The Editorial Team |

Egypt’s Medinet Nasr Plans Investment to Bolster Taj City Sales

CAIRO (Capital Markets in Africa) – Egyptian real estate developer Medinet Nasr Housing plans to invest about 700 million Egyptian pounds ($40 million) on construction this year as it begins selling the non-residential parts of its Taj City project east of Cairo. The Cairo-based company expects to start sales in the office district in the fourth quarter and will begin talks with hotels in the second half after finishing plans for the hospitality element of the project,…

As Election Begins, El-Sisi Ponders How Hard to Push Egypt

Posted on by The Editorial Team

CAIRO (Capital Markets in Africa) – Horns blare as the car screeches to a halt near a Cairo supermarket. “Don’t you have any integrity?” the driver screams at a man erecting a poster of Egyptian President Abdel-Fattah El-Sisi ahead of this week’s elections. “Hasn’t he done enough to us?” The billboard was extolling the achievements of the former army general, who is running virtually unopposed for a second, four-year term with seemingly much to brag about. After…

Zimbabwe Power to Draw Down $199 Million for Hwange Expansion

Posted on by The Editorial Team

HARARE (Capital Markets in Africa) – The Zimbabwe Power Co. will draw down $199 million from a China Export-Import Bank loan in April to begin building additional units at the Hwange Thermal Power Station, acting Managing Director Joshua Chirikutsi said. Upon completion, the $1.5 billion units 7 & 8 will add 600 megawatts to the existing 920-megawatt plant, Zimbabwe’s biggest. ZPC and Sinohydro Corp. will own 64 percent and 36 percent respectively of the proposed…

The Disappearing $1.1 Billion Behind Shell, Eni Trial: QuickTake

Posted on by The Editorial Team

LAGOS (Capital Markets in Africa) – Royal Dutch Shell Plc and Eni SpA are going to trial in Italy over bribery charges involving an oil field in Nigeria. Two things are unusual about the case. One is the sheer scale of the sum involved — $1.1 billion. The other is that the defendants include Eni’s Chief Executive Officer Claudio Descalzi, the company’s former CEO and a former top executive at Shell. Hearings resume in Milan on May 14. What…

Uganda Oil Investments Seen Doubling Size of Economy by 2025

Posted on by The Editorial Team

KAMPALA (Capital Markets in Africa) – Uganda’s economy may double in size by 2025 as investments in the oil industry stimulate growth, the country’s biggest lender said. The $15 billion expected to be spent before crude production starts in 2020 will benefit a range of sectors, boosting the East African nation’s gross domestic product to $60 billion, Stanbic Bank Uganda Chief Executive Officer Patrick Mweheire told reporters Wednesday in the capital, Kampala. Participation of local companies in…

Olam Eyes Fish Farming in Africa to Tap Growing Middle Class

Posted on by The Editorial Team

LAGOS (Capital Markets in Africa) – Olam International Limited, one of the world’s largest food traders, is considering expanding into fish farming in Africa to tap demand from a growing and more affluent population. The Singapore-based firm is conducting a feasibility study on farming fish in West Africa, likely in Nigeria, the continent’s most populated country, Chief Operating Officer Shekhar Anantharaman said. Olam could potentially start the venture with partner and shareholder Mitsubishi Corp., which owns fish…

Ecobank to Boost Transaction Income to Reduce Lending Focus

Posted on by The Editorial Team

LAGOS (Capital Markets in Africa) – Ecobank Transnational Inc., the most geographically diverse African lender, plans to increase revenue from transactions rather than depending on interest from loans, Chief Executive Officer Ade Ayeyemi said. “We’ve been a big lending bank, we are now moving more and more to a big transaction services bank,” he said on the sidelines of the Africa CEO Forum in Abidjan, the commercial capital of Ivory Coast. “You need to be a balanced…

« 1 … 524 525 526 527 528 … 1,076 »