Finance | - Part 7

IFC Plans More Nigeria Investment, $1 Billion in Bond Sale

LAGOS (Capital Markets in Africa)- The World Bank’s private-lending arm plans to boost investments in Nigeria by about 20 percent as Africa’s second-biggest oil producer tries to recover from a recession. The International Finance Corp. is looking to invest about $1.2 billion in Nigeria for the year through June 2018 using equity or debt the IFC raises itself or that it mobilizes from other sources, Country Manager Eme Lore said in a March 22 interview in Lagos,…

Tanzania gets $2.4 bln infrastructure projects loan from World Bank

Posted on by The Editorial Team

DAR AS SALAAM (Capital Markets in Africa) – The World Bank will lend Tanzania $2.4 billion over the next three years to finance infrastructure projects, the bank’s president Jim Yong Kim said on Monday. Tanzania is seeking to finance for infrastructure projects as part of its plans to transforming the country into a regional transport and trade hub. “Tanzania will be able to access an estimated $2.4 billion in concessional financing, an increase of half a…

Kenya says has drawn down $800 mln syndicated loan

Posted on by The Editorial Team

NAIROBI (Capital Markets in Africa) – Kenya has signed an $800 million syndicated loan with four international lenders and the government has already drawn down the sum, a senior Treasury official said on Monday President Uhuru Kenyatta, who faces re-election in August, has raised borrowing since taking power in April 2013. Last week, he dismissed criticism of the higher borrowing, saying it was funding development in the East African nation. In January, the Nairobi government…

Barclays Africa Debt Sale Misses Target as Banks Issue More

Posted on by The Editorial Team

JOHANNESBURG (Capital Markets in Africa) – Barclays Africa Group Limited sold less than half its target in a bond auction as a wall of debt issuance by South African banks and the impending exit of its U.K. parent, Barclays Plc, damped demand. Barclays Africa offered 1.5 billion rand ($113 million) of notes on Monday but raised only 642 million rand within price guidance, according to Deon Raju, head of treasury at the Johannesburg-based lender. The debt…

Cameroon considers two-year IMF aid programme to drive growth

Posted on by The Editorial Team

YAOUNDE (Capital Markets in Africa) – Cameroon and the International Monetary Fund are considering a two-year aid programme for the Central African country to deliver sustained and inclusive economic growth. Leaders of the Central African bloc (CEMAC) agreed in December to engage with the IMF to find ways to overcome macroeconomic instability caused in part by lower global commodity prices, the IMF said in a statement. Cameroon, which produces oil, cocoa, and coffee and is the…

Injaro sells stake in Burkina Faso seed producer

Posted on by The Editorial Team

Lagos (Capital Markets in Africa) – Injaro Investments, the manager of the agricultural impact fund IACHL, announces the sale of its 30% stake in seed producer NAFASO SA to the founders and other shareholders. This share sale represents a full exit from Nafaso after a holding period of just under four years. Injaro invested in Nafaso in March 2013. The company’s aim was to leverage the investment from Injaro (i) to increase Nafaso’s output of…

IFC and West African Development Bank Support Housing Finance

Posted on by The Editorial Team

LAGOS (Capital Markets in Africa) – IFC, a member of the World Bank Group, today announced a financing agreement with the West African Economic and Monetary Union’s Caisse Régionale de Refinancement Hypothécaire, the regional mortgage refinancing company, to address the pressing need for affordable housing in the West African Economic and Monetary Union (UEMOA) zone. IFC is providing an equity investment of 1.25 billion CFA franc ($2 million) in CRRH-UEMOA. CRRH-UEMOA, a regional initiative launched…

« 1 … 5 6 7 8 9 … 37 »