Finance | - Part 147

Tunisia to offer $50 billion of projects to foreign investors

TUNIS (Capital Markets in Africa) – Tunisia will offer foreign investors and financiers participation in $50 billion of projects as it seeks to create jobs to maintain political stability, the country’s investment minister said. The projects range from construction of a new deep-water port at Enfidha in northern Tunisia to desalination plants and energy-generating projects. They will be announced at an international investment conference next month. Investors from 70 countries are expected to come to…

Egypt to issue $2 bln in international bonds, roadshow in Nov

Posted on by The Editorial Team

CAIRO (Capital Markets in Africa) – Egypt will issue roughly $2 billion in international bonds, less than previously announced, and will begin a roadshow for the planned offering in the second or third week of November, Finance Minister Amr El Garhy said on Monday. Egypt has been negotiating billions of dollars in aid from various lenders to help revive an economy battered by political upheaval since the 2011 revolt and ease a dollar shortage that…

Guinea inks $770 mln contract with Chinese firm to develop main port

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CONAKRY (Capital Markets in Africa) – China Harbour Engineering Company (CHEC) signed a $770 million contract with Guinea’s government on Monday to upgrade the port in the capital, Conakry, expanding Chinese economic influence in the West African iron and bauxite producer. Under the contact, CHEC, a subsidiary of China Communications Construction Co Ltd, will construct three docks, roads and other infrastructure in the eastern zone of the port, providing parking for up to 600 trucks….

Nigeria needs more time to negotiate rail project with GE

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ABUJA (Capital Markets in Africa) – Nigeria needs more time to negotiate a railway concession project with U.S. company General Electric, the country’s transport minister said on Wednesday. Both sides have confirmed talks on GE being granted a railway concession in Nigeria worth around $2 billion but no details have emerged yet. “GE is proposing a two-year rehabilitation of the rail tracks to be carried out by them and to have a concession period of 25…

Gabon: ICD and DCF of Gabon sign an MoU

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ABIDJAN (Capital Markets in Africa) – Mr. Khaled Al-Aboodi, the CEO of the Islamic Corporation for the Development of the Private Sector (ICD), a member of Islamic Development Bank Group, and Mr. Alain Ditona Moussavou CEO of Deposit and Consignments Fund (DCF), signed a Memorandum of Understanding (MoU) to launch an investment fund to support the financing of SMEs in Gabon and Central Africa. The two institutions are determined to bring a solution to the…

African Trade Insurance Agency (ATI) officially open for business in Ethiopia and Zimbabwe

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NAIROBI, Kenya, October 19, 2016/ — At a press conference, the CEO of the African Trade Insurance Agency (ATI), George Otieno, along with H.E. Dina Mufti, the Ethiopian Ambassador and Gabriel Negatu, Regional Director, African Development Bank announced today that it is ready to begin covering transactions in Ethiopia and Zimbabwe. After a year-long process that was supported with funds from the African Development Bank, both countries are now members. The announcement will give investors…

Orange Egypt signs 4G licence deal worth $484 mln

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CAIRO (Capital Markets in Africa) – Orange Egypt signed a licence deal on Thursday, paying $484 million to operate fourth-generation mobile phone services in the country of 90 million after the government agreed to offer it additional spectrum. Egypt is selling four 4G licences as part of a long-awaited plan to reform the telecoms sector and to raise money for stretched government finances. The country’s three existing mobile phone operators – Orange, Vodafone and Etisalat –…

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