Africa | - Part 45

Broadly stable global sovereign outlook for 2015

The global sovereign outlook for 2015 is broadly stable – a change from the diverse global trends seen in recent years, according to Moody’s 2015 Outlook: Global Sovereigns. The financial crisis and the sovereign debt crisis laid bare weaknesses in the credit quality of euro area sovereigns which resulted in widespread downgrades. In contrast, the economic benefits derived from the ‘commodities supercycle’ allied with structural and institutional reforms allowed material credit improvements (and consequently rating…

Helios Fund III poised to close $1.1 billion

Posted on by The Editorial Team

London, United Kingdom, 12th January 2015: Helios Investment Partners (“Helios”), a leading pan-African private investment firm, today announced it has exceeded the $1 billion target set for its third Africa-focused fund and the firm will shortly be closing the fund at its $1.1 billion hard cap. Continued strong support from existing investors, who represent over 60% of the capital committed to Helios Investors III, L.P. (“Helios III”), coupled with commitments from other leading global institutional…

Centum exits stake in UAP Holdings Limited

Posted on by The Editorial Team

Centum Investment Company Limited (“Centum”) is pleased to announce that it has entered into an agreement with a member of the Old Mutual Group for the sale of Centum’s 13.75% shareholding in UAP Holdings Limited. Alongside the sale by Centum, Dr Christopher John Kirubi, a director and shareholder of Centum, has agreed to sell his 9.58% stake in UAP Holdings Limited to the same buyer. When the sale is completed, Old Mutual Holdings will be…

Fitch Affirms Cote d’Ivoire at ‘B’; Outlook Positive

Posted on by The Editorial Team

Fitch Ratings affirmed Côte d’Ivoire’s long-term foreign and local currency Issuer Default Ratings (IDRs) at ‘B’, with a ‘positive’ outlook. It also affirmed the short-term foreign currency IDR at ‘B’ and the Country Ceiling at ‘BBB-‘, in line with the Country Ceiling of the West African Economic and Monetary Union to which Côte d’Ivoire belong. It said that the ratings and the outlook are supported by solid economic activity in the context of political stability,…

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