The Editorial Team |

Consol Seeks to Raise $227 Million With Johannesburg Listing

JOHANNESBURG (Capital Markets in Africa) – Consol Holdings Ltd., the glass-packaging maker that last traded on Johannesburg’s bourse more than a decade ago, said it’s plotting a return and is seeking to raise 2.7 billion rand ($227 million). Consol delisted in 2007 after a group of private-equity investors led byBrait SE took it private. Consol’s return, mooted for at least three years, previously faced uncertainty amid South African political turmoil and slowing economy. Under new President Cyril…

South African Miners Win Court Fight on Black Ownership Rule

Posted on by The Editorial Team

JOHANNESBURG (Capital Markets in Africa) – South African mining companies won court backing on a crucial black-ownership principle that’s likely to have implications for ongoing negotiations with President Cyril Ramaphosa’s government. Producers don’t need to top up black-shareholding levels in perpetuity if they previously met the minimum 26 percent requirement, the High Court in Pretoria said on Wednesday. The judgment boosts certainty for investors in the world’s top platinum producer and gives mining companies extra muscle…

Zimbabwe Wants Mining Companies to List on Local Exchange

Posted on by The Editorial Team

HARARE (Capital Markets in Africa) – Zimbabwe wants mining companies operating in the country to list the majority of their shares on the local exchange, stirring uncertainty among investors as the nation with the world’s biggest platinum reserves after South Africa tries to bring in money to fix the economy. “No mining right or title shall be granted or issued to a public company unless the majority of its shares are listed on a securities…

Ghana Weighs Panda to Samurai as $2.5 Billion Bond Sale Nears

Posted on by The Editorial Team

ACCRA (Capital Markets in Africa) – Ghana is considering selling bonds from China to Japan as the country prepares to issue as much as $2.5 billion in foreign-currency debt this year. Last month, lawmakers in the West African nation gave approval for the Finance Ministry to proceed with a debt sale. Ghana will use $1 billion to help meet its 2018 budget and the remainder to refinance dollar bonds of as much as $1.5 billion should…

Ex-Civil War Leader Wins Presidential Vote in Sierra Leone

Posted on by The Editorial Team

FREE TOWN (Capital Markets in Africa) – Sierra Leone elected as president an opposition politician who briefly ruled the West African nation as head of a junta during the civil war in the 1990s. Julius Maada Bio of the Sierra Leone People’s Party was declared the winner on Wednesday of a tight presidential run-off by the electoral commission after receiving 51.81 percent of ballots cast against 48.19 percent for his opponent, Samura Kamara, of the All…

Failed Bank Buyout Deal Shows Perils of Investing in Nigeria

Posted on by The Editorial Team

LAGOS (Capital Markets in Africa) – It looked like a done deal between a Nigerian bank in need of funding and a U.S. private-equity firm keen to stump up the cash. But even after documents were signed it fell apart, showing how tough the African nation can be for investors. Milost Global Inc. said it penned an agreement in November to provide $1 billion of financing that would’ve given it 60 percent of Unity Bank…

Tanzania Grants Bail to Opposition Leaders Accused of Sedition

Posted on by The Editorial Team

DAR ES SALAM (Capital Markets in Africa) – A Tanzanian court granted seven opposition officials bail after most were detained for a week on charges of sedition, incitement to violence and unlawful assembly, their political party said. Chadema Party Chairman Freeman Mbowe, Secretary-General Vincent Mashinji and four others had been remanded in custody since March 28. A seventh person, lawmaker Halima Mdee, was arrested April 1 on arrival at the airport in Dar es Salaam, the commercial…

« 1 … 523 524 525 526 527 … 1,077 »