The Editorial Team |

African Market Watch: Tuesday, 3rd March 2015

Egypt: Indices of the Egyptian Exchange (EGX) closed on mixed performance today, as the market capitalization added EGP174.5mn backed by the buying spree of Local institutions for second day in row. The benchmark index EGX30 inched up by 0.20% or 19pts to end at 9475.27pts. The EGX70, which measures small and mid-cap stocks, went down 0.49% to 562.41pts and the broader index EGX100 lost 0.18% at 1124.5pts. Today’s turnover amounted to EGP551.6mn, while traded volume…

Private Equity Investment in Africa Buoyed by Continuous Growth in 2014

Posted on by The Editorial Team

London, United Kingdom, 2 March 2015: The outlook for private equity in Africa remains exceptionally positive for 2015, a new report by the African Private Equity and Venture Capital Association (AVCA) reveals. This is in spite of ongoing challenges concerning subdued growth prospects in Europe and China and any short-term uncertainties on the continent itself. The report, released on 27th February 2015, shows growing support for, and increased investor confidence in, African private equity over the…

Nigeria’s Honeywell group plans to spin off two units in next two years

Posted on by The Editorial Team

LAGOS (Reuters) – Nigerian conglomerate Honeywell group plans to invest 150 billion naira ($750 mln) over the next 2-3 years to fund growth across its businesses and will list one or two subsidiaries on the local bourse, its chairman said. Oba Otudeko told the Reuters Africa Investment Summit on Monday that Honeywell, with interests in agriculture, real estate and energy, is expanding capacity to tap into the consumer base in Africa’s biggest economy. “We have…

Abraaj sets up $200 mln North Africa healthcare group

Posted on by The Editorial Team

Dubai, United Arab Emirates, 2nd March 2015: The Abraaj Group, a leading private equity investor operating in global growth markets, today announced the formation of the North Africa Hospital Holdings Group (NAHHG), a healthcare investment platform to enhance the quality and accessibility of health care in Egypt and Tunisia, in partnership with leading development financial institutions – the European Bank for Reconstruction and Development (EBRD), Deutsche Investitions- und Entwickungsgesellschaft mbH (DEG), and the Société de…

Nestle Nigeria slows capex as consumers feel devaluation pinch

Posted on by The Editorial Team

LAGOS (Reuters) – Nestle Nigeria’s chief executive expects the firm’s capital expenditure to slow to its lowest level in five years after a currency devaluation dampened customer spending in Africa’s biggest economy. Dharnesh Gordhon told Reuters Africa Investment Summit that consumers in Africa’s most populous nation were suffering from the devaluation triggered by a sharp drop in the price of oil, Nigeria’s main export. A raging Islamist insurgency in the north had also limited the…

African Market Watch: Monday, 2nd March 2015

Posted on by The Editorial Team

Egypt: The Egyptian Exchange (EGX) indices rallied on Monday, gaining nearly EGP 5.8bn, amid a buying spree among local institutions. The benchmark index EGX30 rose 1.86% – its biggest one day gain in a month and a half – to close at 9456.33 points. Monday’s turnover amounted to EGP 492.2 mn, while traded volume reached 106mn shares. The small and mid-cap index EGX70 also gained 1.34% to 565.16pts, while the broader index EGX100 shut 1.30%…

Egypt expects LNG deals with Shell and Total in new bid round

Posted on by The Editorial Team

* New LNG deals expected with Shell and Total * BG Group in line to win higher gas payments * New LNG bid round/talks to start by mid-year By Oleg Vukmanovic and Shadi Bushra March 2 (Reuters) – Egypt expects to agree additional liquefied natural gas (LNG) import deals with Shell and Total, and is close to paying BG Group more for the gas it produces offshore, its oil minister said on Monday. Sherif Ismail…

« 1 … 126 127 128 129 130 … 141 »