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Weekly Roundup | 06.18.2024

Our pick of headlines this week impacting commercial real estate in sub-Saharan Africa and the broader emerging markets.

 

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Africa


📰 DP World Plans $3 Billion African Ports Investment by 2029


“The cost of logistics and supply chain across Africa is very high relative to other global markets,” which presents a good opportunity, Mohammed Akoojee, DP World’s chief executive officer and managing director for sub-Saharan Africa, said in an interview on Bloomberg Television… Read More


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📰 Why Avocados are Driving Another Sort of Green Economy in Kenya


Already the biggest African avo-exporter, well ahead of South Africa, Kenya has been expanding its sales to Europe and is trying to push into the mass markets of India and China… Read More


📰 Shopping Mall Vacancies Decline to 4% During Q1 2024 in South Africa


Retailers’ cost of occupancy decreased during Q1 2024 with sales growth outpacing rental growth. While the overall cost of occupancy is currently at its best level in over ten years… Read More


🎦 Watch: Dangote Speaks Candidly at 31st Afreximbank Annual Meeting in the Bahamas Last Week


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📰 Mixed Bag for Nigeria’s Economy in Tinubu’s First Year


The government plans to strengthen the foreign exchange market and, by extension, the economy “by raising revenue, by looking at other sources of investment funding, by attracting investment funds, equity funds, not debt from those around the world interested in investing in the Nigerian economy,” Wale Edun, the minister of finance and coordinating minister of the economy..… Read More


📰 Development Partners International Exits International Facilities Services


IFS provides property management services across Africa, with customers in Mozambique, DRC, Namibia, Zambia, and South Africa. In 2019, UK-based DPI invested $35 million and this exit marks DPI’s second exit of 2024… Read More

 

Global


📰 US-Based Mexico Pacific Announces Plans to Invest Another $15 Billion in Mexico


The planned outlay will increase the LNG company’s investment in Mexico to $30 billion, which El Financiero said was the highest amount ever for a single investor in this country. The figure is equivalent to over 80% of Mexico’s total foreign direct investment in 2023...… Read More


📰 Diageo Becomes Latest Multinational to Sell Its Nigeria Unit


58% of the Nigerian business will be sold for $70 million to Singapore-based Tolaram. Unilever Plc, Procter & Gamble Co., GSK Plc and Sanofi in recent months have also announced exits from Nigeria.… Read More


📰 Walmart’s Major Investment in Guatemala Signals Economic Growth


Walmart has announced a significant investment of $700 million in Guatemala, to be distributed over the next five years. This move is part of Walmart’s broader strategy to enhance its presence in Central America… Read More



📰 China New Home Prices Fall at Fastest Clip in Nearly 10 Years


Prices were down 0.7% in May from the previous month, marking the 11th straight month-on-month decline and steepest drop since October 2014. Authorities have stepped up measures to prop up the crisis-hit property sector including facilitating 300 billion yuan ($41.35 billion) to clear massive housing inventory, cutting down payments and easing mortgage rules.… Read More

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