The Editorial Team |

Nigeria Central Bank set limits on banks’ investment in govt Islamic bonds

LAGOS ((Capital Markets in Africa)) – Nigeria’s central bank has set commercial banks’ investment in Islamic bonds issued by state governments to 10 percent of the total amount on offer and fixed a maximum tenor of 10 years for the bonds, it said in a circular. The central bank said it considered the need to issue the guidelines to enhance the quality of sukuk instruments and to grant liquidity status at its discount window as well…

Tanzania secures $259 mln funding for power grid link with Kenya

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DAR ES SALAAM (Capital Markets in Africa) – Tanzania has secured $258.82 million from the African Development Bank and the Japan International Cooperation Agency for a high voltage electricity line to connect its national power grid to Kenya’s, its power utility said on Sunday. The 400 kilovolt (kV) line will be completed within two years and is part of efforts to deepen integration between the two countries’ economies, Tanzania’s TANESCO said in a statement on its…

Ethiopian protesters attack factories in Africa’s rising economic star

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ADDIS ABABA (Capital Markets in Africa) – Protesters in Ethiopia damaged almost a dozen mostly foreign-owned factories and flower farms and destroyed scores of vehicles this week, adding economic casualties to a rising death toll in a wave of unrest over land grabs and rights. The violence has cast a shadow over a nation where a state-led industrial drive has created one of Africa’s fastest growing economies, but where the government has also faced rising international…

Kenya to sell 15-yr infrastructure bond from October 2016

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NAIROBI (Capital Markets in Africa) – Kenya will sell a 15-year infrastructure bond to raise up to 30 billion shillings ($296 million) this month to fund road, water and energy projects, the central bank said on Sunday. The bank said that the bond will have a 12 percent coupon. It will take bids until Oct. 18 and auction the paper on Oct. 19.

Cautious Optimism for Investors in Sub-Saharan Africa Hotel Sector

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KIGALI (Capital Markets in Africa) – Investor sentiment for hotels in Sub-Saharan Africa remains positive despite economic headwinds in key markets, according to the latest JLL research (http://APO.af/4zhrDO) into the sector. The long-term outlook continues to be strong and is driven by positive economic, demographic and tourism trends, with all indicators pointing to continued hotel demand growth as the region’s economy and hotel sector continue to mature. Speaking at the Africa Hotel Investment Forum in Kigali,…

Marriott International Rapidly Expands its Footprint across Africa

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KIGALI (Capital Markets in Africa) – Marriott International continues its robust expansion across the African continent with news of brand-new signings of new properties in Cape Town, Nairobi, Cairo, and Mauritius. This announcement comes hot on the heels of Marriott’s recently completed acquisition of Starwood Hotels and Resorts, which has created the world’s largest hospitality. The transaction has increased Marriott’s distribution in Africa, thus affirming the company’s number one position across the continent. “The past…

The Development Bank of Southern Africa (DBSA) announces Financing of 21 Renewable Energy Projects

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JOHANNESBURG (Capital Markets in Africa) – The Development Bank of Southern Africa (DBSA) has financed 21 renewable energy projects since the launch of the Renewable Energy Independent Power Producer Procurement Programme (REIPP). This was revealed today at the annual SA Gas Options conference in Cape Town and follows the announcement of South Africa’s Gas to Power Project Information Memorandum (PIM). Ms Lucy Chege, General Manager for Energy Financing at the DBSA, said “The DBSA’s achievements in the…

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