Africa Finance |

Zimbabwe to issue new bond notes to bolster liquidity

HARARE (Capital Markets in Africa) – It was announced by the Governor of the Reserve Bank of Zimbabwe (RBZ), Dr Mangudya, on 15 September 2016, that “bond notes” will be issued by the end of October, in an effort to ease the recent cash shortages in the country. Liquidity difficulties – Zimbabwe has run out of US dollars, and does not have its own currency – have meant civil servants’ salaries are in arrears, and…

Infrastructure | Developing Transport, Energy and ICT Infrastructure in Uganda

Posted on by The Editorial Team

LAGOS, Nigeria, Capital Markets in Africa: In his reading of the National Budget Speech 2016/17 on 8th June this year, Finance Minister Matia Kasaijia noted that funding strategic transport, energy and Information Communications Technology (ICT) infrastructure was a key priority of the Ugandan Government. Kasaijia said that infrastructure development contributed immensely to increased productivity by facilitating efficient connectivity and easing the movement of goods and the provision of services. Infrastructure funding currently comprises about 32.8%…

Egypt Seeks $12 Billion IMF Loan to Repair Battered Economy

Posted on by The Editorial Team

CAIRO, Egypt, Capital Markets in Africa: Egypt plans to secure a $12 billion loan from the International Monetary Fund to ease a crippling dollar squeeze and restore confidence in the economy, an accord that would be the fund’s biggest aid package in a region pummelled by political unrest and the plunge in oil prices. Stocks surged after authorities said on Tuesday evening they will finalize terms with an IMF team set to visit Cairo from July…

Private Equity | Barclays Africa Said to Attract Abraaj-Led Group for Stake

Posted on by The Editorial Team

LAGOS, Nigeria, Capital Markets in Africa: Buyout firm Abraaj Group is leading a group of investors planning to bid for a minority stake in Barclays Plc’s African unit, according to people familiar with the matter. Abraaj is working with financial advisers and is in discussions to team up with other investors including a Middle Eastern sovereign wealth fund, the people said, asking not to be identified as the information is private. The private equity firm may bid for as…

Infrastructure | The Abraaj Group launches energy development arm dedicated to Global Growth

Posted on by The Editorial Team

London, United Kingdom, Capital Markets in Africa — The Abraaj Group (“Abraaj”), a leading investor operating in global growth markets, today announced the formation of a dedicated project development arm to further extend its investment capabilities in the energy infrastructure space. As a member of The Abraaj Group, Themis Energy (“Themis”) will leverage the Group’s local teams, global network, execution capabilities and existing infrastructure team to originate, develop and manage projects from concept stage to operations….

Africa’s much-trumpeted growth is a reality but not a quality growth — Dr. Calos Lopes

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Kinshasa, DR Congo, Capital Markets in Africa — The most urgent challenge faced by Africa at the present time is how to eradicate poverty while promoting prosperity. While we seem to be doing well on the latter front, with average economic growth of 5 per cent over the past decade – well above the global average – the picture is much less encouraging with regard to the fight against poverty. Africa’s much-trumpeted growth is a…

Africa Oil announces farm-out deal with Maersk Oil for Kenya and Ethiopia blocks ….

Posted on by The Editorial Team

Nairobi, Kenya, Capital Markets in Africa — Africa Oil Corp. (“Africa Oil” or the “Company”) is pleased to announce that it has entered into a definitive farm-out agreement with Maersk Oil & Gas A/S, a Danish oil and gas company owned by the Maersk Group (“Maersk”) whereby Maersk will acquire 50% of Africa Oil’s interests in Blocks 10BB, 13T and 10BA in Kenya and the Rift Basin and South Omo Blocks in Ethiopia in consideration…

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