Finance | - Part 107

Zimbabwe to Consider Waivers on Platinum, Diamonds Ownership Law

HARARE (Capital Markets in Africa ) -Zimbabwe will consider applications from companies mining platinum or diamonds to be exempted from a requirement that they be at least 51 percent owned by black citizens of the country. The government wants companies to show they have a plan to achieve compliance before it will consider granting waivers, Mines Minister Winston Chitando said in an interview in Cape Town Wednesday. “Companies should come up with proposals which suit their different…

MTN Is Said to Plan $500 Million Nigeria Share Sale in 2018

Posted on by The Editorial Team

LAGOS (Capital Markets in Africa) – MTN Group Ltd. plans to raise about $500 million from the sale of shares in its Nigerian business during the first half of the year, fulfilling the terms of a deal struck with the West African nation to settle a record fine, according to people familiar with the matter. Standard Bank Group Ltd. and Citigroup Inc. have been advising Africa’s largest mobile-phone company on the disposal of as much as…

Nigeria Hires Citi, StanChart, Stanbic for $2.5 Billion Eurobond

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LAGOS (Capital Markets in Africa) – Nigeria hired Citigroup Inc., Standard Chartered Plc and Stanbic IBTC Holdings Plc to help it sell $2.5 billion of Eurobonds, possibly in the first quarter. “The minister confirmed this at the Federal Executive Council briefing on Wednesday,” Oluyinka Akintunde, media adviser for Finance Minister Kemi Adeosun, said by text message on Thursday. The government rehired the group of lenders who managed its Eurobond sales late last year. Proceeds from the issuance will be used to refinance…

Kenya Is Said to Pick Citi, JPMorgan to Advise on Eurobond Sale

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NAIROBI (Capital Markets in Africa) – Kenya mandated four banks including Citigroup Inc. and JPMorgan Chase & Co. to manage a sale of Eurobonds planned within the next two months, according to four people familiar with the plan. The ministry also chose Standard Chartered Bank Plc and Standard Bank Group’s Kenyan unit Stanbic Holdings to help with the sale, said the people, who asked not to be identified because the appointment hasn’t been made public…

Egyptian Billionaire’s Bank Seeks Acquisitions to Bolster Growth

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CAIRO (Capital Markets in Africa) – Beltone Financial Holding SAE, the Egyptian investment bank owned by billionaire Naguib Sawiris, is planning financial acquisitions to diversify the products it offers in frontier and emerging markets. “Beltone is in a very big growth mode,” Chief Executive Officer Bassem Azab said in an interview in Cairo. “We spent the past two years establishing and re-positioning ourselves in investment banking, asset management and brokerage. Now that we have our pillars reinforced on…

Anglo Takes Down South Africa Sale Sign and May Even Buy

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JOHANNESBURG (Capital Markets in Africa) – Anglo American Plc raised the possibility that it could start buying assets in South Africa, the latest sign of how much has changed in two years, when the miner was focused on selling. “We no longer have any for sale sign,” Norman Mbazima, deputy chairman of Anglo American’s South African unit, said in an interview Monday. “It is possible to invest in South Africa. We have got hope right now.”…

Mining Companies Are Suddenly Positive on South Africa Again

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JOHANNESBBURG (Capital Markets in Africa) – Cyril Ramaphosa isn’t even president yet and mining companies are already changing their tune on South Africa. A former mine union leader and now one of the wealthiest black South Africans, the new leader of the ruling African National Congress is seen as more willing to negotiate investor-friendly policy, according to executives attending the African Mining Indaba conference in Cape Town this week. That’s partly after he told reporters in…

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