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Old Today, 12:33 PM   #13281
Umoja
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Quote:
Africa's Richest Man Ups Ante for PPC With Cash, Share Offer

Dangote Cement Plc, the Nigerian company controlled by Africa’s richest person, has written to PPC Ltd. offering South Africa’s biggest cement maker cash and shares as part of a takeover deal that is fueling a bidding war. PPC’s shares rose.

We are waiting for them to get back to us, hopefully early next week,” Aliko Dangote said in an interview with Bloomberg TV in New York. “They can be part and parcel of the Dangote Cement story, where we’re going to be in 18 African countries.

The approach by Lagos-based Dangote follows a joint offer from Canada’s Fairfax Financial Holdings Ltd. and PPC’s domestic rival AfriSam Group Pty Ltd. While PPC has said it will consider all bids, the Public Investment Corp., its largest shareholder, supports a tie up with AfriSam and Fairfax, people familiar with the matter said last week. LafargeHolcim Ltd., the world’s biggest cement maker, is also monitoring PPC’s situation, the people said.

...
https://www.bloomberg.com/news/artic...sh-share-offer
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Old Today, 12:41 PM   #13282
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Quote:
City guide to Accra: a place expats call ‘easy Africa’

Ghana’s capital is increasingly catering for its growing middle-class


A good indication of Ghana’s stage of economic development can be gained from ubiquitous advertisements on the streets of Accra promising “good dental health, diabetes solutions, sexual health” and “a flat tummy in nine days”.

Positioned on street lamps to draw the attention of commuters stuck in the capital’s often gridlocked traffic, they reflect a society gradually discovering some of the drawbacks, as well as benefits, of increased wealth.

Echoes of traditional customs are found at road junctions where female traders in bright dresses effortlessly carry tall stacks of merchandise — from cleaning materials to bananas — on their heads. Men weave wicker baskets for sale from roadside stalls shaded by palm trees with trunks painted in the red, yellow and green of Ghana’s flag.

There are pockets of poverty. Many people live in jungles of ramshackle shacks where open drains are choked with litter and hens are pecking in the dirt. But, for the most part, Accra feels like a city brimming with enterprise and aspiration, where the smartly dressed foot soldiers of Ghana’s burgeoning middle class go about their business with a brisk sense of purpose.

...
https://www.ft.com/content/17736e4e-...b-f4624cccbabe
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Old Today, 02:15 PM   #13283
Azmat
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Egypt’s big chance on the global stage - LINK
Based on recent indications, Egypt is likely to join Brics Group, which includes the vibrant emerging economies of China, Russia, India, Brazil and South Africa.

[...]

Jinping also called for expanding the group by adding new members, which is an indication signifying that Egypt may join the group, which if it happens, will constitute a paradigm shift for Egypt’s economy and revive its exports by being able to reach mega markets that include more than 40 per cent of the world’s population. This will result in providing resources to develop many sectors of the economy, including agriculture and industry.

[...]

It will also contribute to activating the tourism sector, which is of such significance to an economy that still suffers from the implications of recent events. In addition, the Egyptian accession to Brics will add a lot to the group given its Arab and African leverage, especially as it is striving to re-map global relations to cope with the changes going on and the emergence of India and China as economic powers at the expense of the US and Europe.

[...]
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Old Today, 02:32 PM   #13284
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Uber is getting set to launch a national bus service in Egypt - LINK
Uber is set to launch a bus service in Egypt, the most populous Arab country with over 90 million inhabitants and notoriously heavy traffic.

The national bus service will look beyond Cairo to include other major governorates. Uber currently operates in the capital, which the second most populous African city at over 21 million people, as well as Alexandria and Mansoura. Cairo is one of Uber’s fastest growing markets with more than 30,000 drivers in 2016.

Other ride sharing apps such as Careem have also expanded significantly, to the consternation of local taxi drivers, investing in the new startup SWVL that offers modern air-conditioned buses along fixed routes. Uber is hoping to take on Careem by capitalizing on Egypt’s substandard public transport options.

[...]

The investment minister said Uber’s commitment would likely come with significant investment in Egypt within three months.
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