The Editorial Team |

Egypt eyes $10 bln in foreign investment as it upgrades infrastructure

CAIRO, Capital Markets in Africa: Egypt hopes to attract $10 billion in foreign direct investment (FDI) next year and will automate the process of establishing a company, its investment chief said, highlighting efforts to revive the economy and earn much-needed hard currency. The most populous Arab country has been scrambling to attract the investment needed to restore growth since the 2011 uprising, which ushered in protracted political turmoil and scared away tourists and foreign investors…

Kenya Airways in talks with 3-4 parties on stake sale: CEO

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NAIROBI, Capital Markets in Africa: Kenya Airways is talking to “about three or four” foreign institutional investors and airlines about buying a stake to raise cash for the lossmaking carrier, its chief executive said on Monday. The airline, 27 percent-owned by Air France KLM, has been reducing the size of and modernising its fleet, selling land and cutting jobs to recover from losses caused by a slump in tourism. “We are talking to about three…

Telecom Egypt considers buying more spectrum

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CAIRO, Capital Markets in Africa: Telecom Egypt, the state fixed-line monopoly, said on Monday it was considering buying more spectrum, weeks after acquiring a fourth-generation (4G) licence that will allow it to directly offer mobile phone services for the first time. “Telecom Egypt has presented a request to the National Telecom Regulatory Authority to understand the terms and conditions related to any other spectrum on offer so it can be studied and evaluated,” it said…

Private Equity | Carlyle to buy South Africa’s promotional products supplier

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JOHANNESBURG, Capital Markets in Africa: Private equity firm Carlyle Group LP said it will buy a majority stake in South African promotional products and clothing maker Amrod and plans to expand the business in other markets. The Washington D.C.-based private equity house will fund the investment through its Carlyle Sub-Saharan Africa Fund, while the three founders of Amrod will reinvest alongside Carlyle, the firm said in a statement. Carlyle said it expects the transaction to…

Algeria plans bank privatisations as oil money dries up

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ALGIERS, Capital Markets in Africa: Algeria plans to allow its dominant state banks to list on the local stock exchange to help develop its financial markets and diversify sources of funding after the oil price slide, a senior financial official said. The plan will open the door for foreign investors to acquire controlling stakes in banks, reversing a rule requiring Algerian firms to keep a majority shareholding in any partnership with foreigners, the official told…

Algeria and ENI sign solar plant deal for south – APS agency

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ALGIERS, Capital Markets in Africa: Algerian state energy company Sonatrach has signed a deal with Italian firm ENI for a solar power plant, state news agency APS said on Friday, as the North African state looks to decrease domestic consumption of gas for power and export more. The 10 MW photovoltaic plant to be launched before the end of 2016 in Ouargla in southern Algeria will supply the company’s Bir Rebaa field with electricity, allowing…

Ghana’s Central Bank Urges Lenders Consolidate to Boost Growth

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ACCRA, Capital Markets in Africa: Ghana’s central bank expects mergers and acquisitions among lenders to increase as regulators prepare new rules that will boost the amount of cash that they need to set aside. Capital levels in the industry are too weak to support the government’s target of reaching gross domestic product growth of at least 8 percent a year, Bank of Ghana Governor Abdul Nashiru Issahaku said by phone on Friday. The bank will publish recommendations of…

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