Finance | - Part 156

INFRASTRUCTURE FINANCE IN AFRICA: A LEGAL VIEWPOINT

LAGOS, Nigeria, Capital Markets in Africa: The key to unlocking Africa’s growth potential The continued downturn in global commodities prices has, according to the World Bank’s Africa’s Pulse April 2016 report, reduced Sub-Saharan Africa’s economic growth to 3% in 2015 from 4.5% in 2014. Despite this fall, Africa’s economic growth of 3% for 2015 is higher than the global average growth rate. It is undeniable that developing the continent’s road, rail, power and urban infrastructure…

Egypt Expects Arab Allies to Provide Aid as Part of IMF Deal

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CAIRO, Egypt, Capital Markets in Africa: Egypt expects its oil-rich allies such as Saudi Arabia and the United Arab Emirates to provide funding as the country moves to finalize a $12 billion loan program with the International Monetary Fund, Prime Minister Sherif Ismail said. International financial institutions will also help finance the government’s three-year program with the Washington-based lender, Ismail told Bloomberg News in Cairo on Wednesday. The IMF’s Executive Board will not consider the loan deal before…

Nigeria Seeks $7 Billion to Kick-Start Mines, Steel Industry

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Lagos, Nigeria, Capital Markets in Africa: Nigeria is looking for investments of $7 billion in mining and steel over the next decade as it seeks to develop gold and iron ore extraction industries to diversify its oil-dependent economy. One of the government’s priorities is to meet its annual steel demand of 6.8 million metric tons, from a current output of a third of that, produced mainly from scrap iron, Solid Minerals Development Minister Kayode Fayemi said. “About…

Trade | Ivory Coast Will Ratify Interim Trade Deal With EU This Month

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Abidjan, Ivory Coast, Capital Markets in Africa: Ivory Coast plans to ratify an interim economic trade pact with the European Union by the end of the month even though a regional deal, approved in 2014, has yet to be signed by all the countries of the West African economic bloc, a minister said. An Ivorian parliamentary foreign affairs committee unanimously voted on Wednesday to allow President Alassane Ouattara to ratify the agreement, which will reduce trade barriers…

Impacting Investing: An Innovative tools to drive Infrastructure in Africa

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LAGOS, Nigeria, Capital Markets in Africa: Africa’s infrastructure gap It is a well-documented fact that there exists a significant infrastructure deficit in Africa1 to support the continent’s expanding economies, rapid urbanisation, and surging trade levels. While total spending in infrastructure is growing at a rapid pace globally, Africa’s share continues to remain stagnant. As a result, economic growth in many African countries is constrained by poor infrastructure, particularly in energy and roads3 . In addition,…

Delivering Successful Infrastructure Projects through Public Private Partnerships

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LAGOS, Nigeria, Capital Markets in Africa: What are the challenges in implementing successful and sustainable infrastructure projects in Africa? Why do projects take so long to become a reality? Surely one of the biggest challenges for Government Authorities is the organization and administration of a framework that will reduce bottlenecks and facilitate project promoters to address risks appropriately, such that projects can proceed. Over the past ten years, more African countries have recognized the advantages…

Infrastructure | South Sudan Seeks $1.9 Billion Chinese Loan as Inflation Rockets

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South Sudan, Capital Markets in Africa: it’s seeking a $1.9 billion loan from China to develop its oilfields and roads, as the war-torn African country battles inflation that exceeded 660 percent last month. Foreign Minister Deng Alor Kuol requested the financial assistance during arecent visit to the Asian nation and the Export-Import Bank of China “is working on this loan,” ministry spokesman Mawien Makol Arik said Tuesday by phone from the capital, Juba. South Sudan has sub-Saharan Africa’s…

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