4 African Business August/September 2019
Business Intelligence News
Lusophone Compact to benefit Angola’s private sector Angola, Portugal and the A frican Development Bank (AfDB) have signed a c ompact designed to accelerate the growth of A ngola’s private sector. The deal will help implement the w ider Lusophone Compact, a fi nancing platform involving t he AfDB, Portugal, and the s ix Portuguese-speaking c ountries of Africa. It provides risk mitigation, i nvestment products and technical assistance to accelerate private sector development.
Foreign private investment now as big as foreign aid Foreign private investment now supplies about as much fi nance as foreign aid in m any low-income countries, including in Africa, according to a study by the Center for G lobal Development. The study examined foreign p rivate capital flows – m eaning foreign direct investment, portfolio equity a nd debt, and bank and other l ending – to low-income c ountries, including 19 in s ub-Saharan Africa. Much of t he new investment in Africa i s coming from China.
The UK’s Serious Fraud Office (SFO) has opened an investigation into banknote and passport printer De La Rue and “associated persons” over “suspected corruption” in its business in South Sudan. De La Rue, which supplies international central banks, said that the SFO had informed it of the investigation and that it would cooperate. Shares in De La Rue plunged nearly 16% following the news.
SFO investigates banknote printer’s South Sudan operations
Cameroonian Joel Embiid (centre) in action for the Philadelphia 76ers versus the Boston Celtics.