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Organisers Announce Shortlist for 2018 Private Equity Africa Awards

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By Dipo Olowookere

Private Equity Africa (PEA) has announced the shortlist for its 7th Annual GP & Advisor Awards (PEA Awards).

A statement issued by the organisers said this year’s Awards Gala Dinner would be hosted at the prestigious 5-Star Langham Hotel in London on Tuesday, June 12, 2018.

This follows the PEA LP-GP Investor Summit, a full day event and the summit includes hosted sector-focused round-tables, lunch discussions and an open room debate session.

The PEA Awards celebrate the achievements in the African private equity market, focusing solely on the best-in-class achievements of investors and advisors in the industry.

The final winners will be selected by an independent panel of highly respected industry participants, based on selections from the London Business School Private Equity Institute and the PEA Awards Nomination Team.

The 2018 PEA Awards have received a record number of entries, the highest since the awards were launched.

Based on 2017 achievements, the self-entries are complemented by editorial recommendations from the Private Equity Africa team and industry data.

According to the Awards Chair and Editor of Private Equity Africa, Gail Mwamba, “The PEA Awards are growing from strength to strength with a record number of entries this year, the most we have received since the launch of the awards.

“The high quality of the entries we have received shows the industry’s resilience in continuing to deploy capital and execute world-class deals, even in challenging market conditions.”

Below is the awards shortlist by category

GP AWARDS                 

HOUSE OF THE YEAR

SUBCATEGORIES: SSA, Regional & Specialist

    ACA

    Actis

    AfricInvest

    Amethis

    Capitalworks

    Carlyle

    DPI

    Ethos

    Helios

    Investec Asset Management

    LeapFrog

    Mediterrania Capital Partners

    Old Mutual Alternative Investments

    Verod

    XSML

DEAL OF THE YEAR

Large-Cap

    Abraaj – Tunisie Telecom

    Actis – Honoris

    Carlyle – Shell Gabon

    DPI – Atlantic Business International

    Harith – Sheltam

    Helios – GBFoods Africa

    Milost Global – Eco Medical

Mid-Cap

    8 Miles – Blue Skies

    AfricInvest – Britam

    Alta Semper – Macro Pharmaceuticals

    Amethis – Groupe Premium

    Apis – Greenlight Planet

    Atlas Mara – Union Bank Nigeria

    Capitalworks – Minet, Petmin, Sovereign Food

    Carlyle – GCR

    EMR – Capital Lubambe

    EuroMena – Retail Holding

    Investec Asset Management – Kamoso

    Medu Capital – HeroTel

    Sanlam – JAB Dried Fruit

    TA Associates – Interswitch

Small-Cap & Venture Capital

    4Di Capital – Sensor Networks

    AFIG – Tecnicil

    African Rainbow Capital – A2X Markets

    AfricInvest – ICS

    Agile Capital – Goldrush

    Algebra Ventures – ElMenus

    Alta Semper – Health Plus

    Argentil – Chocolate City Express

    Ascent Capital – Kisumu

    Catalyst – Jambo Biscuits

    DiGAME – 10X Investments

    Draper Associates – BitPesa

    Energy Access Ventures – SunCulture

    Enko – AMI International, Ecobank

    I&P – Societe Malienne de Blanchisserie

    Kalon Venture Partners – i-Pay, SnapnSave

    Kibo Capital – Tropigalia

    Kleoss Capital – Debt Rescue

    Knife Capital – Quicket

    LeapFrog – AllLife

    Lereko & Metier – Butama

    Moringa –  Tolaro

    Musa Capital – Swanib Cables

    Oasis Capital – Legacy Girls College

    Old Mutual Alternative Investments – Faircape Life Right

    Pointbreak – Khomas Solar Saver

    Quona Capital – AllLife

    Sahel Capital – Crest Agro

    Synergy Capital – Dimension Data, Northstar

    Teranga Capital – OuiCarry

    Verod – Oreon Education

    XSML – Monishop

Debt

    AfricInvest – Carbon Holdings

    Injaro – AviNiger

    Investec Asset Management – Akuo Kita Solar

    Moringa – Tolaro

    Old Mutual Alternative Investments – Sifiso Education

    TLG – BAJ Stations

    Vakayi – Homelux

    Vantage – Purple Capital

    XSML – Monishop

Infrastructure

    AHL – PowerGen

    AIIM – Albatros, Starsight

    Black Rhino – Qua Iboe Power Plant

    Denham – Te Power

    DOB Equity – PowerGen

    Helios – Starsight

EXIT OF THE YEAR

SUBCATEGORIES: Large, Medium, Small-Cap, Landmark

    Actis – Edita

    AfricInvest – Comete Engineering, Tunisian Health Care Centers

    Capitalworks – Much Asphalt

    CDG Capital – Intelcia

    Convergence Partners – Dimension Data Middle East & Africa

    DiGAME – Getsmarter

    DOB Equity – Joseph Initiative

    DPI – CAL Bank

    ECP – Java House

    EXEO Capital – Fairfield Dairy

    Injaro – Nafaso

    Investec Asset Management – Daraju

    Lereko & Metier– AE AMD Renewable Energy

    Mediterrania Capital Partners – San Jose & Lopez

    Standard Chartered Private Equity –  CEC Zambia, ETG, Kamoso

PORTFOLIO COMPANY OF THE YEAR

SUBCATEGORIES: Innovation, Improvement, Development & Social Impact

    8 Miles – Awash Wine

    Actis – Honoris

    AfricInvest – Esprit

    Argentil – Winchester Farms

    Carlyle – J&J Africa

    DPI – KMR Holding Pdagogique

    Duet – Dashen Brewery

    ECP – Oragroup

    Fanisi – Haltons

    Helios – Interswitch, HTA

    Injaro – Agricare Ghana, Gold Coast Fruits

    LeapFrog – Goodlife

    Mediterrania Capital Partners – Medtech

    Quona – Zoona

    TLG – MyBucks, Cipla Quality Chemicals

    Verod – Central Securities Clearing Systems

    Zebu – Topcrust Bakery

ADVISOR AWARDS

Legal Advisors

Global Legal Advisors

SUBCATEGORIES: Overall, Funds, Transactions & Single Deal

    Akin Gump

    Allen & Overy

    Baker McKenzie

    Charles Russell Speechlys

    Cleary Gottlieb Steen & Hamilton

    Clifford Chance

    Cuatrecasas

    Debevoise & Plimpton

    Dentons

    DLA Piper

    Eversheds Sutherland

    Foster Pepper

    Freshfields Bruckhaus Deringer

    Herbert Smith Freehills

    Hogan Lovells

    Latham & Watkins

    Linklaters

    Norton Rose Fulbright

    O’Melveny

    Orrick, Herrington & Sutcliffe

    Simmons & Simmons

    White & Case

Local & Frontier Legal Advisors

SUBCATEGORIES:Overall, Funds, Transactions & Single Deal

    Aluko & Oyebode

    Anjarwalla & Khanna

    Banwo & Ighodalo

    Bentsi-Enchill, Letsa & Ankomah

    Bowmans

    Cliffe Dekker Hofmeyr

    ENSafrica

    Olajide Oyewole

    Musa Dudhia & Co

    The New Practice

    Udo Udoma & Belo-Osagie

    Webber Wentzel

    Werksmans Attorneys

Financial Advisors

Global Financial Advisors

SUBCATEGORIES: Overall & Single Deal

    Crossboundary

    Deloitte

    EY

    KPMG

    Marsh

    PwC

    Rothschild & Co

    Taylor Collison

Local & Frontier Financial Advisors

SUBCATEGORIES: Overall & Single Deal

    CI Capital Investment

    EFG Hermes

    Merchantec Capital

    Meziou Knani & Khlif

    Pangaea Securities

    Perigeum

    Viva Africa

Other Advisors

    ABSA Capital

    EBS Advisory

    ERM

    Stanbic IBTC

Fund Administrators

    Abax Services

    Augentius

    Axis

    Intercontinental Trust

    Maitland

    SANNE

    SGG

    Trident Trust

Dipo Olowookere is a journalist based in Nigeria that has passion for reporting business news stories. At his leisure time, he watches football and supports 3SC of Ibadan. Mr Olowookere can be reached via [email protected]

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Lagos to Get New Building Code in 2025

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3-storey building collapses mushin2

By Adedapo Adesanya

The Lagos State Government has expressed its readiness to get a brand-new Building Code next year, to achieve the high-performance standards needed to make Lagos a sustainable and Smart City.

The government’s readiness was disclosed at the Lagos State Executive Council Retreat on the Domestication of the Lagos Building Code, organised by the Office of the Special Adviser on e-GIS and Urban Development, held at Ikeja GRA on Wednesday.

Speaking during the retreat, Lagos State Governor, Mr Babajide Sanwo-Olu emphasised the need for more collaboration among all the ministries and agencies in the built sector, to ensure the state development in line with global best practices.

He said the motive behind the Lagos Building Code is to have a building regulation that would make Lagos much more resilient.

“We (Lagos State Government) are the first to domesticate the National Building Code, which is the creation of the Federal Government. We are not doing anything outside the vision at the sovereign and sub-sovereign levels. But what is unique about our own is the fact that all the cabinet members see the need to have an input because it would be an outcome that would affect lives and different ministries and agencies.

“So, there is a need for everybody to have a say, and at the end of the day, collectively we will resolve to have a way.

“What we are trying to do is for Lagos State to do what is obtainable internationally: have a building regulation in which we have a standard of construction in design, manner of land use occupancy, and use of building materials, which we believe would eventually improve and help with health, safety, and occupancy issues.

“It is all about building sustainably, making Lagos a lot more resilient and able to absorb shock in the future and able to stand in the comity of developed cities and city-states as we see in various parts of the world,” he said.

The Special Adviser to the Governor on eGIS and Urban Development, Mr Olajide Babatunde, stated that the Lagos Building Code is to complement the existing regulatory framework and provide a comprehensive solution to the challenges of land use, physical development, and urban planning.

Mr Babatunde said the Lagos Building Code will regulate building control, planning permission, and address the issues of setbacks; take care of the safety and sustainability of the environment; and also prevent the collapse of buildings.

“We have been working on the domestication of the National Building Code, and by next year, we are going to have our own brand-new Lagos Building Code. We have worked with professional bodies and people from academia, market women, and the public in general, and through a participatory approach, we can come out with a document that is acceptable to everyone and useful to the entire state,” he said.

Also speaking, the Special Adviser to the Governor on Infrastructure, Mr Olufemi Daramola, described the Lagos State Building Code initiative by the Babajide Sanwo-Olu administration as the next step to Green Lagos that will enable the state to plan buildings properly and ensure durable infrastructure in the state.

During the retreat, members of the Lagos State Executive Council brainstormed and advocated aggressive sensitisation for residents of the State on the Lagos Building Code before implementation.

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Apostle Femi Lazarus Emerges Most Streamed Podcast in Nigeria on Spotify

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Apostle Femi Lazarus

By Modupe Gbadeyanka

A report released by Spotify has revealed that in 2024, Apostle Femi Lazarus was the most streamed podcast on its platform, closely followed by Motivation Daily by Motiversity.

Podcasts are one of Africa’s favourite ways to tell stories. With almost 4 billion minutes of podcast audio played in Sub-Saharan Africa in 2024, the continent’s appetite for this content is loud and clear.

South Africa, Nigeria, and Kenya listened to the most shows this year, with South Africa contributing over 2 billion minutes. If you started playing podcasts on one device today, it would make for about 30 centuries of listening.

“The numbers don’t lie. Podcasting is here to stay because it lets creators take control of their narratives and tell these stories on their terms while bringing their community along for the journey,” the Sub-Saharan Africa Podcast Manager for Spotify, Ncebakazi Manzi, stated.

Motivational shows around issues like managing finances, relationships, personal goals and health remain popular across the three leading countries. Shows like “The Diary Of A CEO with Steven Bartlett”, “Motivation Daily by Motiversity” and “The Success Addicted Podcast” have attracted listeners who want to get their lives in order and learn from the stories of inspirational people.

Audiences in Nigeria and South Africa embrace shows about spirituality. “Christian Motivation” had one of the most shared episodes in South Africa while “Apostle Joshua Selman” maintained his popularity in Nigeria for another year. As the continent’s second-largest podcast market, Nigeria listened to 700 million minutes in 2024 and it created half of the new shows published in Sub-Saharan Africa this year.

Even though spirituality dominated Nigeria’s top charts, the continued popularity of shows like “I Said What I Said” and “The HonestBunch Podcast” tell us that listeners also want conversation-style shows. Listeners in Kenya and South Africa also showed an affinity toward these shows.

A good laugh with friends

The “ShxtsnGigs” podcast, an opinion show hosted by two best friends James and Fuhad, tapped into audiences’ hunger for conversational shows. The humorous podcast has made its way to the top charts in six of the top 10 podcast-playing African countries. In Kenya, The 97s Podcast has been inspired by this approach where funny and frank chats between hosts Trevor, Frank and Dante have led the podcast to take the number-one spot in the country for the first time.

Kenya’s broader listening data shows that relationships are a meaningful taking point. Seven of the 10 most shared episodes in the country discuss love, sex lives and dating. Julia Gaitho’s “So This Is Love” holds three out of the top five most shared podcast episodes in the country. Her interviews resonated because she draws lessons from her guest’s stories about lost lovers.

Some listeners just wanted to laugh through the pain. Ensemble shows like “Mic Cheque Podcast” and “The Sandwich Podcast” made Kenyans feel like they were hanging out with a close circle of friends. When difficult topics come up, moments of infectious laughter help lighten the mood.

Women creators like Murugi Munyi, Julia Gaitho, Sharon Machira and Lydia K.M. take this comedic approach to a new level on shows like “The Messy Inbetween” and ‘It’s Related, I Promise’. This genre contributed heavily to the country’s 400 million podcast minutes streamed in 2024.

Below are the most streamed and shared podcasts for the year;

 

TOP SHARED PODCAST EPISODES IN SOUTH AFRICA

TOP SHARED PODCAST EPISODES IN KENYA

TOP SHARED PODCAST EPISODES IN NIGERIA

  1. Serial Killers – Killer Nurse Kristen Gilbert

  2. True Crime News: The Podcast – Pam Hupp charged with murder of Betsy Faria

  3. The Diary of a CEO – The Happiness Expert That Made 51 Million People Happier

  4. The Joe Rogan Experience – #2152 – Terrence Howard

  5. The Joe Rogan Experience – #2219 – Donald Trump

  1. The Sandwich Podcast – MAISHA YA STUNNA Ft (LIL MAINA)

  2. So This Is Love – Melody and Kev ep1

  3. So This Is Love – Mathew & Scarlet – S4 | E1

  4. So This Is Love – Njoki & Njue – S4 | E2

  5. Heart II Heart With Mike and Shiko – EP 1 | Genesis – How it all began

  1. David’s Christian Centre – Worship with Minister Dunsin Oyekan (A) | Mainland

  2. Apostle Femi Lazarus – Trauma

  3. Apostle Femi Lazarus – How To Deal With Pain That Is Not Going Away

  4. Success Addicted Podcast with the voice of Earl Nightingale ; Napoleon Hill ; Jim Rohn and many more – How To Start Working On Your Goals and Visions, Even If You Don’t Like This (Proven Strategies and Hacks) | Jim Rohn

  5. Apostle Femi Lazarus – Trauma & Marriage

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Watt Renewable Secures $15m Loan for Hybrid Solar Power Plants in Nigeria

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Oluwole Eweje WATT Renewable Corporation

By Dipo Olowookere

A $15 million debt facility has been obtained by Watt Renewable Corporation from the AfriGreen Debt Impact Fund to finance hybrid solar power plants to be built and operated by the former, especially in Nigeria.

WATT intends to use the projects to serve commercial and industrial clients in Nigeria, particularly in the telecommunication and financial services sectors.

By integrating solar hybrid solutions, the firm aims to significantly reduce diesel consumption and CO2 emissions, enabling its clients to achieve substantial energy cost savings while promoting environmental sustainability.

As a pioneer in renewable energy solutions, WATT continues to drive innovation in Nigeria’s energy sector.

The company’s robust roll-out plan includes deploying hundreds of hybrid solar power sites nationwide to meet the growing energy demands of commercial & industrial clients.

This strategic expansion aligns with WATT’s vision to revolutionize energy access across Africa, enabling sustainable development and reducing reliance on fossil fuels.

The funds from AfriGreen provide the critical capital needed to accelerate WATT’s ambitious projects, strengthening its market position and empowering businesses with reliable and affordable energy solutions.

Business Post gathered that to mitigate the currency risk for WATT in the event of devaluation of the Nigerian Naira, AfriGreen is offering a local currency facility that matches the payment structure of the power purchase agreements.

“We are thrilled to partner with AFRIGREEN on this transformative journey to expand reliable and sustainable energy solutions across Africa.

“With this support, it enables us to accelerate our shared mission of providing hybrid solar power to businesses, reducing carbon emissions, and supporting economic growth while enhancing energy security for our clients,” the Managing Director of WATT, Mr Oluwole Eweje, said.

“We are delighted to support WATT in rolling out hundreds of hybrid sites across the country.

“This represents another key transaction for AFRIGREEN in Nigeria. The combination of high energy prices, good solar irradiation, and strong demand from industrial and commercial energy users makes this market particularly attractive for companies like WATT.

“By leveraging these favourable market conditions alongside WATT’s exceptional operational performance and a well-structured financing solution, we are setting the stage for a strong and lasting business partnership,” the Managing Director of AfriGreen, Mr Alexandre Gilles, stated.

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