The Editorial Team |

Orange Seeking Partnerships Rather Than Acquisitions in Africa

LAGOS (Capital Markets in Africa) – Orange SA is seeking to build partnerships in Africa rather than making major acquisitions or entering new markets as the French phone carrier focuses on its existing businesses in 21 countries on the continent. Mobile-phone operators in Africa have to increasingly share their investment in infrastructure to reduce costs, Bruno Mettling, Orange’s deputy chief executive officer in charge of operations for Africa and the Middle East, said in an interview…

Zambian Debate on Impeaching President May Not Happen Until June

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HARARE (Capital Markets in Africa) – An opposition party proposal to impeach Zambian President Edgar Lungu may not be debated until June after it wasn’t included in Wednesday’s parliamentary program as expected, and as the legislature closes this week for a two-month recess. The motion brought by Zambia’s main opposition party accuses Lungu of violating the constitution and has been dismissed by the government as frivolous. It has ratcheted up tensions in the southern African nation,…

Spreading Islamic Banking in Uganda, One Sermon at a Time

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KAMPALA (Capital Markets in Africa) – Islamic preacher Imam Idi Kasozi’s Friday sermons in the Ugandan capital typically focus on three subjects: faith, mercy — and religiously compliant banking products. Whether speaking from the pulpit in Kampala or at social functions, the 59-year-old has become Uganda’s most ardent promoter of Islamic banking, a practice the nation is set to follow neighbours Kenya and Tanzania in adopting after years of debate. And though Kasozi perceives a religious obligation, others…

Home Afrika of Kenya Seeking Up to $49 Million in Investment

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NAIROBI (Capital Markets in Africa) – Home Afrika Limited, a Kenyan property developer, will return to debt markets to raise as much as 5 billion shillings ($48.6 million) and complete projects in the capital and on the East African nation’s coast. The company, based in Nairobi, has picked Genghis Capital Ltd. to offer between 2 billion and 5 billion shillings to international investors in the first phase of the funds drive that’s set to begin by April,…

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

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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

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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

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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…

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