issue: 202 | 16 April 2017

Africa

Enko Capital launches Africa focused debt fund as it forays into continent

UK based asset management company Enko Capital has announced the launch of Enko Africa Debt Fund (EADF), with USD200m assets under management.

Enko Capital is an asset management company focused on investing in opportunities across Africa through three distinct platforms: Private Equity; Listed Equity and Fixed Income.

The EADF will invest solely in fixed income securities issued by corporates and sovereigns, denominated in local and hard currencies across Africa.

Alain Nkontchou, Managing Partner of Enko Capital said, “We are pleased to broaden our Africa-focused investment strategies to include a new debt fund which will give our investors an opportunity to capture value embedded within the African fixed income landscape. The launch of EADF leads Enko Capital Group closer to its ambition of becoming the leading pan-African asset manager.”

The EADF’s strategy is aimed at providing investors with exposure to Africa’s relatively high fixed income yield. Enko Capital Group currently manages the Enko Opportunity Growth Fund (EOGF) and the Enko Africa Private Equity Fund (EAPF).

The EAPEF is a private equity fund focusing on mid-tier companies that are suitable for listing on local stock exchanges within a few years from investment. The EOGF is an open-ended fund designed to provide investors with exposure to the best growth opportunities offered within the African equity markets.

Enko has offices in London and Johannesburg and is regulated by the Financial Conduct Authority in the UK and the Financial Services Board in South Africa.

Source: Africa Business Communities

Kenya

Kenya to benefit from deal with Qatar

Kenya has signed several agreements and Memorandums of Understanding (MoU) in various fields of cooperation with Qatar at the recently concluded forum in Nairobi that brought together businessmen from Qatar and Kenya. Among the agreements that were signed include in Education, Higher Education and Scientific Research and Cultural Cooperation.

According to officials of the Kenya National Chambers of Commerce and Industry, the effects of the agreements signed will be felt beyond national borders.

International Money transfer company Dahabshiil was one of the institutions that signed a MoU with the business delegation from Qatar.

Kenya and Qatar formally established diplomatic relations on December 28, 2003.  Kenya opened an Embassy in Doha, Qatar in 2010. Similarly, Qatar opened her resident Embassy in Nairobi in April 2012.

Qatar is one of the richest countries in the world in terms of Gross Domestic Product (GDP) with a per capita income estimated at USD 129,700.  Over the past decade Qatar has posted robust economic growth buoyed by strong hydrocarbons revenues, state-led infrastructure development and a stable financial sector.

Source: Daily Nation

Nigeria

U.S. and Enugu State discuss USD700 million solar plant project

The Foreign Commercial Service of the United States Diplomatic Mission to Nigeria concluded a four-day outreach to Enugu State that focused on expanding commercial ties between the U.S. and Nigeria, especially the South-east geo-political zone.

During the outreach which took place between April 4 and 7, a team of trade and commercial specialists from the U.S. Mission to Nigeria, led by Commercial Counselor Brent Omdahl, held meetings with Enugu State Governor Ifeanyi Ugwuanyi, state commissioners, and other senior cabinet-level officials on trade opportunities which would contribute to mutual prosperity and job growth for both countries.

Governor Ugwuanyi and Commercial Counselor Omdahl discussed U.S. investments in Enugu State, including the on-going USD700 million Motir DuSable solar plant project in the Nachi community of Udi local government area.  At full capacity, the solar plant will add 300 Megawatts to the national grid.

Source: This Day

Zimbabwe

China to partner with Zimbabwe local authorities

A delegation from various Chinese local authorities has expressed interest in joint venture partnerships with four Zimbabwean cities in tourism, food processing and tobacco farming and processing.

The five-member delegation included governor of Yanbian Prefecture Li Jinghao, director of Foreign Affairs in Yanbian Government Shen Zaicheng and Ding Changlu, the vice-general manager of Jinlin Tobacco Industrial.

The Chinese local authorities wanted to explore investment opportunities in the Harare, Ruwa, Epworth and Chitungwiza local authorities and expressed an interest in tobacco processing.

Source: The Herald



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