Finance | - Part 174

Nigeria: Helios and Vitol acquire equity stake in Oando’s downstream businesses

LAGOS, Nigeria (Capitla Markets in Africa) — A consortium comprising Helios Investment Partners (“Helios”, acting on behalf of funds it advises) and The Vitol Group (“Vitol”) (together, the “Consortium”) today announced it has reached an agreement to acquire 60 per cent of the economic rights and 51 per cent of the voting rights in the West African downstream business of Oando Plc, an integrated oil and gas company headquartered in Nigeria, for a sum of…

Zambia’s capital city to receive US $50 million for sustainable urban sanitation

Posted on by The Editorial Team

Lusaka, Zambia (Capital Markets in Africa) —- The Board of Directors of the African Development Bank (AfDB) Group on June 24, 2015 approved a loan of US $50 million to finance the Lusaka Sanitation Program targeted at Lusaka, the capital city of Zambia. The Executive Directors, in approving the loan, expressed their satisfaction with the innovative approach in addressing the challenges of sanitation particularly among the poor in informal settlements. They urged the African Development…

AfDB approves €50.20 million loan for Egypt National Drainage to boost agriculture

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Cairo, Egypt (Capital Markets in Africa) — The African Development Bank (AfDB) will support Egypt’s National Drainage programme (NDP) to boost agricultural production and household income generation with a €50.20 million loan approved by AfDB Board on Wednesday, May 17 in Abidjan. The programme aims to optimize the benefits of irrigation by draining excess irrigation water from agricultural land in order to reduce water logging and soil salinity as well as make more land available…

PwC Survey: Optimism and opportunities abound in Africa’s Infrastructure space

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Lagos, Nigeria (Capital Markets in Africa) — Dealing with Africa’s infrastructure backlog and its future demand is high on the agenda of leaders and civil society on the continent and abroad. While the continents infrastructure currently lags well behind that of the rest of the world with some 30% in a dilapidated condition, there is widespread recognition that there are vast business opportunities on the continent as a growing consumer market continues to develop as well as a large number…

World Bank Group Approves $500 Million For Eastern Africa Development Corridor

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Nairobi, Kenya (Capital Market in Africa) —The World Bank Group has approved $500 million for the development of the transport and trade corridor in north-western Kenya and improve the livelihoods of the communities in Turkana and West Pokot counties. The World Bank Board of Executive Directors today approved the International Development Association (IDA)* credit for the East Africa Regional Transport, Trade and Development Facilitation Project, which will enhance regional competitiveness by improving the movement of goods and…

FDI value jumps despite falling number of investment projects in Africa

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Johannesburg, South-Africa (Capital Markets in Africa) — According to EY’s 2015 Africa attractiveness survey – Making choices, Africa’s share of foreign direct investment (FDI) projects fell 8.4% in 2014, but remained well above pre-2008 levels. However, foreign direct capital investment into the continent surged to US$128b, up 136% in 2014 – a five-year high, with the number of jobs created from FDI jumping 68% resulting in 188,400 new positions across Africa. The report combines an analysis…

Barclays eyes Kenyan asset management after insurance deal

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Nairobi, Kenya (Capital Markets in Africa) – Barclays Africa Group plans to move into the asset management business in Kenya this year after reaching a deal on Wednesday to buy a majority stake in insurer Kenya First Assurance Ltd for 2.8 billion shillings ($28.84 million). Barclays’ deal to buy a 63.3 percent in the Kenyan insurance company is part of a plan to boost revenue from its African operations outside of South Africa. Barclays Africa…

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