Finance | - Part 126

Tanzania Invites Tenders for Africa’s Fourth-Biggest Hydro Plant

DAR ES SALAM (Capital Markets in Africa) – Tanzania invited bids for the construction of a $2 billion hydro-power plant that will rank as the fourth-biggest in Africa. The proposed Stiegler’s Gorge Project will be built on the Rufiji River in eastern Tanzania with a minimum capacity of 2,100 megawatts, the Energy Ministry said in tender documents emailed from the commercial capital, Dar es Salaam, on Wednesday. Bids must be submitted by Oct. 16 and the facility…

Short-term Personal Loan and its Features

Posted on by The Editorial Team

JOHANNESBURG (Capital Markets in Africa) – Among the different types of loans that are, today, available in the market, the personal loan is one of the most popular ones. This kind of loan is borrowed for a short time-period and repaid in full along with the interest. Installments are also available for repayment of personal loans that continue on a per month basis until the whole loan amount is paid off at the pre-decided rate…

Sasol Tempers Return Expectations for $11 Billion Project

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JOHANNESBURG (Capital Markets in Africa) – Sasol Ltd. lowered estimated returns at its $11 billion Lake Charles chemicals project in the U.S. and said it’s disputing a revised tax bill in South Africa. Sasol, the world’s biggest producer of liquid fuel from coal, projects an internal rate of return of 7 percent to 8 percent at Lake Charles, which will convert ethane into plastics and other products. The range is based on “conservative” ethane prices and…

Egypt Weighs $4 Billion Eurobond Sale in January, Official Says

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CAIRO (Capital Markets in Africa) – Egypt plans to return to the international debt markets in January to raise as much as $4 billion to fund the budget deficit, a Finance Ministry official said. The ministry may approach investment banks to select advisers for the possible sale within three months, the official told Bloomberg on condition of anonymity because the plans have yet to be finalized. The amount and the timing would depend on market…

Nigeria Seeks to Diversify From Oil With $41 Billion of Rail

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LAGOS (Capital Markets in Africa) – Nigeria has started a $41 billion railway expansion to reduce dependence on oil and diversify its struggling economy by improving transport links to allow the movement of goods around the country and to ports. “The plan we have now will go to every nook and corner,” Transport MinisterRotimi Amaechi, 52, said in an interview in the capital, Abuja. Africa’s biggest oil producer is going through its worst economic slump in…

Standard Bank Seeks to Raise $3 Billion for Ugandan Oil Pipeline

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KAMPALA (Capital Markets in Africa) – Standard Bank Group Ltd.’s Ugandan unit plans to raise $3 billion for a crude pipeline by the second half of next year as the East African country prepares to start oil production by 2020. Stanbic Bank Uganda was appointed alongside Japan’s Sumitomo Mitsui Banking Corp. as joint financial adviser for the 1,445-kilometer (898-mile) pipeline, Patrick Mweheire, the chief executive officer of the Kampala, Uganda-based business, said in an interview on…

Nigeria to Sell Up to $3 Billion Eurobonds to Replace Bills

Posted on by The Editorial Team

LAGOS (Capital Markets in Africa) – Nigeria plans to sell as much as $3 billion of foreign-currency bonds to replace naira debt, according to its finance minister. The government will issue the dollar securities once the National Assembly approves the sale, Kemi Adeosun told reporters Wednesday in Abuja, the capital. They will have three-year maturities and be used to refinance treasury bills as they mature, she said. “We will borrow less in naira and more in foreign…

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