Eskom Suspended CFO Quits Before Facing S. African Lawmakers

Eskom Suspended CFO Quits Before Facing S. African Lawmakers

JOHANNESBURG (Capital Markets in Africa)  – The suspended chief financial officer of South Africa’s cash-strapped power utility resigned a day before he’s due to face a parliamentary inquiry on mismanagement of funds and two days after the government overhauled the company’s board. Eskom Holdings SOC Ltd. received a letter of resignation from Anoj Singh’s attorneys Monday, the Johannesburg-based electricity producer said by email. He resigned with immediate effect, it said. Eskom suspended Singh in late September…

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Cameroon, Chad Seek Company to Study $9 Billion Railway Plan

Cameroon, Chad Seek Company to Study $9 Billion Railway Plan

YAOUNDE (Capital Markets in Africa) – Transport authorities in Cameroon and Chad are looking for a company to carry out feasibility studies for the construction of a rail link between the neighbouring Central African countries. “Apart from designating the firm to conduct the studies, we’re also looking for a contractor for the project,” Cameroon’s Transport Minister Edgar Alain Mebe Ngo’o said in an interview in the capital, Yaounde. The railway is estimated to cost 5 trillion…

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Abraaj Is Said to Hire Citigroup for North Africa Hospitals IPO

Abraaj Is Said to Hire Citigroup for North Africa Hospitals IPO

CASABLANCA (Capital Markets in Africa) – Abraaj Group, a buyout firm focused on emerging markets, hired Citigroup Inc. and EFG-Hermes Holding SAE to manage an initial public offering or sale of its North African hospitals business, according to people familiar with the matter. The private equity firm plans to list the business or find a buyer during the first half of the year, the people said, asking not to be identified as the information is private. The…

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Laureate Education To Sell Morocco University to KMR Holding

Laureate Education To Sell Morocco University to KMR Holding

CASABLANCA (Capital Markets in Africa) – Laureate Education, Inc. (NASDAQ:LAUR), the world’s largest global network of higher education institutions, and KMR Holding Pédagogique, the leading state-recognized multi-disciplinary private higher education platform in Francophone Africa, have signed an agreement for the sale of Laureate’s institution in Morocco – Université Internationale de Casablanca (UIC). UIC, which opened its doors in 2010, is located in the economic and education hub of Morocco, and is the first and only…

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Life Healthcare Said to Weigh Sale of India Hospital Chain Stake

Life Healthcare Said to Weigh Sale of India Hospital Chain Stake

JOHANNESBURG (Capital Markets in Africa) – Life Healthcare Group Holdings Ltd., the second-largest private hospital owner in South Africa, is considering a sale of its stake in India’s Max Healthcare Ltd., people with knowledge of the matter said. The Johannesburg-based company is working with Barclays Plc to explore potential interest in its holding in Max Healthcare, which is one of India’s largest private hospital chains, the people said. Life Healthcare and Mumbai-listed Max India Ltd. each own 49.7 percent…

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Mediterrania Capital Partners announces the first closing of Mediterrania Capital III LP at €103 million

Mediterrania Capital Partners announces the first closing of Mediterrania Capital III LP at €103 million

Barcelona/Malta. Mediterrania Capital Partners, the private equity firm focused on growth investments for SMEs in North African and Sub-Saharan countries, announces the first closing of its third capital growth fund, Mediterrania Capital III LP, at €103 million. Mediterrania Capital III (MC III) provides growth capital to generalist small- and medium-cap companies based in North African and Sub-Sahara African countries including Morocco, Algeria, Tunisia, Egypt, Senegal, Côte d’Ivoire and Cameroon. The fund will be investing €10-30…

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Hedge-Fund Platforms Fear Bitcoin Is a Fad Like Tamagotchi

Hedge-Fund Platforms Fear Bitcoin Is a Fad Like Tamagotchi

  LAGOS (Capital Markets in Africa) – Bitcoin’s march toward respectability faces another hurdle as hedge-fund platforms reject the overtures of firms trading cryptocurrencies. Brooklands Fund Management, Mirabella Advisers and Privium Fund Management — which provide back-office functions and regulatory help for investment firms — all say they’ve had discussions with bitcoin funds in recent months. So far, they’ve turned down requests to take them on as clients, citing a lack of understanding about the value…

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