The Editorial Team |

War-Ravaged South Sudan Draws $500 Million Oranto Oil Bet

LAGOS (Capital Markets in Africa) – Nigeria’s Oranto Petroleum International Ltd. plans to bet half a billion dollars that Africa’s newest nation can end a three-year civil war and create the conditions to revive its oil industry. Oranto, a closely held company part-owned by the Eze family that also has assets in Equatorial Guinea and Nigeria, plans to invest $500 million to develop the oil block awarded by South Sudan earlier this month. “We have faith that the differences in…

Zambia, Zimbabwe to Sell $440 Million Stake in Hydro Project

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LUSAKA (Capital Markets in Africa) – Zambia and Zimbabwe plan on selling $440 million in equity stakes in the hydropower plants that form the centerpiece of the proposed $4 billion dam that will straddle their border. This is according to a document published by Ernst & Young Advisory Services Pty Ltd., the countries’ adviser. The Batoka Gorge hydropower project on the Zambezi river between the Kariba dam and Victoria Falls, will produce 2,400 megawatts of power once complete…

Enko Capital Starts $200 Million Bond Fund Focused on Africa

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LAGOS (Capital Markets in Africa) – Enko Capital Management LLP is starting a $200 million bond fund that will focus on African sovereign and corporate debt to provide investors with yields higher than those available in developed markets. African and European institutions are backing the fund, which aims to eventually raise as much as $1 billion, and has so far invested in Zambian, Ghanaian and Nigerian government bonds, Alain Nkontchou, managing partner of Enko Capital, said by phone from London. Enko…

Capitec Says Political Risk May Delay SouthAfrica Economic Rebound

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JOHANNESBURG (Capital Markets in Africa) – The uncertainty surrounding South African Finance Minister Pravin Gordhan’s future risks heaping extra pressure on consumers and delaying a rebound in the country’s economy, according to the nation’s largest provider of loans not backed by assets. “It’s going to be a difficult year if you look at the political risk,” Capitec Bank Holdings Ltd. Chief Executive Officer Gerrie Fourie said by phone on Tuesday. “It’s probably going to be much longer before there’s a turning point…

IFC Plans More Nigeria Investment, $1 Billion in Bond Sale

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LAGOS (Capital Markets in Africa)- The World Bank’s private-lending arm plans to boost investments in Nigeria by about 20 percent as Africa’s second-biggest oil producer tries to recover from a recession. The International Finance Corp. is looking to invest about $1.2 billion in Nigeria for the year through June 2018 using equity or debt the IFC raises itself or that it mobilizes from other sources, Country Manager Eme Lore said in a March 22 interview in Lagos,…

Home Afrika of Kenya Seeking Up to $49 Million From Investors

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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,…

Nigeria stock market deals fell 22 pct last month amid naira crisis

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LAGOS (Capital Markets in Africa) – The value of trading on Nigeria’s stock market dropped by 22.3 percent to 74.1 billion naira ($236 mln) in February from a month before, the stock exchange said on Tuesday, as foreign investors kept to the sidelines. Nigeria is battling a currency crisis brought on by low prices for oil, its main export, and now operates multiple currency regimes dominated by central bank intervention, making it difficult to price…

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