Editor’s note

Consumer spending in Africa is expected to roughly double by 2020 and give rise to a nascent middle class.Morocco,Ghana,Tunisia,Nigeria,Ivory Coast,Mozambique,Kenya ,Rwanda should among the economies experiencing such a trend.

In some other news ,Nigeria is thinking about the establishement of a sovereign wealth fund.

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Post tags: africa middle class, Nigeria, Rwanda, Sovereign wealth fund

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Nigeria bans sale of unregistered Sim Cards [Story]

Zain Kenya, now owned by Bharti Airtel, is set to roll out 3G services in Kenya after it was granted a vlicence by the Communications Commission of Kenya (CCK). [Story]

TedXAbuja & TedXVictoriaIsland [Story]

Jobberman has just announced the release of their mobile version which allows jobseekers to get real-time information about the latest jobs in town right from their mobile phones. [Story]

Adlevo Capital announced its first closing of a $52 million capital commitment focused on technology-enabled businesses across sub-Saharan Africa, particularly in Nigeria and South Africa. [Story]

Gmail is available in Swahili and Amharic, adapting to over 100 million speakers located in East and Central Africa, and in the Diaspora.[Story]

Africa’s collective GDP, at $1.6 trillion in 2008, is now roughly equal to Brazil’s or Russia’s. [Story]

Zoopy the South African social media platform has created a new iPhone application. [Story]

New regional air carrier, doing what Africa needswhich is point-to-point services.[Story]

Cresta Marakanelo, Botswana’s largest hotel operator, is on track for a June 17 listing on the Botswana Stock Exchange (BSE) judging by enthusiastic public response to the sale of 62,9 million shares in the company by Botswana Development Corporation (BDC).[Story]

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Post tags: Africa, Bharti Airtel, Botswana, Botswana Stock Exchange, Central Africa, Communications Commission of Kenya, Cresta Marakanelo, Kenya, Mobile phone, Nigeria, South Africa, Sub-Saharan Africa

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Lagos Stock Exchange .

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Post tags: Business and Economy, Financial Services, Investing, Stock Exchange, Stocks and Bonds

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Date: Monday 2nd November 2009

Venue: London Stock Exchange

Financial Times Global Events, in partnership with This is Africa magazine and the Emerging Markets Private Equity Association (EMPEA) are pleased to present ‘Private Equity in Africa’, a one-day executive summit designed to support private equity limited partners (LPs) in their efforts to better assess the opportunities presented by private equity in Africa.

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Post tags: Africa, business, Business and Economy, Emerging markets, Financial Services, Financial Times, London Stock Exchange, Private equity, Venture capital

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Citadel Capital is the largest private equity investor in Africa and the seventy-fifth largest globally, according to Private Equity International’s PEI 300, an annual ranking of the largest international private equity firms based on funds raised in the previous five years.

In the same period, the firm has generated US$ 2.2 billion in cash returns to investors, more than any other private equity firm in the MENA region.

Current Investments

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[Omegascorpi]

• Actis Appoints New Head of West Africa Operations (omegascorpi.com)
• Stock Trading Goes Mobile in Kenya (omegascorpi.com)
• Imara (omegascorpi.com)

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Post tags: Actis, Africa, business, Financial Services, Investing, Kenya, Private equity firm, Venture capital

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What does it mean to E-commercant in Kenya ? Well they should be able now to sell their online products and services against payment via this secure and direct  system.So much for Paypal not allowing African E-retailer into the global game of commerce over the internet.

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Post tags: Africa, Bank account, business, Business and Economy, Financial Services, Kenya, M-banking, M-money, M-Payment, M-Pesa, Mobile phone, Remittance, Safaricom, Shilling, Shopping, Western Union, Zain, Zap

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FINANCIAL
-2009 turnover of Kshs. 71.829 billion (~$945 million), and operating profit of 4.04 billion, pre-tax loss of 5.66 billion ($74.5 million) owing for fuel hedging.Compare to the 2008 numbers was saw turnover of Kshs.60.47 billion and a pre-tax profit of Kshs. 6.52 billion.
- 76,703 shareholders, 35 243 who have immobilized their accounts.
- KQ has become more sensitive to fuel price changes and less sensitive to currency fluctuations – a 1% increase/decrease in fuel impact the profit by 269 million ($3.5 million). Report does not mention who fuel hedge partners are , but hedges ran up to December 2010.
- KA 49% stake in Tanzania’s Precision Air brought in 62 million in profit

-KA has loans of Kshs.32 billion (with 23 billion or ~$303 million) owed to Barclays, also from ABN Amro and EXIM Bank USA – all at rates between 4.5% and 6.6%

NON-FINANCIAL

-KA website receives 230,000 visits per month and sales resulting from the visits have passed $10 million ( 1% of a year sales)

-KA established an SMS alerrt number No. 7767 is that passengers can use to get information of flight status, delays, cancellations etc.

- On time flights have gone up amid zero tolerance policy on delays

Kenyan Airways who now has 4,240 employees of which ,340 are pilots and 850 are cabin crew members.

Read more .

Editor note KA has social media presence via twitter @kenyaairways Kenya Airways on Facebook,KA on Youtube,KA on Flickr.

Kenyan Airways is traded on the Nairobi Stock Exchange

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Post tags: Africa, Barclays, Business and Economy, Export-Import Bank of the United States, Kenya, Precision Air, Society and Culture, Tanzania, United States

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“The loan books are 80-85 percent commercial, versus 10-15 percent on the retail side…the only place where banks will actually maintain a good net interest margin and make good money is with the consumer.”

Some facts: Ghana home loans increased from $2.4m in 2002 to $44.1m in June 2008

Kenya, Ghana and Nigeria are all setting up a regulatory framework for the establishment and management of credit bureaux

Source:TIA

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• African Board (omegascorpi.com)

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Post tags: Africa, Botswana, Business and Economy, Economy, Ghana, Government, Growth, Investment, Kenya, Nigeria, Real estate, Real Estate Investment, Real estate opportunities, Tanzania, Uganda, Zimbabwe

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-ZAIN Kenya said it expects more subscribers to use its data services owing to reduced costs.Read more

The chief executive officers of Intercontinental Bank Plc, Mr. Erastus Akingbola; Sebastine Adigwe of AfriBankPlc; Okey Nwosu of Finbank Plc; Mrs Cecilia Ibru of Oceanic Bank Plc and Barth Ebong of Union Bank Plc were asked to step down from their respective position and are being replaced.Read more

The city of Kigali is gearing up for the public offer of city bonds amounting to Rwf300 billion ($526.3 million), to be raised in eight years, with annual coupon interest between 11% and 12%.Read more

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Post tags: Africa, business, Chief executive officer, Financial Services, Growth, India, Initial public offering, Investment, Kenya, Kigali, Safaricom, Trends, UBA, Zain

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[Click on the post title to read full story]

The phenomenal growth observed in the last eight months since the bank opened operations in Uganda is due to their customer-centric innovations, simple steps in account opening and flexible loan product ranges that grow the customer and a humane management style.

For example ,customers might want to open an account with the little saving they have but some costs associated with doing such can deter them,such as cost of transportation,fee for obtaining ID,fee for photographs(usually four) etc..  At Equity Bank Uganda[estimated asset valuation of approximately US$64.1 million] account opening is free and all the customer has to do is present themselves with an identification.

Another example is understanding that  understand that some of the customers being serve are semi-literate so they ask them to come to our counters and they debt their cards or credit them for them.

Source

Equity Bank Uganda

Editor’s note :Customer service one of the pillar of business growth.

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Post tags: Africa, Bank, business, Business and Economy, Consulting, Customer service, Debt, Uganda

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