Richard Valdmanis

Political risks to investment are easing gradually across Africa, making it easier to tap into the continent’s robust growth, Africa’s top private equity investor Emerging Capital Partners (ECP) has said.

The Washington-based group said this week it raised US$613 million for a new fund that will mostly target telecoms, financial services, resources and utilities deals in sub-Saharan Africa, bringing its total capital raised for African investments to US$1,8 billion since it started ten years ago.

“The trend has been pretty good, with gradual but consistent improvement in democracy, transparency and stability. It is a very important trend for us,” said Hurley Doddy, co-founder and chief executive of ECP. “It is much tougher to get away with a coup now.”

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Nigeria spends $80b on wheat import from US

On August 31st, 2010, posted in: sep10news by

Bayo Akomolafe

Nigeria has spent a whopping $80 billion on wheat import from the United States of America (USA), making her the world’s single-largest importer from that country last year.

Alan Tracy, president of the US wheat trade group, US Wheat, dropped the hint at the Kansas City Marriott Downtown, where African and American government representatives and private business people gathered in a trade forum to discuss trade and investment opportunities.

“Wheat import is the second-largest business sector import, after the oil industry in Nigeria . We can take what is a very large business like flour milling and take it to the lower level (like establishing) small bakery outfits, which involve more people,” Tracy said.

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Hamid Ould Ahmed

ALGIERS (Reuters) – Swiss investors unveiled Algeria’s first Western-style shopping mall on Wednesday, a 70-million-euro project that marks the first major foray by foreigners into the energy exporters’ untapped retail market.

Algeria has 35 million people and one of the highest levels of income per capita in Africa but international retailers have been put off by curbs on foreign investment and a conflict between government forces and Islamist rebels.

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