Tag Archives: 8 Miles
8 Miles: Latest News
Staff, 12:01 am
The fall in African private equity investment in 2016 could be a short-term blip. Among the losers was US-based Carlyle, one of the world’s winningest investment firms. Carlyle invested $147m in Nigeria’s Diamond Bank in 2014. The bank’s market cap fell by 90% over the subsequent two years. Bob Geldof’s PE firm 8 Miles just invested in Blue Skies, a British fruit firm that operates in Africa. Utilities including telecoms were the most popular target for private equity investment in 2016. West Africa was the most active region.
Kevin Mwanza, 8:03 am
Rock star Sir Bob Geldof has led a group of private equity investors in investing $80 million in a Nigerian biscuit maker Beloxxi Industries, a deal described as a bet on the company’s ability to meet the rising demand of a budding middle class in one of Africa’s largest economies. Nigeria has one of the continents fastest growing consumer class despite the economic challenges the West African nation has faced in recent years due to falling oil prices, its main export commodity that account for more than 70 percent of government revenue.
Dana Sanchez, 4:35 pm
Bob Geldof may be best known for his 1985 Live Aid concerts 31 years ago which raised about $145 million for victims of a devastating Ethiopian famine. Back then, the country was a magnet for Western charity, WSJ reported. Today, he and other wealthy fund owners are delivering something else: investment. In Ethiopia alone, 8 Miles is looking at five projects, Geldof said in Addis Ababa, where he was attending an event organised by his winery.
- Real Estate