Finance | - Part 164

Investment | Ascendis to Buy Remedica, Scitec for as Much as $566 Million

Johannesburg, South Africa, Capital Markets in Africa: Ascendis Health Limited entered agreements to buy separate pharmaceutical and sports-nutrition companies for a total of as much as 505 million euros ($566 million), and will pay for the purchases through debt facilities and a potential share sale. The company will pay 260 million euros to 335 million euros for Cyprus-based pharmaceutical company Remedica Holdings Limited and about 170 million euros for Scitec International Sarl, Johannesburg-based Ascendis said in…

Investment | SN Power AS Invests in the Bujagali Hydropower, Uganda

Posted on by The Editorial Team

JOHANNESBURG – Allen & Overy LLP announced today that it has advised SN Power AS, the state-owned Norwegian company and one of the world’s leading international hydropower firms, on its acquisition of an interest in the Bujagali hydropower project (“Bujagali”) in Uganda from SG Bujagali Holdings, Ltd (“SGBH”). Bujagali is a 250 MW hydropower facility located near Jinja, Uganda. It has been financed and developed by Bujagali Energy Limited, an entity owned by affiliates of…

MTN Raises South Africa Investment to $757 Million for Deals

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Johannesburg, South Africa, Capital Markets in Africa: MTN Group Limited raised its South Africa investment target by 50 percent as the continent’s biggest wireless operator by sales looks to boost its data-services offering with acquisitions and network upgrades in its home market. Capital expenditure will be about 12 billion rand ($757 million) in the country in 2016, MTN’s South Africa head Mteto Nyati told reporters in Johannesburg on Thursday. That compares with an 8 billion rand target…

Investment | Orange Targets Expanding Nigerian Companies Adopting More IT

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LAGOS. Nigeria, Capital Markets in Africa: Orange SA’s business-services unit has opened its first sales office in Nigeria as local companies seek to expand outside their domestic market and cut technology costs amid an economic slowdown fueled by the fall in crude-oil prices. Orange Business Services is aiming for annual double-digit sales growth from its office in Lagos, Nigeria’s commercial capital, Giorgio Heiman, vice president in charge of Africa, told reporters in the city on Tuesday….

Investment | Ivory Coast Attracts $15.4 Billion in Pledges, Twice Its Budget

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Abidjan, Ivory Coast, Capital Markets in Africa: Ivory Coast received more than $15 billion in pledges from donors and lenders to fund its five-year development plan, almost double the amount it sought at a Paris meeting that showcased the world’s top cocoa grower as an investors’ favorite in Africa. The West African nation wanted to secure at least 4,425 billion CFA francs ($8.8 billion) in pledges to fund part of a $60 billion investment plan…

“Price Modulation” of the Downstream Sector …Taking the Bull by the Legs

Posted on by The Editorial Team

LAGOS, Nigeria, Capital Markets in Africa: The downstream petroleum sector on 11th May, 2016 received a major policy turn that seemed to have altered the age long dynamics of the industry as the Nigerian National Petroleum Corporation (NNPC) announced the removal of petroleum subsidy and provided new pricing guidelines, designed to be cost reflective in line with market dynamics. Whilst the new policy has shifted off the Government, a major burden of subsidy payment which…

Investment | Nedbank Group Hunting for Kenyan Acquisition as Parent Mulls Exit Plan

Posted on by The Editorial Team

Johannesburg, South Africa, Capital Markets in Africa: Nedbank Group Limited, the South African lender being spun off from parent Old Mutual Plc, said it’s in talks that may lead to the acquisition of a Kenyan bank as it seeks to benefit from an economic growth rate that’s double the average for the rest of the continent. “Within the next 12 months we’ll certainly be looking to do a deal,” Mfundo Nkuhlu, chief operating officer of Johannesburg-based Nedbank,…

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