The Editorial Team |

Africa’s Largest Data-Center Firm Raises $91 Million for Growth

JOHANNESBURG (Capital Markets in Africa) – Teraco Data Environments, which says it is the largest provider of data-center services in Africa, said it raised 1.2 billion rand ($90 million) from South African lender Barclays Africa Group Ltd. to invest in information-technology infrastructure on the continent. The closely held business will use some of the cash to complete the construction of a new data center in eastern Johannesburg by the end of year, according to a statement e-mailed…

Mota-Engil, CMEC of China Win $2.3 Billion Mozambique Project

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MAPUTO (Capital Markets in Africa) – Thai Mocambique Logistics SA, which is developing a $2.3 billion railway and port to export coal from central Mozambique, awarded the construction contract to Mota-Engil SGPS SA and China National Complete Engineering Corp. An agreement is expected to be signed next month, TML Chief Executive Officer Jose Pires da Fonseca said in an interview Tuesday in the Mozambican capital, Maputo. The total cost of the project, which will include a deep-water harbor…

Lending cap, drought hurting Kenya’s banks: Equity Group CEO

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NAIROBI (Capital Markets in Africa) – Kenyan lenders are facing severe turbulence, grappling with a government cap on commercial lending rates, and the impact of a drought, Equity Group Chief Executive James Mwangi said on Wednesday. Equity, one of the country’s biggest by customers, saw its pretax profit edge up 3.75 percent last year to 24.9 billion shillings ($242.22 million), as it boosted provisions for bad debts. Mwangi said the cap on rates, at 4…

Nigeria’s inflation slows after fifteen months in February

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LAGOS (Capital Markets in Africa) – Inflation in February accelerated at a slower pace to 17.87% YoY (January: 18.72% YoY; Consensus Estimate: 17.32% YoY), with prices pulling back after fifteen months of consecutive increase. Whilst the rise in food prices remained strong in February at 18.53% YoY, the “All Items Less Farm Produce Index” ( a proxy for core inflation) provided the buffer for the headline CPI, moderating for the third consecutive month to 16.01%…

Nampak Shares Drop as Funds Trapped in Nigeria, Angola Increase

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LAGOS (Capital Markets in Africa) – Nampak Limited fell after Africa’s biggest beverage-can maker said cash stranded in Nigeria and Angola rose in the five months through February as it continues to battle to get money out of the countries. The stock fell as much as 2.3 percent to 15.99 rand before trading 0.7 percent lower at 10:30 a.m. in Johannesburg, extending its decline this year to 12 percent and giving the company a market value of 11 billion…

CIM Financial of Mauritius Sees Global Unit Sale Boosting Credit Business

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PORT LOUIS (Capital Markets in Africa) – CIM Financial Services Limited., which has operations spanning Mauritius and Singapore, plans to focus on developing its consumer-credit and real-estate businesses after selling off its Global Business unit. The company, based in Port Louis, announced earlier on Tuesday that it’s selling its Global Business unit — which offers corporate, trust and fiduciary services — to Luxembourg-based SGG SA for $90.3 million. The deal “will allow CIM to benefit from an important…

Africa Finance Corporation Invests US$25 million in Egypt’s Carbon Holdings

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LAGOS (Capital Markets in Africa) – Africa Finance Corporation (AFC), a leading pan-African multilateral development finance institution and project developer, has announced it is to invest US$25 million in Egyptian petrochemicals company Carbon Holdings Ltd. Carbon Holdings primarily operates in the Suez Special Economic Zone. As well as exporting raw materials and end products, the company aims to develop an integrated large-scale petrochemicals platform in Egypt to take advantage of the country’s strategic geographic location…

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