News | - Part 25

Senegal President Sall Says Nation Will Sell Bond This Year

DAKAR, Senegal, Capital Markets in Africa: Senegalese President Macky Sall said his administration will tap the international bond market this year to fund infrastructure development and accelerate growth that’s being driven by surging peanut and rice production. The West African nation intends raising $500 million to $1 billion through the sale of a Eurobond, Sukuk or Samurai bonds, Sall said in a May 13 interview in Kigali, Rwanda’s capital, where the World Economic Forum held its annual…

Congo Scales Back Eurobond Plans as It Seeks World Bank Help

Posted on by The Editorial Team

Kinshasa, DR Congo, Capital Markets in Africa: The Democratic Republic of Congo scaled back plans to sell $1 billion of Eurobonds and instead asked multilateral lenders for direct budgetary support after the collapse in commodity prices forced the government to cut spending. The World Bank will provide $250 million to $500 million of assistance, in addition to $100 million from the African Development Bank, pending a review in June by the International Monetary Fund of the country’s…

Congo Targets Airtime Touts as Central Bank Props Franc

Posted on by The Editorial Team

Kinshasa, DR. Congo, Capital Markets in Africa: Mobile-phone airtime touts on the streets of the Democratic Republic of Congo’s capital have become the latest target in the government’s attempt to stop the slide of the Congolese franc. The traders who peddle mobile credit to pedestrians in Kinshasa must stop speculating on the exchange rate and sell $1 airtime cards for no more than 1,000 Congolese francs ($1.05), according to a statement issued May 11 by the office…

Algeria Signs Oil, Gas Deal as OPEC Member Boosts Sales

Posted on by The Editorial Team

Algiers, Algeria, Capital Markets in Africa: Algeria will supply oil and other energy products to Jordan for the first time under a memorandum of understanding signed on Monday, as the OPEC member seeks to diversify sales after years of stagnating oil production. Algeria’s state-run Sonatrach Group will start liquefied natural gas and liquefied petroleum gas shipments to Jordan in September, followed by crude oil, Algerian Energy Minister Salah Khebri said in an interview in Amman. Sonatrach and National Electric Power…

Ghana Interest Rates Seen Steady as Issahaku Holds First Meeting

Posted on by The Editorial Team

ACCRA, Ghana, Capital Markets in Africa: Ghana’s new central bank governor, Abdul Nashiru Issahaku, will probably keep policy unchanged at his debut interest-rate announcement after inflation started to slow and the cedi stabilized. Issahaku, 54, appointed last month after the early retirement of Kofi Wampahin March, will probably leave the benchmark rate at 26 percent when he announces the first Monetary Policy Committee decision under his leadership on May 16, according to the median of eight economist estimates compiled by Bloomberg….

Rwanda in Talks With IMF for Standby Facility as Imports Surge

Posted on by The Editorial Team

Kigali, Rwanda, Capital Markets in Africa: Rwanda is in talks with the International Monetary Fund to arrange a standby facility of about $200 million to help offset the impact of declining export revenue and surging imports, Central Bank Governor John Rwangombwa said. The collapse in global commodity prices is expected to result in “negative growth” in revenue for Rwanda’s mineral shipments this year, Rwangombwa said in an interview Friday at the World Economic Forum on Africa in the…

Zambia Will Only Take IMF Bailout If Terms Agreeable, Lungu Says

Posted on by The Editorial Team

LUSAKA, Zambia, Capital Markets in Africa: Zambian President Edgar Lungu said Africa’s second-largest copper producer will only access International Monetary Fund support if the lender’s conditions are acceptable. “If we find that there are conditionalities which we find acceptable, we will work with them,” he told reporters Friday in Lusaka, the capital. “If not, we will throw them out.” The southern African nation had earlier said it was working to seal an “inevitable” aid program from the…

« 1 … 23 24 25 26 27 … 84 »