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: Electrify Africa Act - now a thing.

The U.S. House of Representatives on Monday passed the Electrify Africa Act, after nearly two years of trying to get the measure through both chambers of Congress. It now goes to President Barack Obama for his signature.

The bill will provide a framework for a major public-private partnership between the United States and sub-Saharan African countries to help millions of people gain access to reliable electricity. The Act sets out to bring first-time electricity to 50 million people in Africa, by 2020.

The bill establishes a comprehensive U.S. policy towards the development of a mix of power solutions, including renewable energy, for the expansion of reliable access to electricity in the region. This access will support poverty reduction and promote development outcomes in the areas of health, education and economic growth.

Fact: Nollywood, Nigeria's movie industry, is the second-largest movie industry in the world behind Bollywood, and puts out twice as many movies as Hollywood.

Amadeus Capital invests US$40m in South African based Travelstart

  • South African OTA Travelstart has secured US$40 million funding from global technology investor Amadeus Capital Partners
  • The investment coincides with the clinching of a strategic partnership with Africa's largest mobile telecommunications provider MTN
  • Travelstart says it addresses the complexities in the African travel market by accessing local supply, solving language and currency problems and diverse payment methods
  • Chief executive Stephan Ekbergh said: Africa alone is a US$50 billion travel market growing between 3% and 5% annually

Delta invests US$26 million in two super plants

  • Zimbabwe's leading beverage manufacturer, Delta Beverages, has set aside US$26 million dollars for the setting up of two additional Chibuku Super plants at its Kwekwe and Masvingo Breweries