Finance | - Part 175

IFC to Invest US$35 mill in Africell to expand Telecoms in Africa

Kinshasa, DRC (Capital Markets in Africa) — International Finance Corporation (IFC), a member of the World Bank Group, today announced that it will invest $35 million in telecom operator, Africell, to support the expansion and upgrade of mobile networks in Gambia, the DRC, Sierra Leone and Uganda. Africell is an emerging telecommunications operator, with a customer base in some of Africa’s most challenging markets. Since its launch in 2001, Africell has become the leading mobile…

Rwanda targets $1.2 bln foreign investment in 2015

Posted on by The Editorial Team

Kigali, Rwanda (Capital Markets in Africa) – Rwanda aims to increase foreign direct investment in 2015 to $1.2 billion, a fourfold jump from two years ago, helped by a new investment code that offers tax breaks and other incentives, a senior official said on Thursday. World Bank rankings show Rwanda is one of the easiest places to do business in Africa, after Mauritius and South Africa, but the country has struggled to meet past investment…

Kenya: Gulf Petrochem Group acquire Essar Petroleum East Africa

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NAIROBI, Kenya (Capital Markets in Africa) — Gulf Petrochem Group today announced the official acquisition and name change of Essar Petroleum East Africa Ltd to ASPAM Energy (Kenya) Ltd. The deal will enhance the group’s integrated services and products for the downstream supply chain in the oil and gas sector in East Africa. Gulf Petrochem Group secured the due approvals from the Energy Regulatory Commission (ERC), the Competition Commission and other regulatory bodies. ASPAM Energy (Kenya) will…

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

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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

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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…

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