The Editorial Team |

Ghana seeks bridge financing of up to $1 bln in H1 2015

ACCRA (Reuters) – Ghana will seek bridge finance of between $300 million and $1 billion in the first half of this year to redeem maturing domestic debt, according to a memo to parliament signed by Finance Minister Seth Terkper.The debt finance plan emerged as Moody’s downgraded Ghana’s sovereign rating and put the West African country on a negative outlook to reflect its increasing debt burden, large fiscal imbalances and a sharp weakening of the cedi…

African Market Watch: Friday, 20th March 2015

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BRVM [he Regional Stock Exchange, Cote d’Ivoire] BRVM (The Regional Stock Exchange of eight West Africa) closed its trading session today, higher than the previous trading day. BRVM 10 index rose from 268.38 to 269.37 points, a gain of 0.37%. BRVM Composite index gained 0.41% to 264.41 against 263.34 points previously. The equity market capitalization was recorded at XOF 6,524.51 billion, Likewise, the traded value was recorded at XOF 368.363 million and total volumes recorded at…

South Africa’s rand firms as dollar bulls take back seat

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JOHANNESBURG (Reuters) – South Africa’s rand strengthened against the U.S. dollar on Friday, shaking off a credit downgrade to state electricity company Eskom as emerging markets currencies took advantage of a weaker greenback. At 1529 GMT the rand firmed 1.9 percent to 12.0650 per dollar, having earlier hit a session high of 12.0520. The euro was headed for its best weekly performance against the dollar in more than two years, following a surprisingly dovish statement…

African Market Watch: Thurs, 19th March 2015

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BRVM [he Regional Stock Exchange, Cote d’Ivoire] BRVM (The Regional Stock Exchange of eight West Africa) closed its trading session today, slightly lower than the previous day. BRVM 10 index decreased from 268.47 to 268.38 points, a drop of 0.03%. BRVM Composite index lost 0.37% to 263.34 against 264.32 points previously. The equity market capitalization was recorded at XOF 6,498.11 billion, Likewise, the traded value was recorded at XOF 734.348 million and total volumes recorded at…

PIC puts R5bn into Northern Cape renewable energy projects

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RENEWABLE energy projects received a boost with the announcement on Wednesday of two new solar power plants to be built in the Northern Cape. The Public Investment Corporation (PIC) will invest R4.4bn, buying a 20% stake in each plant and providing debt funding for both totalling R600m. Worth R22bn, the Ilangalethu and Xina power stations are expected to contribute a combined 200MW to the national electricity grid. It usually takes two years to build a…

Abraaj, Helios Said to Be Among Possible Bidders for Actis’ EMP

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(Bloomberg) — Private-equity firms Abraaj Group and Helios Investment Partners are among potential bidders for Actis’s payment services firm Emerging Markets Payments Group, two people with knowledge of the matter said. A formal bidding process for EMP, which may fetch about $400 million, could start as soon as this month, the people said, asking not to be identified as the information is private. The sale may also draw rivals that want to expand in emerging…

FundForum Africa 2015

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22 June 2015: Unlocking Alpha Summit 23-24 June 2015: Main Conference Grand Connaught Rooms, London http://www.fundforumafrica.com/FKP2427ACMW SAVE 10%. Quote VIP code: FKP2427ACMW to claim. The Inaugural FundForum Africa will bring together fund managers focusing on, or located in, the African continent together with potential investors to discuss the opportunity of investing in Africa, benchmarking different approaches to access the growth story and unlocking the real investment promise on the African continent. Speakers include: Nicholas Piquito,…

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