Finance | - Part 31

PwC Survey: Optimism and opportunities abound in Africa’s Infrastructure space

Lagos, Nigeria (Capital Markets in Africa) — Dealing with Africa’s infrastructure backlog and its future demand is high on the agenda of leaders and civil society on the continent and abroad. While the continents infrastructure currently lags well behind that of the rest of the world with some 30% in a dilapidated condition, there is widespread recognition that there are vast business opportunities on the continent as a growing consumer market continues to develop as well as a large number…

World Bank Group Approves $500 Million For Eastern Africa Development Corridor

Posted on by The Editorial Team

Nairobi, Kenya (Capital Market in Africa) —The World Bank Group has approved $500 million for the development of the transport and trade corridor in north-western Kenya and improve the livelihoods of the communities in Turkana and West Pokot counties. The World Bank Board of Executive Directors today approved the International Development Association (IDA)* credit for the East Africa Regional Transport, Trade and Development Facilitation Project, which will enhance regional competitiveness by improving the movement of goods and…

Barclays eyes Kenyan asset management after insurance deal

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Nairobi, Kenya (Capital Markets in Africa) – Barclays Africa Group plans to move into the asset management business in Kenya this year after reaching a deal on Wednesday to buy a majority stake in insurer Kenya First Assurance Ltd for 2.8 billion shillings ($28.84 million). Barclays’ deal to buy a 63.3 percent in the Kenyan insurance company is part of a plan to boost revenue from its African operations outside of South Africa. Barclays Africa…

IDB Raises Sukuk Issuance Programme Ceiling from US$10 Billion to US$25 Billion

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MAPUTO, Mozambique (Capital Markets in Africa) — The Board of Executive Directors (BOED) of the Islamic Development Bank at its 305th session which began on Sunday, 7/6/2015, in Maputo, capital of the Republic of Mozambique, under the chairmanship of H.E. Dr Ahmad Mohamed Ali, chairman of the Islamic Development Bank Group, approved the raising of the current limit of the Bank’s medium term sukuk issuance programme from US$10 billion to US$ 25 billion. On this…

Dubai’s Access Infra Africa to Boosts Africa’s Power Supply by US$500 million

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Accra, Ghana (Capital Markets in Africa) — Access Infra Africa, a Dubai-based company, will launch what it says will be Africa’s largest privately owned solar plant in Uganda this year, part of plans to develop electricity projects in 17 African countries, mainly based on renewable energy. The company will spend USD 500m in the next three years on power generation plants, including in Egypt, Ghana, Uganda, Tanzania, Kenya and Mozambique, Reda el-Chaar, executive chairman of Access…

How the finance sector can drive Africa’s economic growth

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Johannesburg, South Africa (Capital Markets in Africa) — The rise of Africa’s financial services sector in recent years has been remarkable. From a relatively underexplored and underinvested sector a mere decade ago, today, this sector is considered to be one of the continent’s brightest prospects. This is due to the fact that financial sector development has been on the agenda of African policymakers for some time now as (aside from profitable opportunities for investors) continued…

Financial services firm gets $20m for Africa expansion

Posted on by The Editorial Team

Port Louis, Mauritius (Capital Markets in Africa): Mauritius-based financial services firm, afb, which provides innovative consumer and SME financial products, has signed a $20 million investment deal with GEMCORP, that enables the former to hasten its speed of growth within sub-Saharan Africa. A statement from afb, quoted the firm’s chief executive officer, Karl Westvig as saying that the deal will help them extend to a number of countries within the next five years. Currently, afb…

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