Browsing: Nigeria

Pan-African financier that exclusively supports the development of the housing and real estate sector in Africa, Shelter Afrique, has urge governments to establish a housing microfinance fund to improve access to housing finance by those in the lower end of the market.

Speaking at the Affordable Housing Investment Summit in Nairobi recently, Shelter Afrique’s Chief Executive Officer Andrew Chimphondah said most policies had an exclusive urban focus, and non-consideration of the low-income groups and the rural areas.

According to Shelter Afrique, establishment of such a fund would make it easier to facilitate efficient and inclusive housing market systems and make affordable housing a reality across Africa.

Currently, 90 per cent of Africans cannot afford to buy a house or qualify for a mortgage.

READ ALSO:AfDB to inject more millions to support affordable housing in Africa

“Access to adequate housing for low-income earners is a critical development issue globally and …

A first-of-its-kind study has found that worldwide illegal streaming of the English Premier League (EPL) delivers £1M in uncaptured sponsorship media value per match.

The study –– produced by sponsorship valuation firm GumGum Sports in partnership with digital piracy authority MUSO at the behest of an unnamed elite EPL club –– focused on eight matches spanning the 2018-19 season. On average, each match saw an audience of 7.1 million fans across as many as 149 countries.

The pirated audience was largest in China, where illegal streams served more than 1 million fans per match. After China, illegal streaming was most prolific in Vietnam, Kenya, India, and Nigeria.

The U.S. and the U.K. had the 10th and 11th largest piracy audiences streaming the match. The global study also broke down its £1M-per-match finding by an on-pitch sponsor, noting that, of the seven deal placements analyzed, the majority of value came from …

Africa has had a dark past and specifically the four century long blot of human slavery climaxing in the 17th and 18th century. However, some of the descendants of the slaves have gone on to make great businessmen with great influence in the world.

Ghana has realized the potential such a group of people pose to the African economy and has launched several drives to make the African Diaspora return to the continent and invest in projects of their choice.

The Ghana Diaspora Celebration & Homecoming Summit 2019 (GDHS’19) is a four-day event recognizing and celebrating the immense contributions to nation building by the Ghanaian Diaspora.

The event will not only highlight past contributions but will focus on present contributions as well, whiles furthering the advocacy for political, economic, and all other systems and policies that would facilitate future contributions by the Ghanaian Diaspora.

Ghana’s president Nana Akufo-Addo in October …

Sub-Saharan hospitality investment platform Kasada Capital Management has reached a first close on its maiden fund Kasada Hospitality Fund LP with equity commitments of over USD 500 million.

This is in line with a first announcement disclosed in July 2018 by Katara Hospitality and Accor who are respectively contributing USD 350 million and USD 150 million. In a region which offers robust growth opportunities, the fund will target both greenfield and brownfield projects.

The hospitality market is currently one of the most promising and yet underserviced sectors in Sub-Saharan Africa where growing economies and emerging middle class are creating high-growth markets that are left largely untapped.

The first platform of its kind in Sub-Saharan Africa, Kasada Capital Management intends to bridge the gap between the local hospitality market players and international investors.

The team is co-led by Olivier Granet (CEO and Managing Partner) a former CEO of AccorHotels Middle East …

Private capital remains an important driver of investment activity in much of Africa

Office yields remained largely stable in most African markets over the past two years, anchored by patient domestic capital as local investors assume a longer-term perspective, a new analysis by Knight Frank shows.

The analysis, published in a new Knight Frank report dubbed Africa Horizons, shows that of the 35 office markets covered, yield remained stable in 16 locations in the two years to 2018 and rose in six, while 13 markets recorded declines.

Africa Horizons provides a unique guide to real estate investment opportunities on the continent, examining developments in agriculture, hospitality, healthcare, occupier services (office), capital markets, residential and logistics property sectors.

“By taking a longer-term perspective, and in some cases a lower return profile, local investors have remained more active than headline figures suggest. This explains how yields in most major markets have remained …

Sub-Saharan Africa’s economic growth slowed to 2.3 per cent in 2018 from 2.5 per cent in 2017, remaining below population growth for the fourth consecutive year, the World Bank has said.

In the April 2019 issue of Africa’s Pulse, its bi-annual analysis of the state of African economies published on Monday, the bank said regional growth was expected to recover to 2.8 per cent in 2019, staying below three per cent as it has been since 2015.

The slow growth reflects ongoing global uncertainty but increasingly comes from domestic macroeconomic instability including poorly managed debt, inflation, and deficits; political and regulatory uncertainty; and fragility that is having visible negative impacts on some African economies.

It also belies stronger performance in several smaller economies that continue to grow steadily, the bank said.

It noted that Nigeria’s growth rose to 1.9 per cent in 2018 from 0.8 per cent in 2017, reflecting …

Three years past the crisis period, economies are still performing poorly

The growth story in Sub-Saharan Africa in the past few years has been one of faltering recovery from the worst economic crisis of the past two decades.

This remains the case according to the World Bank’s April 2019, 19^th edition of Africa’s Pulse, which estimates GDP growth in 2018 at a lower-than-expected 2.3 per cent, with a forecast to 2.8 per cent in 2019.

“Three years past the crisis period, we should be seeing a more widespread pickup in growth; instead we have downgraded our estimates again for 2018,” said Gerard Kambou, World Bank Senior Economist for Africa, “Leaders in Sub-Saharan Africa have the opportunity to build stronger domestic policies to withstand global volatility – and now is the time to act.”

The report notes that the three largest African economies—Nigeria, Angola and South Africa—play a big role …