Finance | - Part 30

Zimbabwe Market Watch | 8th July 2015: Zimbabwe industrial index puts up a fight, ends up 0.74 points, mining down -6.43%, but market cap tops US3,814 Mill..

Harare, Zimbabwe (Capital Markets in Africa):– The Zimbabwe Stock Exchange (ZSE) industrial index climbed out of the red zone as the week entered it’s second day of trading with market capitalization also in the red. Market activity, foreign buys and foreign sales all dropped down into the red at the end of the day’s session with only the Mining Index finding some recovery. The Industrial index was up 0.74 points increasing by 0.51 percent to end at 145.77 points, bringing the year-to-date to 10.45…

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…

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…

Kenya: Gulf Petrochem Group acquire Essar Petroleum East Africa

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NAIROBI, Kenya (Capital Markets in Africa) — Gulf Petrochem Group today announced the official acquisition and name change of Essar Petroleum East Africa Ltd to ASPAM Energy (Kenya) Ltd. The deal will enhance the group’s integrated services and products for the downstream supply chain in the oil and gas sector in East Africa. Gulf Petrochem Group secured the due approvals from the Energy Regulatory Commission (ERC), the Competition Commission and other regulatory bodies. ASPAM Energy (Kenya) will…

Nigeria: Helios and Vitol acquire equity stake in Oando’s downstream businesses

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LAGOS, Nigeria (Capitla Markets in Africa) — A consortium comprising Helios Investment Partners (“Helios”, acting on behalf of funds it advises) and The Vitol Group (“Vitol”) (together, the “Consortium”) today announced it has reached an agreement to acquire 60 per cent of the economic rights and 51 per cent of the voting rights in the West African downstream business of Oando Plc, an integrated oil and gas company headquartered in Nigeria, for a sum of…

Zambia’s capital city to receive US $50 million for sustainable urban sanitation

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Lusaka, Zambia (Capital Markets in Africa) —- The Board of Directors of the African Development Bank (AfDB) Group on June 24, 2015 approved a loan of US $50 million to finance the Lusaka Sanitation Program targeted at Lusaka, the capital city of Zambia. The Executive Directors, in approving the loan, expressed their satisfaction with the innovative approach in addressing the challenges of sanitation particularly among the poor in informal settlements. They urged the African Development…

AfDB approves €50.20 million loan for Egypt National Drainage to boost agriculture

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Cairo, Egypt (Capital Markets in Africa) — The African Development Bank (AfDB) will support Egypt’s National Drainage programme (NDP) to boost agricultural production and household income generation with a €50.20 million loan approved by AfDB Board on Wednesday, May 17 in Abidjan. The programme aims to optimize the benefits of irrigation by draining excess irrigation water from agricultural land in order to reduce water logging and soil salinity as well as make more land available…

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