₦airaland Forum

Kingdom Zephyr Africa Management, a private equity firm whose backers include Saudi Prince Alwaleed Bin Talal, is expanding in Nigeria, as buyout firms’ interest in Africa  increases.

Seyi Owodunni, a partner at the firm and a former chief financial officer of Nigerian telecommunications operator Starcomms Plc, will head the new Lagos office, New York-based Kingdom Zephyr said today in an e-mailed statement. Kingdom Zephyr, which raised a $492 million private equity fund in 2008 for Africa, has offices in Accra, Ghana, Johannesburg and London.

Private equity firms are creating teams or raising funds to target investment in Africa and tap faster growth than in western economies. Carlyle Group opened offices in South Africa and Nigeria in March, saying the continent is one of the fastest-growing regions in the world. The Washington-based buyout firm, which raised $500 million for its first Middle East and North Africa fund in 2009, is seeking to raise about $500 million for its first fund targeting Sub-Saharan Africa, two people with knowledge of the plans said on March 3.

“Nigeria’s economic growth has recovered from the temporary dip in 2009 on the back of higher oil prices as well as industry and government reforms,” Owodunni said in the statement. “Growth will be further aided by key demographic trends such as an expanding workforce, increasing urbanization and the rapid growth of Nigeria’s middle class.”

Economic growth in Sub-Saharan Africa will accelerate to 5.9 percent next year from 5.5 percent in 2011, according to April forecasts from the International Monetary Fund. That compares with projected global growth of 4.5 percent next year.

Funds of about $2 billion were raised for Sub-Sahara, Northern Africa and the Middle East last year, according data compiled by the Emerging Markets Private Equity Association. China attracted $7.5 billion, according to Washington-based EMPEA.

Vital Capital Investments LP, which invests in housing and agriculture in Africa, raised more than $250 million for its first fund and plans to get another $250 million, it said yesterday.

To contact the reporter on this story: Anne-Sylvaine Chassany in London at achassany@bloomberg.net

To contact the editor responsible for this story: Edward Evans at eevans3@bloomberg.net

Global private equity firm, Carlyle Group, plans to open offices in Johannesburg and Lagos and start investing in capital growth ventures and buyouts in the fast-growing region.

Washington D.C.-based Carlyle, which has $16.6 billion of assets under management in emerging markets, said it would begin with investments in the consumer goods, financial services, agriculture, infrastructure, and energy sectors.

“The entrance of a global player like Carlyle into sub-Saharan Africa is a testament to the region’s progress and prospects and will attract more capital and talent to the region,” Danie Jordaan, Carlyle’s sub-Saharan Africa co-head, said in a statement.

Carlyle, which has $97.7 billion in assets globally, said it was attracted by Africa’s favourable demographics, its expanding domestic industries, and improving politics.

The International Monetary Fund sees economic growth of 5.5 per cent for the region this year, one of the world’s fastest rates.

efisher:
I have a dream that one day, Nigerians in USA will dominate the nation in every aspect.

Nurture alone can get someone to that 99.9 percentile this chick is in?  Undecided It cannot be up to 80%. Otherwise those with similar backgrounds (financial status of parents, etc) would achieve results not too dissimilar. Though educational status of parents is kind of evidence for nature rather than nurture, btw.

I dunno though, I'm not a geneticist and haven't studied this subject. But not going to try to leave things to nurture, if I can help it.

And regarding intelligence being hereditary, it makes sense that it would be. Pretty much everything else is, right?

On behalf of the great Yoruba race and Yoruba intellingtsia, NJ branch, I wish her luck in her endeavor.

macjive01:
hahahaha ,. what a song( i just had sex! ) - cant believe i listened to the whole thing. mehn!

macjive01:
Abeg how else do someone age? slow?

dbanj, according to wikipedia is 31 , of which official age cud be like 36 .

so 36 yrs old man marrying 23, abi?  No wonder marriages dont last anymore.

sbeezy8:
Ive seen peanut seller that look better than gen she is shiot

chic2pimp:
The Truth They Say Is A Bitter Pill To Swallow And The Replies Of Some Of Our Ghaninan Brothers On That Site Proves That

AjanleKoko:

Funny thread.

Especially the part about whats-his-name listing his degrees in crop production and whatever. Also talking about how he gets invites to academic conferences and whatever. Hilarious.

Your friend Sefago walked this route in the past. And he bowed out when he saw my documents. That was few years back. My CV now will blow you into smithereens

THE AMAKA:
and get your head blown off in the process? i don't think so.

LOL I hope not, exaggerated a bit but they say most ppl don't fully become Doctors as in get their license till they're 30 so I'm going by that but hoping for the best.

Where's SEFAGO to answer my questions oo.

THE AMAKA:
you better stay right here before they deploy you to Maiduguri, Niger, or Adamawa

chiogo:
Oh yea, still the SEFAGO I know. School's alright, can't wait to be done so I can do my NYSC in naija too. Bet you're living the life