Author: The Editorial Team

CAIRO (Capital Markets in Africa) – Egypt and Saudi Arabia signed almost $8 billion in deals as the oil-rich kingdom’s crown prince began a Middle East tour aimed at promoting his role as a regional power-broker.   The two nations signed 14 investment pacts valued at $7.7 billion, Egyptian state-run Middle East News Agency reported Tuesday, covering sectors including renewables, pharmaceuticals and e-commerce.  Among them was an agreement with ACWA Power to generate and transfer…

LAGOS (Capital Markets in Africa) – Elon Musk cautioned there are a number of issues to iron out before he can complete his $44 billion takeover of Twitter Inc., including getting an accurate measure of bots on the social media platform and completing financing for the deal. The proportion of fake, spam and bot accounts on the service is “still a very significant matter,” Musk said in an interview with Bloomberg News Editor-in-Chief John Micklethwait at the…

NAMIBIA (Capital Markets in Africa) – Namibia expects its biggest oil discoveries since independence to help double its economy by 2040, Jennifer Comalie, chairperson of National Petroleum Corp. of Namibia, said in a Bloomberg TV interview. TotalEnergies SE in February said it had made a “significant” oil discovery off the coast of Namibia, three weeks after Shell Plc announced a find off the southwest African nation. Explorers have drilled more than a dozen exploration wells in search of…