News | - Part 52

Orange increases its capital interest to 49% in Méditel

PARIS, France (Capital Markets in Africa) — Fipar-Holding (the Moroccan Caisse de Dépôt et de Gestion group), FinanceCom and Orange signed the final documentation today increasing Orange’s interest in Méditel, the Moroccan telecommunications operator, in application of the agreements they signed in December 2010. Through this transaction, Orange has acquired an additional 9% of Méditel’s capital and benefits from the rights set out in the December 2010 agreements. As a result, Orange now holds 49% of…

Central Bank of Nigeria Holds Key Interest Rate at 13%

Posted on by The Editorial Team

Lagos, Nigeria (Capital Markets in Africa) :- The Central Bank of Nigeria (CBN) held its benchmark interest rate unchanged at 13 percent at the Monetary Policy Committee (MPC) meeting today.

Zambia to issue up to $2 bln 10-year Eurobond – govt

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LUSAKA, Zambia (Capital Markets in Africa) – Zambia will issue a 10-year Eurobond of as much as $2 billion on Thursday, one of frontier Africa’s biggest international bonds, to fund a widening budget deficit in the copper exporter, a presidential spokesman said. “We expect the Eurobond to be issued today. It will be between $1.5 billion and $2 billion and the maturing date is 10 years,” Amos Chanda, a spokesman for President Edgar Lungu, told…

Mozambique on strong growth performance and low inflation say IMF

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Maputo, Mozambique (Capital Markets in Africa) – Following the Executive Board’s discussion, Mr. Min Zhu, Deputy Managing Director and Acting Chair, issued the following statement: “Mozambique’s continued strong growth performance and low inflation are commendable. Investments in large coal and natural gas projects underpin a positive medium-term outlook, but low commodity prices have increased near-term risks. “Recent program performance under the Fund’s Policy Support Instrument has been mixed. While structural reforms have been proceeding, there were macroeconomic policy…

Rwanda targets $1.2 bln foreign investment in 2015

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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…

In Tunisia, Second Deadly Attack on Tourists in Four Months Is Credit Negative

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Tunis, Tunisia (Capital Markets in Africa) — Last Friday, a Tunisian student attacked foreign tourists at a beach resort in Sousse, Tunisia, killing at least 38. It was the second large-scale attack on foreign tourists in the country in just four months, following two Tunisian gunmen killing 22 people at a museum in Tunis in March. Although Tunisia’s (Ba3 stable) successful democratic transition between 2011 and 2014 and our outlook for its economic recovery prompted…

AfDB approves US $22.5-million to improve investment climate and forest governance in Congo

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Abidjan, Cote d’Ivoire (Capital Markets in Africa) — The Board of Directors of the African Development Bank Group (AfDB) on Wednesday, July 1, 2015 approved a US $22.5-million loan to the Republic of Congo to help finance the country’s Investment Climate and Forest Governance Support Project (PACIGOF). The project aims to promote robust and inclusive growth by improving the business climate and diversifying the Congolese economy. It will strengthen the capacity of private sector support…

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