New York, US-based investment firm TPG Growth committed $100 million in a joint venture with Gurgaon, India-based emerging business market builder Smile Group to help Internet and e-commerce firms expand to India, Africa, and other emerging markets.
South Africa
Briton denies guilt in South African 'honeymoon murder' trial
Millionaire British businessman Shrien Dewani on Monday denied arranging his bride's murder during their honeymoon in South Africa, four years after she was found shot dead in an abandoned car.
Nomanini secures additional ZAR 4.8million investment for international expansion
Nomanini was able to secure an additional investment of ZAR 4.8 million ($449,000) from the Industrial Development Corporation (IDC). The company provides a unique and colorful mobile Point-of-Sales (Pos) terminal to mobile operators...
Two unions to take South Africa's Telkom to court over planned retrenchments
Two unions representing some of Telkom SA's workers said on Tuesday they would take the South African landline provider to court over possible retrenchments.
South Africa's Telkom takes second shot at IT firm BCX, offers $256 million
South African telecommunications company Telkom (TKGJ.J) made a second stab at buying IT infrastructure firmBusiness Connexion (BCXJ.J) with a 2.7 billion rand ($256 million) offer, seven years after competition concerns scuppered its first bid.
Latest News
Johannesburg, South Africa-based media firm Times Media Group (TMG) picked up a 49% stake in Nairobi, Kenya-based broadcasting company Radio Africa Ltd in a deal valued at $18.62 million ZAR1.58 billion.
Cape Town, South Africa-based startup accelerator 88mph is expanding to Lagos, Nigeria to begin a new venture with seed funding specialist L5Lab to fund startup programs.
Johannesburg, South Africa-based banking network Nedbank Capital is looking for new mining investment destinations in Africa, aside from gold explorations in Tanzania, Ghana, and Burkina Faso.
Africa is already in the radar of large American technology corporations and venture capitalists as IBM, Microsoft and Intel Capital make bets on startups in the continent, TechCrunch reported.
Koos Bekker, the Chief Executive Officer of South Africa-based e-commerce and media giant Naspers Ltd, will be stepping down on April. He will be replaced by Bob van Dijk, Reuters reported.
Robert Lamprecht has been named as the South Africa Chief Executive Officer of Renaissance Capital Holdings, a Russia-based investment bank. He replaces Clifford Sacks who now serves as the firm's South Africa Chairman, Bloomberg reported.
To streamline its private equity and real estate fund operations, South Africa-based IDS Fund Services has selected the technology solutions offered by eFront, a statement said.
AECI Ltd, the South African explosives and chemicals manufacturer, will be buying the the African water treatment business of Clariant for a price tag of $36.7 million, Bloomberg reported.
Primus Power, a provider of low-cost grid-scale energy storage solutions, bagged $20 million for the first close of its Series C round led by South Africa-based Anglo American Platinum Ltd.
