Finance | - Part 180

Angola’s sovereign fund allocates further $1.4 billion to Africa projects

LONDON (Reuters) – Angola’s sovereign wealth fund said on Monday it was allocating $1.4 billion to five new vehicles that will invest in sectors such as mining, timber, agriculture and healthcare within the country and elsewhere in Africa. The Fundo Soberano de Angola (FSDEA) said vehicles focused on mining, timber and agriculture will each have $250 million to invest, while a healthcare fund will have $400 million. A fifth Mezzanine Investment fund is being set…

Tunisia: AfDB grants €49.4 million loan to enhance natural gas supply to disadvantaged regions

Posted on by The Editorial Team

Tunis, Tunisia (Capital Markets in Africa) — The Board of Directors of the African Development Bank (AfDB) Group approved on Wednesday, April 1, 2015 in Abidjan, a €49.4-million loan to the Tunisian Electricity and Gas Corporation, la Société tunisienne d’électricité et du gaz (STEG). The project for the development of natural gas transportation and distribution to the western part of the country is aimed at improving the supply of cheaper and less-polluting energy to the…

Nigeria’s Wema Bank raising $100 mln Tier II capital to grow loans

Posted on by The Editorial Team

LAGOS (Reuters) – Nigeria’s Wema Bank aims to complete a $100 million Tier II capital raising exercise by the second quarter of this year to fund its growing foreign currency loan portfolio, its chief financial officer said on Thursday. Tunde Mabawonku said the commercial lender also planned to start the process of raising fresh equity capital of between 30 billion naira ($151 million) to 40 billion naira, from strategic investors by the fourth quarter. Mabawonku…

National Bank of Canada Buys an Equity Stake in the African Financial Group NSIA

Posted on by The Editorial Team

National Bank of Canada (“National Bank”) today announced that it is purchasing a stake in NSIA Participations (“NSIA”), a financial group headquartered in Abidjan, Côte d’Ivoire, with operations in 12 countries across West and Central Africa. With this transaction, National Bank and Amethis Africa Finance (“Amethis Finance”) acquire the equity stake held by private equity fund ECP Africa Fund III PCC in NSIA. National Bank will have a 20.9% interest, while that of Amethis Finance…

IMF approves $18 mln aid to Malawi after commitment to fight corruption

Posted on by The Editorial Team

LILONGWE (Reuters) – The International Monetary Fund will provide $18.1 million to Malawi after its government promised to tackle the corruption that led to a suspension of aid by donors following large-scale graft involving public funds. Donors led by former colonial ruler Britain have withheld direct aid to the southern African nation for more than a year over a corruption scandal in which top government officials and ministers siphoned millions of dollars from the public…

Japan tops project finance investment into the continent…

Posted on by The Editorial Team

Over the last 10 years, the level of project finance investments sponsored by Asian funds in Africa has increased by over 160%, with the amount of fresh capital poured into the continents’ projects such as roads, water sanitation plants and oil and gas pipelines in 2014 alone standing at USD 4.2bn, according to research by global law firm Linklaters. The surge, especially in the last five years, is perhaps surprisingly attributable to Japanese investors, who…

PIC puts R5bn into Northern Cape renewable energy projects

Posted on by The Editorial Team

RENEWABLE energy projects received a boost with the announcement on Wednesday of two new solar power plants to be built in the Northern Cape. The Public Investment Corporation (PIC) will invest R4.4bn, buying a 20% stake in each plant and providing debt funding for both totalling R600m. Worth R22bn, the Ilangalethu and Xina power stations are expected to contribute a combined 200MW to the national electricity grid. It usually takes two years to build a…

« 1 … 178 179 180 181 182 … 187 »