The Editorial Team |

Tanzania awards $9 bln rail projects to Chinese companies

DAR ES SALAAM, Tanzania (Capital Markets in Africa) – Tanzania has awarded contracts to build new railway lines worth about $9 billion to Chinese firms, its transport minister said, expanding Beijing’s presence in East Africa’s second-biggest economy. Transport Minister Samuel Sitta told parliament on Saturday a Chinese consortium had been awarded a contract to build a 2,561 km (1,536 miles) standard gauge railway connecting Dar es Salaam port to land-locked neighbours at a cost of…

Egypt Market Watch | May 31st 2015: Egypt equities continue to slide losing EGP 5.4bn

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Cairo, Egypt (Capital Markets in Africa):-Egyptian equity markets slipped today, pressured by a selling tendency among Arab investors. The market capitalization lost EGP 5.4 billion to close at EGP 495.705, compared with EGP 501.110 billion on previous trading sessions. The benchmark index EGX30 declined by 1.45 percent or 129.50 points to end the day at 8,782.55 points (-1.614 percent year-to-date performance). Likewise, the small and mid-cap index EGX70 went down by 1.76 percent (or 8.42 points) to settle at…

A new dawn in Nigeria, will Buhari propel a new pathway ……?

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Lagos, Nigeria (Capita Markets in Africa):- Friday 29 May saw the inauguration of Muhammadu Buhari as the new president of Nigeria, following his election victory over Goodluck Jonathan. In his inauguration speech, Buhari set out what will form the core of his administration’s agenda, after first assuring his political opponents that he had no intention of settling old political scores as some had intimated, reiterating that the past would be left in the past. “I…

Egypt, AfDB sign two loans and a grant for Sharm el-Sheikh airport development

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Abidjan, Cote D’Ivoire (Capital Markets in Africa):- The African Development Bank (AfDB) and Egypt, on May 29 in Abidjan, signed two loans and a letter of agreement. The two loans are worth US $140 million – US $90 million from the AfDB window and US $50 million loan from the Africa Growing Together Fund (AGTF). The letter of agreement concerned a grant from the Middle Income Countries (MICs) Technical Assistance Fund of UA 1.2 million…

How to ensure Africa’s natural wealth stays in Africa

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Abidjan, Cote D’Ivoire (Capital Markets in Africa):- With mineral prices plummeting 60 % from peak highs in 2011, turning Africa’s extractive industries, which include renewable resources, into lasting profits is a primary concern for the continent’s 54 nations. According to Ministers of Trade and Mining as well as experts in the fields, transparency and diversification of economies are the best ways to make sure that happens. “We are in the process of reviewing all mining…

Africa-India partnership: an opportunity for project financing in Africa

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Abidjan, Cote d’ Ivoire (Capital Markets in Africa):- Africa-India Partnership Day was one of the major events of the 2015 African Development Bank Annual Meetings. Jointly organized on May 27 in Abidjan by the AfDB’s Private Sector Department and the Export-Import Bank of India, it brought together financiers, sponsors, contractors, researchers and other key actors of Africa and India’s private sector for networking and identifying business opportunities mutually beneficial for the continent and India. The…

Taming the dollar as regional currencies take a beating

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Nairobi, Kenya (Capital Markets in Africa):- The strengthening of the dollar against other currencies has sent East Africa central banks back to the drawing board, after enjoying two years of stability, according to The East African News. The Newspaper further reported that Central banks are now making plans to protect their shillings from a free fall that has already induced inflationary pressure and increased the cost of servicing debts for governments and corporates. As a…

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