Features

LAGOS (Capital Markets in Africa)  – Seplat Petroleum Development Co. and Nigeria’s state oil company will raise $700 million for a joint gas project scheduled to start production next year as the government steps up plans to reduce the country’s reliance on oil. The project, known as Assa North-Ohaji South, is one of seven to boost gas production and infrastructure development in the West African nation, the continent’s biggest producer of crude. ANOH Gas Processing Co., which…

KHARTOUM (Capital Markets in Africa) – Sudan began its first full day in 30 years without Omar al-Bashir in charge, as protesters in the North African nation vowed to keep up the pressure on the military that deposed him to make way for a civilian government. Demonstrators maintained an overnight sit-in outside army headquarters in the capital, Khartoum, in spite of a 10 p.m.-4 a.m. curfew imposed when the military seized power. Defense Minister Ahmed Awad Ibn…

NAIROBI (Capital Markets in Africa) – Kenya Airports Authority expects its land holdings to be worth more than 1 trillion shillings ($9.9 billion) after a revaluation is concluded in a month, Chief Executive Officer Jonny Andersen said. “Since we’ll have a different balance sheet, we can go to the banks and ask for completely different financing because we’ll have so much value,” Andersen said in an interview in the Kenyan capital, Nairobi. “It will completely…

JOHANNESBURG (Capital Markets in Africa) –  Steinhoff International Holdings NV pushed back the dates for the publication of audited earnings for 2017 and 2018 after the findings of a forensic probe by PwC made the process more time consuming and complex. The South African retailer, which almost collapsed amid an accounting scandal in late 2017, is working toward ensuring that all appropriate adjustments are made to valuations and profitability at various subsidiaries, the company said in…