Following rising demand for commercial space and housing for middle-income and young professionals in Nigeria, the nation’s real estate market has continued to grow with the sector now valued at N6.4 trillion ($41.2 billion). According to a report by Agusto & Co., the Lagos sub-segment of the market accounts for at least 40 per cent of the Nigerian market. Growth, the report revealed, continues to be driven largely by new to market residential and commercial properties in Lagos, Abuja and Port Harcourt.
Updated 5 Years ago

Globally, women disproportionately face financial access barriers that prevent them from participating in the economy and from improving their lives. Women make up 40 per cent of the world’s workforce. Many of the sectors that are critical for economic growth in some of the poorest countries rely heavily on women. Small and medium scale enterprises (SMEs) with female ownership represent 30 per cent to 37 percent of all SMEs (8 million to 10 million women-owned firms) in Nigeria and other emerging markets. These businesses, according to a recent World Bank report, have unmet financial needs of between $260 billion and $320 billion a year across the globe.
Updated 5 Years ago

This is according to Steve Harley, President, DHL Energy Sector (http://www.dpdhl.com), who says that while Angola and Nigeria have always been the most notable producers within the Sub-Saharan region, more recently, significant gas discoveries in Tanzania and Mozambique, has led to East Africa now receiving its share of attention from global oil companies and potential investors. “Oil discoveries in Uganda and Kenya have also added to the excitement in the sector as new players look to enter these markets, including some of the largest independent and international oil companies, otherwise known as the super majors, who are now also witnessing the potential in this region.”
Updated 5 Years ago

Suresh Kana, PwC Africa Network Territory Senior Partner The investment is part of PwC’s ongoing strategy to develop high potential markets, and follows the UK firm’s successful investment in Central and Eastern Europe. Ian Powell, UK Chairman and Senior Partner, commented:
Updated 5 Years ago

Mondi, the Johannesburg and London-listed packaging and paper group, on Tuesday said it is expecting to post solid profits in the six months to June this year. Mondi said basic underlying earnings a share were likely to between 46 Euro cents and 51 Euro cents from 35.3 cents in 2013.
Updated 5 Years ago

JSE-listed explosives and gas firm, AECI, on Tuesday said the prolonged platinum strike and South Africa’s under- performing economy had negatively impacted its business in the six months to June this year. Platinum companies have become important customers of AECI as the company drives its mining solutions strategy.
Updated 5 Years ago

Following the successful buyout of three Shoprite Tanzania stores two months ago, Kenya’s largest supermarket chain, Nakumatt Holdings has officially opened one of the stores at Mlimani City Mall in capital city, Dar es Salam. The Sh4 billion ($46 million) acquisition of the three stores from South Africa retail giant gave Nakumatt leverage to re-establish its presence in the Tanzanian retail market after it opened its first outlet in 2011. The three stores acquired by Nakumatt are located in Mlimani City mall, Puga Road in Dar es Salam and in Arusha.
Updated 5 Years ago

Ten months after opening its first local factory in Egypt, Samsung Electronics says it will invest $20 million over the next four years to develop a new television factory in Dube TradePort, South Africa. Located in the KwaZulu-Natal province, Dube TradePort is one of the special economic zones the South African government is setting up to boost investment. The business hub is scheduled to launch before the end of the year.
Updated 5 Years ago

Middle East investment in Europe rose by 25 per cent year-on-year during the first half of this year to reach $7.9 billion, according to a report by Colliers International. Total cross border investment in Europe rose by 32 per cent to top €44 billion, while capital from the Middle East accounted for 13 per cent of investment coming from outside Europe.
Updated 5 Years ago

Boeing has this year raised by seven per cent its forecast for global demand for commercial airline pilots to 533,000 over the next 20 years, citing rising deliveries of aircraft and buoyant demand from the Asia Pacific. The airplane manufacturer has also projected a need for 584,000 technicians in the 20 years to 2033, up five per cent from last year’s forecast.
Updated 5 Years ago