Atta Africa Financial Update

Key commercial and political activity in Africa for private equity investors by DCE Partners, UK Private Equity advisors to Atta.

Executive summary: Africa jumping into the space race.

Most do not associate the continent of Africa with the ultra high-tech domain of space. However, in recent years many countries throughout Africa have woken up to the potential and usefulness of space technology. In sub-Saharan Africa, Nigeria and South Africa are leading the charge.

Both countries have funded and overseen a number of launches, having recognised the usefulness of satellites for earth observation and telecommunication. Nigeria's space agency, the National Space Research and Development Agency, flies several multimillion-dollar satellites.

Satellites have also proved useful in the fight against extremist groups such as Boko Haram. In 2014, Nigeria used its SatX and Sat 2 to monitor the group's movements and to help find the 273 girls it had abducted.

Other growing sub-Saharan African countries have in recent years begun space programmes. Ghana launched its Space Science and Technology Centre in 2012. Kenya started its space programme in 2012. Kenya's geographic position on the equator makes it ideal to launch satellites into geostationary and other orbits.

Zoetic Global and ECG in a 100MW power deal

  • Zoetic Global, a US-based project developer, has executed a 20-year power purchase agreement with the Electricity Company of Ghana (ECG) for 100 Megawatts of additive power generation at the nation's Akosombo Dam on Lake Volta
  • The project will involve an array of modular hydrokinetic turbines to be deployed in the post-dam wash of the Akosombo Dam
  • The In-Stream Auger Turbine (IAT) technology being used is designed for high efficiency power generation from flowing water and will leverage existing infrastructure at the dam site including grid connections, access roads, and on-site maintenance buildings

Getbucks Lists On ZSE

  • Getbucks Zimbabwe listed on the Zimbabwe Stock Exchange last week
  • GetBucks listed after an Initial Public Offer that raised US$3.2 million and became the second listing in the automated trading environment
  • The financial technology company listed on the ZSE despite the tough macro-economic conditions prevailing in the country which saw GetBucks IPO being under-subscribed