Investment | - Part 19

Glencore Considering Bid for Impala’s Chrome Waste Operations

JIOHANNESBURG (Capital Markets in Africa) – Glencore Plc, the mining and trading firm run by billionaire Ivan Glasenberg, is considering bidding for Impala Platinum Holdings Ltd.’s 65 percent stake in a chrome waste-retreatment operation in South Africa, two people familiar with the matter said. Glencore already has an agreement to buy metal from Chrome Traders Processing (Pty) Ltd., the closely held company that owns 30 percent of the business controlled by Impala. Glencore, which has chrome…

ADvTECH acquires majority stake in University of Africa, Zambia

Posted on by The Editorial Team

LUSAKA (Capital Markets in Africa) – ADvTECH, Africa’s largest private education provider, is pleased to announce the acquisition of a 51% stake in the University of Africa (“UoA”). Following the International Finance Corporation’s (“IFC”) investment in the Group in 2016 to support its expansion strategy, this acquisition represents the Group’s first tertiary partnership outside of South Africa. A private distance-learning university based in Zambia, UoA has a rapidly growing student base from across the continent…

Uganda negotiating $2.3 bln loan with China to fund rail line

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KAMPALA (Capital Markets in Africa) – Uganda is negotiating a $2.3 billion loan with China’s Exim Bank to fund an initial 273 km stretch of rail line the east African country is planning to build for faster and cheaper transportation, an official said on Thursday. Landlocked Uganda eventually wants to construct a 1,700 km standard gauge railway network to connect with similar lines being built in neighbouring Kenya. The rail links are expected to help…

Tanzania Telecom Talking to Banks on $300 Million Expansion

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DAR Es Salam (Capital Markets in Africa) – Tanzania Telecommunications Co., the state-owned phone company, said it’s in talks with banks to raise funds for a $300 million expansion program to take on larger rivals including Vodacom Tanzania Ltd. An unspecified amount of funding has already been secured from the state-owned TIB Development Bank for the five-year strategy, acting Chief Executive Officer Waziri Kindamba said in an interview Tuesday in the commercial capital, Dar es Salaam. The company,…

Vodacom Said to Mull Sale of Shareholding to Black Investors

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JOHANNESBURG (Capital Markets in Africa) – Vodafone Group Plc’s publicly traded South African unit is considering the sale of a 15 billion rand ($1.1 billion) stake in what would be one of the country’s biggest ever deals aimed at boosting black participation in the economy, according to two people familiar with the matter. Vodacom Group Ltd. plans to buy back part of the 12.47 percent stake owned by government-pension fund manager the Public Investment Corp., said…

Turkey Plans to Invest $1 Billion in Mozambique Over 20 Years

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MAPUTO (Capital Markets in Africa) – Turkey will invest $1 billion in Mozambique over the next two decades, President Recep Tayyip Erdogan said during a two-day visit to the southern African country struggling to attract foreign investment. Mozambique’s finances have been in trouble since early 2016 when it emerged the government withheld information about the magnitude of its indebtedness while arranging new credit. The nation has since said missed interest payments for external commercial loans, including a…

Pearl Capital Partners reaches first close for Uganda fund

Posted on by The Editorial Team

KAMPALA (Capital Markets in Africa) – The European Union (EU), the International Fund for Agricultural Development (IFAD) and the National Social Security Fund (NSSF) are working together to catalyse investment in the agriculture value chain with the launch today of the Yield Uganda Investment Fund. An initial EUR12mn (UGX46bn) has been made available to provide much needed access to capital for small and medium agri-businesses in Uganda. This new impact Fund, being arranged by Deloitte…

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