Africa Finance |

Zimbabwe Plans $1 Billion Infrastructure Bond in 2019 for Roads

HARARE (Capital Markets in Africa) – Zimbabwe plans to sell $1 billion of bonds next year to fund projects that include expanding the main road between the capital and the border with South Africa, Finance Minister Mthuli Ncube said. The southern African nation wants to improve the highway linking Harare with the border town of Beit Bridge, he told business leaders in the capital Friday. Yesterday, Ncube unveiled his 2019 budget in which he cut…

Nordex Wins Order for 80 Wind Turbines to South African Projects

Posted on by The Editorial Team

JOHANNESBURG (Capital Markets in Africa) – Nordex SE was awarded contracts to supply 80 turbines with a total capacity of 252 megawatts to the Garob and Copperton onshore wind projects in South Africa. The turbine manufacturer will build 46 AW125/3150 units for the Garob project ordered by Enel Green Power and 34 for Copperton ordered by developer Elawan, Hamburg-based Nordex said in a statement. “Such announcements bode well for the beleaguered projects that had to wait…

Egypt’s Sarwa Capital Seeks Raising About $120 Million in IPO

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CAIRO (Capital Markets in Africa) – Sarwa Capital, an Egyptian consumer and structured-finance provider, plans to sell a stake of as much as 40 percent in an initial public offering to raise capital for expansion. The Cairo-based company plans to list the shares on the local stock exchange in early October, Chief Executive Officer Hazem Moussa said in an interview. The company will use the proceeds, expected to be about $120 million, to grow consumer…

Egypt Eyes Sovereign Fund By Year End to Shake Up State Assets

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CAIRO (Capital Markets in Africa) – Egypt plans to launch its first sovereign fund by the end of the year and will begin a roadshow in the first half of 2019 to drum up private investment, the country’s planning minister said. Modelled after sovereign funds in India and Malaysia, Egypt’s new investment arm will seek to generate additional wealth from under-utilized state assets rather than investing surplus oil and gas revenues as Gulf countries do….

INTO AFRICA March 2018 Edition: Sailing Africa 2018 Investment Prospects

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LAGOS (Capital Markets in Africa) – Welcome to the March 2018 edition of INTO AFRICA, a publication with fresh insight into Africa’s emerging capital markets. The edition is titled: Sailing Africa 2018 Investment Prospects. After a difficult period from 2014 to 2016, African equities posted excellent returns in 2017, with the Zimbabwean Stock Exchange (ZSE) the top performer with triple-digit growth. The market gains are in line with performances recorded across the globe where stock…

African Development Bank to Add $2 Billion to Nigeria Loans

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LAGOS (Capital Markets in Africa) – The African Development Bank plans to increase its loans to Nigeria by more than $2 billion next year with investments in energy, infrastructure and agriculture, its President Akinwumi Adesina said. “The total portfolio we have in Nigeria is $6 billion,” Adesina said in a Jan. 18 interview in Abuja, the capital. “We expect that by the year 2019, we will grow that into a little bit over $8 billion.” The Abidjan, Ivory Coast-based…

Trump Denies Calling Haiti, African Nations `Shithole’ Places

Posted on by The Editorial Team

LAGOS (Capital Markets in Africa) – President Donald Trump on Friday denied labeling Haiti, El Salvador and African nations “shithole countries” during an Oval Office meeting with senators on immigration, despite accounts of three people briefed on the conversation. “The language used by me at the DACA meeting was tough, but this was not the language used,,’ Trump said in a Twitter posting on Friday morning, using an acronym for the Deferred Action for Childhood Arrivals, a program protecting…

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