ACA director delivers a keynote interview in PEI’s Africa report
September 1, 2015 – ACA Director, Mr. Afolabi Oladele, delivered a keynote address in the September issue of PEI’s Africa Special Report and discussed the emerging opportunities in Sub-Saharan Africa.
ACA invests in filmhouse cinemas and film one
November 1 2014 – African Capital Alliance (ACA) today announced its investments in Filmhouse Cinemas, the fastest growing cinema chain in Nigeria and Film One, its associated film production and distribution company.
Filmhouse opened its doors in December 2012 with the aim of delivering world class cinema experience to the Nigerian public. Backed by an experienced management team, the company quickly established itself as a key player in the cinema exhibition space, opening cinemas in key cities across Nigeria.
To further diversify its operations, and tap into another attractive segment of the film industry, the management team launched Film One, a distribution and production company, in 2014. Already, Film One has released the two highest grossing Nigerian blockbusters this year – ‘Half of a Yellow Sun’ and ‘October 1.’
Through its partnership with ACA, Filmhouse and Film One hope to scale their operations to become the leading mass media companies in Nigeria.
Speaking on Filmhouse and Film One’s growth prospects, ACA Partner Paul Kokoricha said “Despite Nigeria having one of the largest film industries in the world the cinema space is largely untapped. The world over, cinema exhibition and film distribution are key segments of the film industry and the main drivers of economic value in the sector. We are looking forward to partnering with the team to deliver on the promise of the sector.”
Mr. Kene Mkparu, co-founder and Managing Director of Filmhouse commented on the transaction, saying “We are delighted with Africa Capital Alliance’s investment in our strategic plans for cinema roll-out expansion, film distribution and production. With this investment we can scale up quickly and strengthen our position as an industry leader.We believe ACA brings valuable local and international expertise that will help grow our business.”
ACA is currently investing out of its third fund (CAPE III), a $400 million private equity fund.
Chairman of ACA speaks at the 2014 Chartered Institute of Bankers of Nigeria (CIBN) investiture
October 20, 2014 – Chairman of ACA, Mr. Dick Kramer, gave the keynote address at the 2014 Chartered Institute of Bankers of Nigeria (CIBN) investiture, which held in Lagos. He spoke on the theme ‘Making Nigeria a major Destination for Foreign Direct Investment.’
According to Dick Kramer, privatizing downstream petroleum, unlocking natural gas potential, agribusiness and other business potential is the pathway to attracting Foreign Direct Investment (FDI) into the country.
Please click here for the full story.
ACA features in the September issue of Private Equity International (PEI)
September 2014 – CEO of ACA, Mr. Okey Enelamah, discussed Nigeria’s growth potential in a keynote interview with Private Equity International.
Please click here to view the full interview on pages 13 & 14.
Protea Hotel Select Ikeja opens its doors
August 2, 2014 – Capital Alliance Property Investment Company (CAPIC) an ACA-managed fund, has announced the opening of Protea Hotel Select Ikeja. Protea Hotel Select Ikeja is the result of a partnership deal made between CAPIC and the Skye Shelter Fund, a real estate investment fund, to increase the availability of quality, affordable business accommodation in the country. The hotel also feeds into CAPIC’s wider strategy, which will see the additional launch of Protea Hotel Selects in Owerri and Takoradi, Ghana in 2015, to take advantage of the growing trend in real estate development across the West African region.
Protea Hotel Select Ikeja is strategically located in an under-served part of the Ikeja Central Business District in Alausa, which has no other branded hotel within a three mile radius. It is also conveniently located across the road from the Ikeja City Mall and the Lagos State Government’s Secretariat. Additionally, it is about 5 minutes away from the Oba Akran Industrial Area and 15 minutes away from the Murtala Muhammed International Airport.
With 117 fully equipped rooms, this international business hotel will cater to corporate travelers by providing a variety of room types with en-suite bathrooms, mini-bar fridges, satellite TV, high speed internet and tea/coffee making facilities. Its restaurant serves buffet breakfast, lunch and buffet dinner, with a strong focus on Continental and Nigeria Cuisine. Other hotel facilities include a 24-hour bar, a 50-delegate meeting room, ample parking, free Wi-Fi access and shuttle service. The hotel will be managed by Protea Hotel, the largest hotel operator in Africa and a member of the Marriott Group.
Commenting on the opening, Mr. Obi Nwogugu, the CAPIC Fund Manager stated: “We are excited to add Protea Hotel Select Ikeja to our chain of hotels; it complements our objective to develop hospitality infrastructure in under-served markets across Nigeria and West Africa and we are confident that it will meet the global standard of service and comfort demanded by our business travelers.” Speaking on the hotel management team, Mr. Patrick Ilodianya, the Managing Director of Skye Shelter Fund stated: “The partnership with Protea Hotel provides best practices in comfort, health and safety in our hotel and reinforces our commitment to consistently deliver international standards at the right price.”
ACA is currently investing out of its first real estate fund (CAPIC I), a $165 million private equity fund.