Also: Telecommunications industry set for M&A activity and American Tower acquires Eaton Towers.
South African billionaire Patrice Motsepe has taken the bold move to start an insurance entity that is set to compete with the country’s largest insurers. Through his investment holding company African Rainbow Capital, Patrice launched a long-term insurance company in partnership with Sanlam called African Rainbow Life, which aims to offer a suite of insurance products to South Africa’s low-to-middle-income consumers.
Read more: South Africa’s insurance industry is in for a shake-up
Royal Dutch Shell is planning to acquire an oil-block stake in a second deal in South Africa’s relatively unexplored waters, months after a major discovery by Total SA boosted the country’s hydrocarbon prospects.
Read more: Shell to sign major oil deal in South Africa
JSE-listed MAS Real Estate plans to divest from Western Europe so it can focus on fast-growing Eastern Europe.
MAS’s recently appointed CEO Werner Behrens (pictured) said his aim is for MAS to become the pre-eminent real estate investment and development company in Central and Eastern Eurpoe, focused on delivering sustainable dividend growth to shareholders.
Read more: MAS Real Estate to divest from Western Europe
Global consultancy firm McKinsey & Company says regional mobile phone markets are ripe for consolidation to reduce costs, lower investment requirements and allow weaker firms to survive.
Read more: East Africa’s telecommunications industry set for M&A activity
Boston-based American Tower has acquired Eaton Towers, which owns and operates approximately 5,500 communications sites across five African markets, for $1.85 billion.
Read more: American Tower to buy Africa-based Eaton Towers
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