Finance | - Part 159

Africa’s Biggest Pension Fund Invests $730 Million in Home Loans

South Africa, Capital Markets in Africa: South Africa’s Government Employees Pension Fund, the continent’s largest, invested 10.5 billion rand ($730 million) in mortgage provider SA Home Loans Ltd. to boost government workers’ access to housing. The investment will be done by the Public Investment Corp. on behalf of the GEPF, according to a statement distributed in Johannesburg on Wednesday. Of the funds, 5 billion rand is earmarked for civil servants, 2 billion rand will be allocated to affordable…

Big Oil’s $45 Billion of New Projects Signal Spending Revival

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LAGOS, Nigeria, Capital Markets in Africa: Two projects worth $45 billion announced this month show the world’s largest oil companies are regaining the confidence to make big investments, emboldened by rising crude prices and low costs that promise to trigger more expansion ahead. Chevron Corp. gave the go-ahead to a $37 billion expansion in Kazakhstan, the industry’s biggest undertaking since crude started tumbling two years ago. BP Plc signed off on the $8 billion expansion of…

Angola Said to Discuss $500 Million Loan With Gemcorp

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ANGOLA, Capital Markets in Africa: Gemcorp Capital LLP is negotiating with Angola about providing Africa’s biggest oil producer with a loan of about $500 million even as the IMF said the country called off talks over financial support, according to a person familiar with the matter. Talks are continuing to set up a facility for the Angolan Ministry of Finance to enable it to get dollars for the purchase of medicine and food and an…

Infrastructure | Cameroon, France’s EDF Finalize $1.2 Billion Hydropower Deal

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Cameroon, Capital Markets in Africa: Cameroon’s government and Electricite de France SA concluded a deal to build a 420 MW hydroelectricity plant that will increase the West Africa nation’s power capacity by more than a third. The partners established the Nachtigal Hydropower Company that will oversee the 700 billion CFA francs ($1.2 billion) project during a signing ceremony on Thursday at the site, 65 kilometers (40 miles) south of the capital, Yaounde. EDF will own a 40 percent…

Siemens Targets Building South Africa Gas-Fired Power Plants

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South Africa, Capital Markets in Africa: Siemens AG is interested in bidding to build gas-fired electricity-generating capacity in South Africa as the German engineering company boosts its presence in the country and the government seeks to end power shortages. “Gas can be a complete game-changer for the South African economy,” Siemens South Africa Chief Executive Officer Sabine Dall’Omo, 58, said in an interview in Johannesburg on Wednesday. “Gas is one of our strongholds. International investors are very…

Exxon Said to Join Qatar to Look at Giant Africa Gas Deal

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LAGOS, Nigeria, Capital Markets in Africa: Exxon Mobil Corp. and Qatar Petroleum have teamed up to look at energy assets in Mozambique, home to some of the biggest natural-gas discoveries in a generation, according to four people with knowledge of their plans. The companies are considering buying stakes in gas fields owned by Anadarko Petroleum Corp. and Eni SpA, the people said, asking not to be identified because the matter is confidential. They have a strong relationship and often discuss…

Managing and Mitigating Risk in Mergers and Acquisitions

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LAGOS, Nigeria, Capital Markets in Africa: A fragile global economy, coupled with local market uncertainty, and concerns over the recovery of equity markets followed by a business environment that places increasing pressures on profitability has significantly increased the complexity of deal making today. Corporate governance issues are paramount and regulatory and compliance issues demand that greater caution be exercised in ensuring that proper due diligence is conducted in assessing transactions and their associated risks. Notwithstanding…

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