Infrastructure Finance

IFC and banks close $653 mln in funding for Egypt solar plants

CAIRO (Capital Markets in Africa) – International Finance Corporation (IFC), a member of the World Bank Group, on Sunday said it had completed a $653 million debt package to finance building 13 solar power plants near Aswan in Egypt, planned to be part of the largest solar park in the world. Generating up to 752 megawatts of solar power, the Nubian Suns Feed-in-Tariff Financing Program is targeted to provide power to more than 350,000 residents…

Zimbabwe Cabinet Stalling $400 Million Rail Recap, Minister Says

Posted on by The Editorial Team

HARARE (Capital Markets in Africa) – Zimbabwe’s cabinet hasn’t approved a $400 million deal with Transnet SOC Limited to recapitalize National Railways of Zimbabwe because it’s concerned about the government taking on more debt, Transport Minister Joram Gumbo said. Zimbabwe awarded the contract to the South African ports and rail operator in August in a joint venture with the Diaspora Infrastructure Development Group after issuing a tender to recapitalize state-owned NRZ. The Zimbabwean operator, which is plagued by…

Tanzania Invites Tenders for Africa’s Fourth-Biggest Hydro Plant

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DAR ES SALAM (Capital Markets in Africa) – Tanzania invited bids for the construction of a $2 billion hydro-power plant that will rank as the fourth-biggest in Africa. The proposed Stiegler’s Gorge Project will be built on the Rufiji River in eastern Tanzania with a minimum capacity of 2,100 megawatts, the Energy Ministry said in tender documents emailed from the commercial capital, Dar es Salaam, on Wednesday. Bids must be submitted by Oct. 16 and the facility…

Ghana targets five million passengers yearly with AfDB-funded international airport expansion

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ACCRA (Capital Markets in Africa) – The project, funded by the African Development Bank (AfDB) with a $120-million facility, will improve air transport in the country. It is also expected to contribute towards boosting the country’s economy, reduce the cost of doing business, and improve competitiveness. “This terminal is being built for a successful economic future. Its large capacity is a confident statement of intent,” said AfDB President, Akinwumi Adesina during a tour of the…

INTO AFRICA August 2017 Edition: Delivering Value via African Capital Markets

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LAGOS (Capital Markets in Africa) – Welcome to the August edition of INTO AFRICA, the publication with fresh insight into Africa’s emerging markets. This month edition focuses on Capital Markets in Africa and titled: Delivering Values via African Capital Markets. The capital market is one of the key components of the engine of a modern economy, as it mobilises and pools savings from the public and efficiently channels them into business investments. It also helps…

Ethiopia plans to offer firms shares in road projects

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ADDIS ABABA (Capital Markets in Africa) – Ethiopia plans to offer shares in its road-building and maintenance projects to private investors, its finance minister said on Tuesday, the latest step to open up and modernize the state-led economy. The Horn of Africa country has over 113,000 kilometres (68,0000 miles) of paved roads and plans to increase that to 220,000 kilometres by 2019/20, official data showed. “We do not have private-run roads. Through public-private partnerships, the…

Gabon Seeks Private Partnerships to Boost Processing of Minerals

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Libreville (Capital Markets in Africa) – Gabon, Africa’s second-biggest manganese producer, wants to partner with private companies to process most its minerals locally before exporting them, Mining Minister Christian Magnagna said. Local processing will boost the mining industry’s contribution to gross domestic product from the current 2.1 percent to at least 4 percent as the central African nation seeks to make its economy less dependent on oil, Magnagna said in an interview in the capital, Libreville….

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