Infrastructure |

EIB gives Madagascar 300 mln euro loan for roads, power

Antananarivo, Madagascar (Capital Markets in Africa):- The European Investment Bank (EIB) has given Madagascar a 300 million euro ($333 million) loan to go be used to rehabilitate roads, power and energy infrastructure, the island state said. The president’s office in Madagascar said in a statement late on Tuesday that the EIB loan would also help in emergency repair work resulting from cyclone damage. President Hery Rajaonarimampianina took office in January 2014 after successful elections in 2013…

South African metros’ borrowing to rise to fund infrastructure projects

Posted on by The Editorial Team

Johannesburg, South Africa (Capital Markets in Africa):- South African metropolitan municipalities’ borrowing is expected to increase over the next three years to help pay for infrastructure spending needed to provide adequate electricity, water, roads and social housing for growing populations, Moody’s Investors Service said in a report published today. The report, entitled “South Africa Metropolitan Municipalities: Borrowing to increase as infrastructure investment needs rise”, is now available on www.moodys.com. Moody’s subscribers can access this report…

Pembani Remgro Infrastructure Fund raises $245 Million to Power Africa

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Johannesburg, South Africa (Capital Markets in Africa):- The Pembani Remgro Infrastructure Fund, announced today that it has achieved a successful first closing of $245 million. In addition, the Fund has received a further commitment equal to 20% of the fund size, capped at $100 million, from the Overseas Private Investment Corporation (OPIC). The formal fundraising process commenced in May 2014, with the aim of achieving final close during 2015 at a target fund size of…

AfDB Staked $200 Million for Africas Renewable Energy

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The African Development Bank (AfDB)’s fund portfolio for renewable energies in Africa increased by 10 per cent to US$200 million in the last five years. According to the 2014 report launched by the bank on Monday, the portfolio size multiplied by 10 during the last five years and was now worth more than $200 million. Most project funding has been implemented by the Global Environment Facility (GEF) through AfDB since 2008. The report said the…

Tanzania revives plans to float its debut USD 700m Eurobond to fund key projects

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Tanzania has revived its plan to float a debut TZS 1.1tn (USD 700m) Eurobond to fund infrastructure projects, especially in the gas sector. This is despite several failed attempts since 2008. The East African reports that the Ministry of Finance and Economic Affairs, during the financial year 2013/14, awarded ratings agency tenders to Fitch, Standard & Poors and Moodys. However, the companies declined the offer on the grounds that they were not ready to work…

Infrastructure spending in developing countries needs to double

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Spending on infrastructure in developing countries needs to double, says Trafigura, one of the world’s biggest independent commodity trading and logistics houses. In a in a white paper discussion launched at the Gordon Institute of Business Science (Gibs) on the 17th of April, the group emphasized that mitigation of financial risk is key to managing infrastructure projects. The Foundations for Growth: Infrastructure Investment in Emerging Markets paper written by London-based independent economists Llewellyn Consulting said…

Treasury raises Sh24bn from 12-year reopened bond

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The 12-year Sh25 billion infrastructure bond tap sale (reopening) has raised Sh24 billion, meaning the Treasury has achieved its target of netting Sh50 billion from the issue. All the subscriptions to the bond were accepted and allotted at the same fixed yield rate of 11.55 per cent like in the first sale of the bond. The initial sale of the infrastructure bond done in the last week of March was oversubscribed 106 per cent, attracting…

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