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Alterra Capital, backed by Dangote and Rubenstein, has acquired Kenya’s iconic Pollman’s Tours — a bold private equity move into East Africa’s recovering tourism sector.
Although the eastern African leader has no plans to seek further funding from the IMF in the near term, its outstanding obligations to the lender, currently over SDR 2.8 billion, remain a concern.
The fund’s latest move aligns with it’s broader goal of protecting the purchasing power of Namibian annuitants amid economic changes.
With Brent crude hovering near the sub-$60 mark—Nigeria’s fiscal break-even—concerns are mounting that sustained low prices could reopen current account deficits and heighten macroeconomic vulnerabilities.
With 60% of the fund’s pension pot tied up in government debt, retirees remain heavily exposed to the effects of the West African nation’s mounting inflationary pressures.
While Nigeria’s portfolio investments more than doubled in 2024, foreign direct investment plummeted to nearly half of the previous year’s figure.
The finance ministry says Nigeria’s delayed Eurobond coupon—due 28 March—was paid within days. Investors had flagged the missed deadline.
We sat down with the Gbenga, who’s bringing 17 years of traditional asset management expertise to Sycamore—to discuss the future of investing in Nigeria