No. 140: Three AM Reads: Egypt Reaps from Devaluation | Private Equity Gets it Done in Uganda | Africans in the MLB

No Pain. No Gain: Egypt Edition

Yesterday, I bristled at the scenario of a group of hedge fund managers pushing for the devaluation of the Naira. A country going through a devaluation situation experiences lots of pain, but good can come from it. Egypt seems to be seeing early fruit from the devaluation it initiated last year, making it a more attractive investment destination for foreign investment dollars. We’ll see. It’ll probably take a bit more time to determine how attractive Egypt has really made itself to foreign investors.

Actis Shows Private Equity Can Still Get it Done in Africa

I was looking around this article for the “Sponsored Content” tag, because it read a bit too much like an ad. Regardless, this is a solid story of what private equity can accomplish across African markets. Actis took a struggling business in Umeme – the largest private energy provider in Uganda – and made some real changes in its business. Actis seems to be pretty happy with the returns it realized once it completed its exit from the company in December of last year. Here’s to more PE shops realizing positive returns from their investments on the continent.

South African in the Major Leagues

I would write about President Buhari trying to raise nearly $7B for infrastructure investments, but I saw this piece on the first African-born major league baseball player getting his first hit! Pretty cool!