Infrastructure |

Infrastructure spending in developing countries needs to double

Spending on infrastructure in developing countries needs to double, says Trafigura, one of the world’s biggest independent commodity trading and logistics houses. In a in a white paper discussion launched at the Gordon Institute of Business Science (Gibs) on the 17th of April, the group emphasized that mitigation of financial risk is key to managing infrastructure projects. The Foundations for Growth: Infrastructure Investment in Emerging Markets paper written by London-based independent economists Llewellyn Consulting said…

Treasury raises Sh24bn from 12-year reopened bond

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The 12-year Sh25 billion infrastructure bond tap sale (reopening) has raised Sh24 billion, meaning the Treasury has achieved its target of netting Sh50 billion from the issue. All the subscriptions to the bond were accepted and allotted at the same fixed yield rate of 11.55 per cent like in the first sale of the bond. The initial sale of the infrastructure bond done in the last week of March was oversubscribed 106 per cent, attracting…

Tunisia: AfDB grants €49.4 million loan to enhance natural gas supply to disadvantaged regions

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Tunis, Tunisia (Capital Markets in Africa) — The Board of Directors of the African Development Bank (AfDB) Group approved on Wednesday, April 1, 2015 in Abidjan, a €49.4-million loan to the Tunisian Electricity and Gas Corporation, la Société tunisienne d’électricité et du gaz (STEG). The project for the development of natural gas transportation and distribution to the western part of the country is aimed at improving the supply of cheaper and less-polluting energy to the…

Japan tops project finance investment into the continent…

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Over the last 10 years, the level of project finance investments sponsored by Asian funds in Africa has increased by over 160%, with the amount of fresh capital poured into the continents’ projects such as roads, water sanitation plants and oil and gas pipelines in 2014 alone standing at USD 4.2bn, according to research by global law firm Linklaters. The surge, especially in the last five years, is perhaps surprisingly attributable to Japanese investors, who…

Siemens to supply turbines for Egyptian power plant

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CAIRO, March 10 (Reuters) – Siemens will supply four turbines to a power plant near Egypt’s Suez City to add more than 650 megawatts (MW) of power generation to the creaking national grid, suggesting that government efforts to encourage investment are bearing fruit. The German industrial group said on Tuesday it was awarded a contract to supply the E-Class turbines to the Attika Power Plant under a supply contract with El Sewedy Power System Projects….

Nigeria Must Reduce Thirst for Oil Revenues, Says IMF

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Mobilizing more non-oil revenue is critical to Nigeria’s future growth, the International Monetary Fund concluded in a report this week on Nigeria’s economic and monetary policies. Although oil represented only 13% of gross domestic product in 2013 — services accounted for more than 50% — oil remains critical to Nigeria as a revenue and foreign-exchange source. But in order to ensure future economic stability, the country must reduce its dependence on oil revenues and strengthen…

Ethiopia sets sights on building new airport, beyond Addis Ababa expansion project

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A major infrastructure project in Ethiopia designed to expand the capacity for handling passengers passing through the capital’s airport is on course for completion in 2018, but moves are already under way to build an additional airport. Bole International Airport, on the edge of Addis Ababa, will be able to triple the number of passengers it handles from the current level of around seven million annually when the expansion project is completed, Ethiopian Airports enterprise…

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