Finance | - Part 170

Africa Oil announces farm-out deal with Maersk Oil for Kenya and Ethiopia blocks ….

Nairobi, Kenya, Capital Markets in Africa — Africa Oil Corp. (“Africa Oil” or the “Company”) is pleased to announce that it has entered into a definitive farm-out agreement with Maersk Oil & Gas A/S, a Danish oil and gas company owned by the Maersk Group (“Maersk”) whereby Maersk will acquire 50% of Africa Oil’s interests in Blocks 10BB, 13T and 10BA in Kenya and the Rift Basin and South Omo Blocks in Ethiopia in consideration…

Ease of Doing Business: Mauritius is the African champ, Eritrea worst globally …

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Lagos, Nigeria, Capital Markets in Africa — The Doing Business 2016: Measuring Regulatory Quality and Efficiency, a World Bank Group flagship publication, was released on 27th October 2016. Singapore remained the world’s easiest place to do business for the ninth year in a row the World Bank said in its report that ranks 189 countries based on 10 criteria tied to the business climate, such as ease of opening a business, paying taxes or getting…

Forte Oil Nigeria Sales 17% Stake to Mercuria For US$200 Million

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Lagos, Nigeria, Capital Markets in Africa —- One of Nigeria’s integrated energy solution providers, Forte Oil Plc, confirmed the acquisition of 17 percent of its equity by Mercuria Energy Holdings SA for $200 million. With the foreign direct investment in Forte Oil, the world’s third largest independent energy trader and asset operator has made inroads into the West African energy sector. Forte Oil said in a press release that through this investment, it had…

Ghana Airports Company boosts by AfDB’s US$120-million corporate loan

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Accra, Ghana, Capital Markets in Africa — On September 30, 2015, the Board of Directors of the African Development Bank (AfDB) approved a US$120 million corporate loan to support Ghana Airports Company Limited’s (GACL) capital investment programme. The programme entails the construction of a new terminal at Kotoka International Airport (KIA) in Accra, and rehabilitation of other airports managed by GACL including Kumasi, Tamale, Ho and Wa Airports. The loan is the first private-sector investment…

AfDB approves US $141.71million for the Dar es Salaam Bus Rapid Transit System Project

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Dar es Salaam, Tanzania, Capital Markets in Africa — The Board of Directors of the African Development Bank Group approved on Wednesday, September 30, 2015, two loans totaling US $141.71 million to finance the second phase of the Dar es Salaam Bus Rapid Transit (BRT) System Project. The US $97.42-million loan from the AfDB market window and the US $44.29-million loan from the Africa Growing Together Fund (AGTF)* will support Tanzania Government’s efforts to decongest…

The AfDB injects US$14.4 million to boost industrial competitiveness in Côte d’Ivoire

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Abidjan Cote D’Ivoire, Capital Markets in Africa — The African Development Bank (AfDB) formally approved a grant of 8.226 billion CFA francs (approximately US $14.4 million) to Côte d’Ivoire from the African Development Fund (ADF) to fund the Support to Industrial Competitiveness Enhancement Project (PARCSI). This project forms part of a broader AfDB assistance package to support implementation of the country’s restructuring programme, which includes efforts to modernise businesses and update Côte d’Ivoire’s export strategy….

Islamic Finance in Africa: A Promising Future — ICD

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JEDDAH, Kingdom of Saudi Arabia, Capital Markets in Africa — A newly-released report “Islamic Finance in Africa: A Promising Future” by the Islamic Corporation for the Development of the Private Sector (ICD) takes an in-depth look at the tremendous growth opportunities for Islamic finance to flourish in the region. The new report was released during the Africa Islamic Finance Forum 2015 in Abidjan. The report is being published as the global banking community comes together…

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