The Editorial Team |

Egypt’s domestic debt up 24%in FY15/16

CAIRO (Capital Markets in Africa) – Egypt’s domestic debt surged 24% or EGP503.25 billion during the fiscal year 2015/16, according to the monthly bulletin of the Central Bank of Egypt. The country’s general debt amounted to EGP2.619 trillion by the end of June 2016 compared with EGP 2.116 trillion a year earlier. The country’s governmental domestic debt reached EGP 2.29 trillion, while the net debt of the economic entities and National Investment bank amounted to…

Tunisia to offer $50 billion of projects to foreign investors

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TUNIS (Capital Markets in Africa) – Tunisia will offer foreign investors and financiers participation in $50 billion of projects as it seeks to create jobs to maintain political stability, the country’s investment minister said. The projects range from construction of a new deep-water port at Enfidha in northern Tunisia to desalination plants and energy-generating projects. They will be announced at an international investment conference next month. Investors from 70 countries are expected to come to…

Egypt to issue $2 bln in international bonds, roadshow in Nov

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CAIRO (Capital Markets in Africa) – Egypt will issue roughly $2 billion in international bonds, less than previously announced, and will begin a roadshow for the planned offering in the second or third week of November, Finance Minister Amr El Garhy said on Monday. Egypt has been negotiating billions of dollars in aid from various lenders to help revive an economy battered by political upheaval since the 2011 revolt and ease a dollar shortage that…

Guinea inks $770 mln contract with Chinese firm to develop main port

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CONAKRY (Capital Markets in Africa) – China Harbour Engineering Company (CHEC) signed a $770 million contract with Guinea’s government on Monday to upgrade the port in the capital, Conakry, expanding Chinese economic influence in the West African iron and bauxite producer. Under the contact, CHEC, a subsidiary of China Communications Construction Co Ltd, will construct three docks, roads and other infrastructure in the eastern zone of the port, providing parking for up to 600 trucks….

Zimbabwe growth to quicken to 4.8 pct in 2017

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HARARE (Capital Markets in Africa) – Zimbabwe expects economic growth to quicken to 4.8 percent in 2017 from 1.2 percent this year on improved agriculture production and higher global commodity prices, the Treasury said in a budget strategy document. The southern African nation is in the throes of its worst financial crisis since it switched its currency for the U.S. dollar, and its plans to introduce local bank notes next month have helped fuel protests…

South Africa: Nisela Capital Purchases GENREC for $13million

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JOHANNESBURG (Capital Markets in Africa) – Nisela Capital, a private equity and advisory firm based in South Africa, has purchased GENREC Engineering from JSE-listed Murry and Roberts Holdings (an engineering and construction group) for R185 million, (approximately about $13.3 million). Murray & Roberts notes that the transaction with Nisela Capital, is still subject to certain conditions precedent and regulatory approvals. The transaction is not classified as a categorised transaction according to section 9 of the…

Ghanaian microfinance institution attracts investment from Goodwell Investment

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ACCRA (Capital Markets in Africa) – Goodwell Investments, through its fund Goodwell MDC III, has invested in Innovative Microfinance Ltd. (IML), a microfinance institution operating in Northern Ghana. The investment will help IML extend its reach with 5 additional branches in the Northern, the Upper East and the Upper West Regions. IML aims to become the leading microfinance organization supporting micro enterprises in these poor, rural areas, where financial inclusion rates are very low. IML…

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