Finance | - Part 36

Tanzania to get $380 mln loans from India for water projects

DAR ES SALAAM (Reuters) – Tanzania will receive a total of $380 million in loans from India to finance two major water projects in the east African nation, the president’s office said on Tuesday. India’s government has offered $100 million to improve water supply in the commercial capital Dar es Salaam and $280 million to help supply water from Lake Victoria to Tabora, Nzega and Igunga towns, the presidency said in a statement. Earlier this…

Egypt’s Sawiris to diversify Orascom, invest $500 mln in Egypt

Posted on by The Editorial Team

SHARM EL SHEIKH, Egypt (Reuters) – Top Egyptian businessman Naguib Sawiris said he was ready to invest $500 million in Egypt and was diversifying his telecoms business into infrastructure, energy and transportation, sectors which need major funds in the country.Sawiris, a billionaire from a powerful Coptic Christian family, said the investment conference in the Red Sea resort of Sharm El-Sheikh had been a success but that the government would need need to make efforts to…

Gulf Arab allies pledge $12 billion to Egypt at summit

Posted on by The Editorial Team

SHARM EL-SHEIKH (Reuters) – Gulf Arab allies pledged a further $12 billion of investments and central bank deposits for Egypt at an international summit on Friday, a big boost to President Abdel Fattah al-Sisi as he tries to reform the economy after years of political upheaval.Kuwait, Saudi Arabia and the United Arab Emirates each offered $4 billion to Egypt, which is grappling with Islamist insurgents as it attempts to improve the investment climate four years…

Nigeria: claiming the African M&A crown

Posted on by The Editorial Team

Nigeria is home to the world’s seventh-largest population (with 173 million inhabitants), which is expected to surpass Brazil’s by 2030. And with increasing disposable incomes and a GDP growth rate around the 6% mark for the last 10 years, it isn’t hard to understand why Jim O’Neill, former Chairman of Goldman Sachs Asset Management International, included Nigeria as one of the new wave of emerging economies, alongside Mexico, Indonesia and Turkey — the MINTs —…

Egypt’s Banks to benefit from improved environment

Posted on by The Editorial Team

Business Monitor International anticipated the Egyptian banking sector to benefit from the continuous improvements in domestic economic activity and political conditions. It said that reforms to the fuel subsidy system, in addition to lower global oil prices, would improve the fiscal outlook and reduce the financing needs of the government, which would encourage lending to the private sector. Further, it indicated that banks in Egypt have subscribed excessively to high-yielding government debt instruments to support…

Mining for liquidity in Africa’s stock exchanges

Posted on by The Editorial Team

Improvements in political and macroeconomic stability, policy certainty and legal systems in many African countries, as well as Africa’s growing middle class and rise in consumption, continue to raise the bar on foreign interest in Africa as an investment destination – as GDP growth (as a whole) averages at six percent for three consecutive years*. Yet, Africa hasn’t reached its potential share of investment in extractive service. In fact, the UNCTAD has revealed that although…

Ghana govt, IMF agrees on $940milion support reform plan

Posted on by The Editorial Team

The loan, which could receive final approval in early April, would back a program aimed at boosting economic growth and tightening fiscal discipline. Ghana would implement its reform program under a three-year Extended Credit Facility arrangement from the IMF, which is still subject to approval by the IMF’s management and Executive Board. One of the priorities of Ghana’s program is to restore debt sustainability through a sustained fiscal consolidation. Offshore oil production came on stream…

« 1 … 34 35 36 37 »