The Editorial Team |

Nigeria sells US$1 billion to Eurobond Market Despite Investors’ Naira Concern

LAGOS (Capital Markets in Africa) – Nigeria returned to international capital markets for the first time since 2013 and sold US$1 billion of 15-year bonds at 7.875 percent, which is below the initial target of about 8.5 percent. The US$ 1 billion Eurobond was approved by the Nigeria’s parliament to help finance its budget deficit -mainly for capital expenditures. Nigeria’s economic growth and U.S. dollar earnings are likely to gradually improve in 2017, supported by…

AFC makes maiden $205m mining investment in Guinea-Conakry

Posted on by The Editorial Team

LAGOS (Capital Markets in Africa) – An international consortium including Africa Finance Corporation (AFC) is set to invest in Alufer Mining Limited to fund the development of Guinea-Conakry’s high grade bauxite reserves. The US$205 million deal will be one of the largest foreign investments in the country since the 2014 Ebola crisis. Once complete, the project will increase production levels in line with global demand, which at present outpaces supply. Currently, there is a greater…

Carlyle takes majority stake in CMC Networks

Posted on by The Editorial Team

Johannesburg (Capital Markets in Africa) – CMC Networks (CMC), Africa’s largest managed connectivity provider, today announced that The Carlyle Group (NASDAQ: CG), a Global Alternative Asset Manager, has acquired a majority shareholding in the company/ CMC. The transaction value exceeds $100 million (R1.4 billion) and Carlyle’s investment will give them a majority shareholding. Further financial details of the transaction were not disclosed. Founded in 1989, CMC has the largest managed connectivity network in Africa, with…

UAE’s Dana Gas freezes Egypt investments over debts

Posted on by The Editorial Team

CAIRO (Capital Markets in Africa) – Dana Gas will not make new investments in Egypt because of delays in obtaining payments owed to it there, the chief executive of the United Arab Emirates company said. Political and economic turbulence in Egypt and Iraqi Kurdistan mean Dana has struggled to secure revenues in either country, once again hitting its profit on Thursday. Dana posted a $7 million net profit in the three months to Dec. 31,…

Somalia’s GDP growth seen slowing to 2.5 pct in 2017 – IMF

Posted on by The Editorial Team

KHARTOUM (Capital Markets in Africa) – Somalia’s economy is expected to slow sharply this year as a drought knocks production in farming, although the impact will be partially offset by a boost from construction and telecommunications, the International Monetary Fund said. In a statement late on Wednesday, the IMF projected the Horn of Africa nation’s gross domestic product would expand 2.5 percent this year down from estimated 3.4 percent in 2016. “The Somali economy is…

Nigerian Bourse Halts 3-Day Downtrend …Benchmark Index up 5bps

Posted on by The Editorial Team

LAGOS (Capital Markets in Africa) – The local bourse bucked bearish trend observed in the last three trading sessions as buy an interest in DANGCEM (+0.7%), GUARANTY (+1.4%), UBA (+0.8%) and ACCESS (+0.8%) drove the benchmark index 5bps northwards to settle at 25,460.45 points. Accordingly, market capitalization improved by N4.8bn to settle at N8.8tn while YTD return steadied at –5.3%. Activity level was mixed as volume surged 67.9% to 347.8m units while value traded waned 10.3% to N1.4m in 2,934 deals. Mixed Sector…

African mining hopes are distant from uncertain reality: Russell

Posted on by The Editorial Team

CAPE TOWN (Capital Markets in Africa) – It should be a match made in heaven. Developing Africa’s vast mineral resources to meet the needs of the resource-hungry economies of China and the rest of Asia. But if there is one message to take away from this week’s Mining Indaba conference in Cape Town, it’s that there remains a large gap between hopes and reality, and that in much of sub-Saharan Africa mining investment remains challenging,…

« 1 … 740 741 742 743 744 … 1,077 »