Finance | - Part 144

AfDB invests $20 million in Sudan’s water and sanitation project

SUDAN (Capital Markets in Africa) – In collaboration with the UK Department of International Development (DfID), the African Development Bank (AfDB) concluded a project identification mission to Port Sudan on December 13, 2016. The mission sought to hold discussions with authorities and stakeholders on the possibility for the AfDB to finance the Port Sudan Priority Water and Sanitation (PSPWS) project as part of its joint efforts with DfID to address Port Sudan’s short-, medium- and…

South Africa’s Eskom May Seek Nuclear-Plant Proposals This Week

Posted on by The Editorial Team

JOHANNESBURG (Capital Markers in Africa) – Eskom SOC Holdings Ltd., South Africa’s state-owned power utility, may ask developers for proposals to build as much as 9,600 megawatts of nuclear-powered electricity plants this week. Most of the documentation is complete and Eskom is waiting for the Department of Energy to formalize the company’s role as the procurer for the country’s nuclear energy program, spokesman Khulu Phasiwe said by phone Tuesday. The expected timing of the request for proposals,…

Ethiopia’s Foreign Investment Stalls After Attacks on Businesses

Posted on by The Editorial Team

Addis Ababa (Capital Markets in Africa) – Foreign investment in Ethiopia is stalling after a series of demonstrations against international companies. Investment was about $500 million in the three months ended Oct. 10 compared with the same period a year earlier, according to Investment Commissioner Fitsum Arega. Foreign investment had gained 20 percent a year on average for the past six years, including a 50 percent jump last year, he said by phone from Addis…

Opportunities in Africa’s M&A Amidst Current Uncertainty

Posted on by The Editorial Team

JOHANNESBURG (Capital Markets in Africa) – In spite of the current challenges facing the M&A landscape in Africa, there are pockets of opportunity as businesses review their strategies in response to changing global realities. The inability to confidently interpret information in Africa is fuelling uncertainty in the continent’s corporate transaction landscape. While this has lent an element of uncertainty to businesses considering African acquisitions, for those able to read the signs, Africa’s fundamentals remain positive…

Tanzania Says It May Draw $9.2 Billion in Cement Investment

Posted on by The Editorial Team

DAR ES SALAM (Capital Markets in Africa) – Three companies plan to invest as much as 20 trillion shillings ($9.2 billion) in Tanzanian cement production in projects that could double the nation’s installed capacity, Trade and Industry Minister Charles Mwijage said. The government of East Africa’s second-biggest economy, with gross domestic product of $45 billion, has infrastructure projects planned, including the $10 billion Bagamoyo port development, a $7-billion railway and a $4-billion crude oil pipeline from neighboring…

Egypt signs 3-yr 18 bln yuan bilateral currency swap with China

Posted on by The Editorial Team

CAIRO (Capital Markets in Africa) – China and Egypt on Tuesday concluded an 18 billion yuan ($2.62 billion) three-year bilateral currency swap, a move that importers and economists said would facilitate trade and improve foreign currency liquidity in cash-strapped Egypt. Egypt’s central bank, which signed the deal with the People’s Bank of China, said the arrangement could be extended by mutual consent. “This bilateral currency swap is a mutually beneficial arrangement between both countries,” it…

Nigeria Export Agency Sees Roads, Rail Routes to Growth Recovery

Posted on by The Editorial Team

LAGOS (Capital Markets in Africa) – Nigeria’s push to end its economic contraction requires expanding the country’s road and rail networks for an export-led recovery that would ease a reliance on oil, head of the West African nation’s export agency said. “It’s important we build roads that lead to markets,” Segun Awolowo, chief executive officer of the Nigerian Export Promotion Council, said in an interview in the capital, Abuja. “The rail needs to move goods…

« 1 … 142 143 144 145 146 … 187 »