The capital comes from the Future Generations Fund (FGF) which has a 25% private equity allocation and was created by the NSIA Act 2011 to become operational in 2012. Once […]

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Tracking private equity deal activity in Africa

Real estate and private equity market players discussed deal activity in the African private equity sector on CNBC Africa yesterday following the publication of the H1:2016 African Private Equity Data Tracker by the African Private Equity and Venture Capital Association. Watch Ponmile Osibo, Manager for Research and Training at the African Private Equity and Venture Capital Association; Funke Okubadejo, […]

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