𝐍𝐞𝐠𝐚𝐫𝐢𝐭 𝐁𝐮𝐬𝐢𝐧𝐞𝐬𝐬 𝐑𝐞𝐯𝐢𝐞𝐰’s Post

THE HISTORY BEHIND WGF PROJECT AFRICA ETHIOPIA The investment rules in Ethiopia are very complicated especially when it comes to foreigners. To become a part of an Ethiopian business, you must invest $ 200,000 and in many cases, foreign ownership is not even allowed. When WGF Project Africa Ethiopia was set up, the official rate was around 56 ETB to a USD (it is now over 100 due to devaluation). At the time, if you brought USD into Ethiopia, you were allowed to keep 50% while the other had to be converted into Ethiopian Birr. This was because Ethiopia desperately needed foreign currency. With a black market rate of around 120 ETB to a USD, this meant that an investor would lose 25% if the remaining 50% in ETB was converted back to USD. We decided to form a One Member PLC under the name of Haimanot Sisay Tebeje and then create a resolution (as equal partners in the World Gem Foundation) making the Ethiopian company a wholly owned subsidiary of the World Gem Foundation. This meant that the partnership guidelines of the parent company applied to the subsidiary. It was designed to protect my investment. The following resolution was passed on June 23rd, 2023, 73 days after I made Ms. Sisay a partner in the WGF. Why was I so generous? Well in terms of succession, a school must never cease to exist, it is not like other businesses where the business closes if the owner retires or dies. I saw her as the ideal person to continue my legacy. As it turns out, I was wrong, but that was the logic. Since I owned my intellectual property through a separate numbered Canadian Corporation, I was not foolish enough to give it all away! Now Ms. Sisay denies the existence of this document. Why? because it suits her to refer to me as her employee! To claim I stole money from HER company. That I stole equipment from HER company. First of all, I am nobody's EMPLOYEE! Secondly, what employee buys all the equipment, takes out loans, pays most of the expenses and does not receive a salary? Again a distortion of the facts to justify the unlawful seizure of the equipment.

Africa is ripe for a shock of capitalism. The future of Africa is privatization Public Private Partnerships have proved unworkable. No protection for local entrepreneurs because this will mean selling to family and friends and the well-connected. The local capital has to compete to buy the state-owned enterprises on equal terms with the foreign investors. Europe needs to engage Africa as its expanding model to the former communist countries is now exhausted. Eastern Europe is now old. No manpower to build factories there. Look to Morocco. As South Africa's energy collapsed, Morocco attracted European car makers and is now Africa's biggest car producer. There is no need for magic. Just look at the high costs of producing anything in Europe. Electricity must be the first sector to go on the auction block. Generation. Transmission and Distribution. Producing electricity here in Africa and installing cables to feed Europe's industry, is just a reflection of the negative investment outlook of Africa dominated by the state-woned infrastructure sectors. The FDI angle: -- Six of Africa's biggest 10 economies are exploring routes to privatise their struggling SOEs. -- Privatisation offers local and international investors opportunities to expand their reach via entities that have a big footprint in their home country. -- The IMF has found that some 40% of sub-Saharan Africa's SOEs are unprofitable. https://lnkd.in/dZQwmRU5

💵 Africa needs an additional USD194 billion annually to achieve the SDGs by 2030 (which is 7% of the continents entire GDP). DFIs are key to bridging this gap by mobilising private sector investments. DFIs have historically fuelled Africa's growth by investing trillions across sectors, operating in high-risk areas where private capital curtails. They drive policy reforms through various tools, from early-stage capital to traditional financing.     Despite this, an important question remains: Can DFIs enhance their capital usage? DLA Piper and Invest Africa Ltd gathered stakeholders to discuss the challenges and opportunities for DFI’s to boost investments, impact, and growth in Africa.     📑 Read the report to learn the outcomes of the discussion: https://lnkd.in/d4RFCVKZ    For more Invest Africa Insights: https://lnkd.in/dHbbQzCR    #Africa #DevelopmentFinance #DFIs #Impact #Trade #Investment   

The Critical Role of Development Finance Institutions (DFIs) in Africa's Economic Growth Development Finance Institutions (DFIs) are transforming Africa by funding key infrastructure, energy, and trade projects. From powering rural communities with clean energy to boosting intra-African trade, DFIs are driving sustainable growth across the continent. Discover how DFIs like AfDB and IFC are bridging the financing gap and fostering innovation in sectors like agriculture, private equity, and beyond. 👉 Read more about the impact of DFIs on Africa’s economy: [ https://lnkd.in/dAWt6hAP ] #Africa #DevelopmentFinance #EconomicGrowth #SustainableDevelopment #Trade #PrivateEquity

Kenyan businesses continue to expand regionally with Safaricom banking on the Ethiopian market. Safaricom has invested over KES 120 billion (US $950m) in Ethiopia hence controlling 14.4% of Kenya's foreign assets. Kenya's foreign assets are estimated to be KES 514 billion as at 2022. East Africa is considered to be the fastest growing economic region in the continent with Africa poised as the fastest growing continent globally. Other Kenyan companies that scaled to regional markets include KCB Bank Group,Equity Group,NCBA,I&M Group,DTB,Nation Media Group among many others. This justifies as to why Kenya has become East Africa's economic hub. When (NOT if) Kenya rein in on corruption,over taxation,insecurity,improve on disaster management,merge licenses and permits for convenience,improve infrastructure and reduce the cost of energy...we will be Africa's preferred investment destination. Daima Mkenya. #markets #investments

#Outlook for the next 3years to reposition Nigeria We have witnessed major divestment of Multinational from Nigeria depleting our GDP with over $4.5bn dollar, recent one is Microsoft and Total Energy We need to attract other global company like Tesla etc to attract DFI It is noteworthy to highlight effort of Nasawa state to create Valued added organization for Mineral resources such as lithium, maganese, Copper etc The present administration has spent over $2bn to market and established diplomatic relation,we only heard of many promisorry notes As of today our capital formation of over 60% is on loan Our public debt is soaring up at Dec 2023 @N97.34trn with these additions Afriexim $3.3bn, World bank $2.2bn Loan accumulation is not a bad idea but in our own perculiar case our public expenditure is at variance with our critical need How do we explain sponsoring Hajj pilgrimage with over N90bn,N10bn to build recreation for NASS members,N1bn for Student hostels in selected institution Import dependency and continuous loan acquisition is not a sustainable idea It is.high time we concentrate on equity investment as we have over $3trn assets grossly under utiliize across Federal -States-local government How to reposition Nigeria in next 3years? To reposition Nigeria in the next 3 years, the present administration should focus on the following key areas: 1. *Economic Diversification*: Implement policies to diversify the economy, promote industrialization, and encourage entrepreneurship, especially in the non-oil sector. 2. *Infrastructure Development*: Invest in critical infrastructure such as power, transportation, and broadband networks to enhance economic growth and competitiveness. 3. *Education and Healthcare Reform*: Implement policies to improve access to quality education and healthcare, especially for marginalized communities. 4. *Security and Law Enforcement*: Strengthen security agencies and implement community policing to address insecurity and promote law and order. 5. *Anti-Corruption Efforts*: Sustain and intensify efforts to combat corruption, promote transparency, and ensure accountability in government. 6. *Power Sector Reform*: Implement policies to improve power generation, transmission, and distribution to ensure stable and reliable power supply. 7. *Agricultural Development*: Implement policies to improve agricultural productivity, promote self-sufficiency, and reduce dependence on imported food. 8. *Youth Empowerment*: Implement policies to promote youth entrepreneurship, skills development, and employment opportunities. 9. *Foreign Policy and Diplomacy*: Strengthen diplomatic relations with other countries, promote economic diplomacy, and position Nigeria as a leader in regional and global affairs. 10. *Institutional Reforms*: Strengthen and reform key institutions, such as the judiciary, electoral commission, and anti-corruption agencies, to ensure independence, effectiveness, and accountability.

I spent a few days in Kenya earlier this week with our Delphos team. We are advising clients in energy, agribusiness, infrastructure, and financials in East Africa. Here are four things I am following: -Allocations within private capital. Across EMs, according to the Global Private Capital Association, private equity has been in decline for the last three years while allocations to infrastructure, credit, and venture have been on the rise. This is true in East and Central Africa as well. -Rising public debt levels and the impact on appetite for private credit - pricing and volume. As in much of the West, public debt has soared in Kenya and neighboring markets. This has been driven by infrastructure build (including climate-tied infrastructure), rising rates, and COVID response spending. In Uganda public debt has grown from 41% of GDP in 2019 to 57% in 2023 while in Kenya over the same period debt has grown from 57% to near 73%. Watch the Kenya sovereign bond refinancing in the first half of 2025. -Opportunities in the broader region. For example, we are seeing increased appetite in adjacent markets including Uganda, due to lower debt levels, and growth potential, and DRC due to the dollarized nature of the economy and sheer size of the market. I spoke with a sector agnostic client covering seven African markets who said their largest pipeline is far and away the DRC. -Differing political futures within the region and the implication on investment opportunities. Questions include the fragility of Ethiopia, Uganda post-Museveni, not to mention the recent tumult in Kenya’s executive branch. At Delphos we are well positioned to advise and structure private capital solutions for transactions and corporates across Sub-Saharan Africa. Please contact us if you have a transaction to discuss. #Kenya #EastAfrica #DRC #Ethiopia #Uganda #privatecredit #privatecapital

The Critical Role of Development Finance Institutions (DFIs) in Africa's Economic Growth Development Finance Institutions (DFIs) are transforming Africa by funding key infrastructure, energy, and trade projects. From powering rural communities with clean energy to boosting intra-African trade, DFIs are driving sustainable growth across the continent. Discover how DFIs like AfDB and IFC are bridging the financing gap and fostering innovation in sectors like agriculture, private equity, and beyond. 👉 Read more about the impact of DFIs on Africa’s economy: [ https://lnkd.in/dAWt6hAP ] #Africa #DevelopmentFinance #EconomicGrowth #SustainableDevelopment #Trade #PrivateEquity

Private sector participation is essential for economic growth and attracting foreign direct investment to Egypt. To achieve ambitious private sector participation goals, continuous work on reforms, incentives, and an enabling environment is necessary. All stakeholders should work together to create a sustainable and prosperous future for Egypt. #PrivateSector #EconomicGrowth #FDI #Reforms #Incentives #EnablingEnvironment

BRD and KfW sign €15.6M to support Rwanda SMEs and Export Growth by Taarifa Rwanda In a bid to bolster employment opportunities and empower small and medium-sized enterprises (SMEs)