The Editorial Team |

Nigeria’s Skye Extends Decline to Record Low as Diamond Falls

LAGOS, Nigeria, Capital Markets in Africa: Nigeria’s Diamond Bank Plc and Skye Bank Plc slumped for the straight third day after the central bank stepped in to remove Skye’s top management a week ago. Skye Bank plummeted 9.2 percent to 79 kobo, a fresh all-time low by the close of trading, and Diamond Bank slid by 8 percent to 1.85 naira, the lowest since May 19. Skye’s stock has fallen by 25 percent since the July 4 intervention by…

Rising Energy-Import Bill Deepens Tunisia’s Economic Troubles

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TUNIS, Capital Markets in Africa: Social and political unrest in Tunisia is reducing energy production, adding to the economic pressure on the fragile nation that was the only real success story to emerge from the Arab Spring. The North African country’s energy-import bill has risen 45 percent to 5.5 billion dinars ($2.5 billion) since 2010, government data show. Domestic oil production dropped by about a quarter over the same period to 63,000 barrels a day last year, according…

PRIVATE EQUITY AFRICA: GROWING AFRICA’S VENTURES THROUGH SUSTAINABLE INVESTING

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EXCLUSIVE INTERVIEW with Anne Keppler, Vice President, Corporates & Funds Africa Equity & Mezzanine, DEG Regional Office Southern Africa. Anne Keppler’s team is responsible for structuring and managing DEG’s direct equity and fund investment portfolio as well as structuring mezzanine solutions for its private sector clients on the continent. She talks to Capital Markets in Africa about some DEG’s investment and activities on the continent. To start off, could you introduce the DEG to our…

Big Oil’s $45 Billion of New Projects Signal Spending Revival

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LAGOS, Nigeria, Capital Markets in Africa: Two projects worth $45 billion announced this month show the world’s largest oil companies are regaining the confidence to make big investments, emboldened by rising crude prices and low costs that promise to trigger more expansion ahead. Chevron Corp. gave the go-ahead to a $37 billion expansion in Kazakhstan, the industry’s biggest undertaking since crude started tumbling two years ago. BP Plc signed off on the $8 billion expansion of…

Angola Said to Discuss $500 Million Loan With Gemcorp

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ANGOLA, Capital Markets in Africa: Gemcorp Capital LLP is negotiating with Angola about providing Africa’s biggest oil producer with a loan of about $500 million even as the IMF said the country called off talks over financial support, according to a person familiar with the matter. Talks are continuing to set up a facility for the Angolan Ministry of Finance to enable it to get dollars for the purchase of medicine and food and an…

Infrastructure | Cameroon, France’s EDF Finalize $1.2 Billion Hydropower Deal

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Cameroon, Capital Markets in Africa: Cameroon’s government and Electricite de France SA concluded a deal to build a 420 MW hydroelectricity plant that will increase the West Africa nation’s power capacity by more than a third. The partners established the Nachtigal Hydropower Company that will oversee the 700 billion CFA francs ($1.2 billion) project during a signing ceremony on Thursday at the site, 65 kilometers (40 miles) south of the capital, Yaounde. EDF will own a 40 percent…

Skye Bank Extends Drop After Management Ousting as Diamond Falls

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NIGERIA, Capital Markets in Africa: Skye Bank Plc tumbled, extending a slide to the lowest level in almost three months, after Nigerian regulators replaced the top management of the country’s eighth-largest bank for consistently breaching cash and liquidity ratios. Diamond Bank Plc fell the most since Jan. 19 even as shares of some the country’s banks rose on the Nigerian Stock Exchange All Share Index on Friday. Gains by FBN Holdings Ltd., the country’s largest lender by assets, Zenith Bank Plc and…

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