VENTURES AFRICA – The Abraaj Group, a leading investor operating in growth markets, today announced its agreement to acquire a 100 percent stake in Fan Milk International (FMI), West Africa’s market leading manufacturer and distributor of frozen dairy products and juices. Commenting on the transaction, Arif Naqvi, Founder and Group Chief Executive of the Abraaj [...]

VENTURES AFRICA – Labour union, Association of Mineworkers and Construction Union (AMCU) at Xstrata’s Steelpoort mine in Limpopo was on Wednesday meeting with stakeholders in the Sekhukhune area in an attempt to halt a feud where up to 2000 miners were dismissed. Employers affiliated to AMCU went on an unprotected strike three week ago accusing [...]

VENTURES AFRICA – The Confederation of African Football (CAF) has slapped Congolese club, TP Mazembe with a $5000 fine and a one-year ban for a club official for assaulting a referee during the club’s loss to Orlando Pirates in an African Champions League game last April in Soweto. The Congolese club have since denied the assault claim stating [...]

VENTURES AFRICA – Nigeria’s Minister of Communication Technology, Mrs. Omobola Johnson, disclosed on Tuesday that two mobile phone manufacturers, Ghana-based RLG, and Mi-Fone, would begin production in Nigeria before the last quarter of the year. While presenting the mid-term review and achievements of her ministry at a ministerial meeting in Abuja, the minister said: “RLG [...]