Investment | - Part 7

Coca-Cola Nigeria Will Spend $600 Million on New Products

LAGOS (Capital Markets in Africa) – Coca-Cola Co.’s Nigerian operation will invest $600 million by 2020 to boost sales, in line with a global strategy to extend the product range beyond its soft drinks. The unit of the Atlanta-based beverage maker plans to expand its offering of drinks to include flavoured and condensed milk, iced tea and bottled water to meet demand in Africa’s most populous country, Peter Njonjo, the president of the West Africa operation,…

Botswana to Name Developer of $4 Billion Plant by December

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GABONORE (Capital Markets in Africa) – Botswana Oil Limited will decide by December on a company to build and operate a $4 billion coal-to-liquids plant, a facility it said may meet as much as 80 percent of the southern African country’s fuel demand. The state-owned oil firm received 11 bids by its August deadline and is subjecting them to “highly technical assessments,” spokeswoman Matida Mmipi said Monday by phone from the capital, Gaborone. She declined to…

Development Agencies Investing $1.6 Billion in Nigeria Power

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LAGOS (Capital Markets in Africa) – International development agencies are investing $1.6 billion in Nigeria’s plan to expand its power-grid capacity threefold in four years, the head of the country’s transmission company said. The World Bank, the French Development Agency, the European Union and the Islamic Development Bank are among agencies committing funds to projects in Nigeria to boost transmission capacity to 20,000 megawatts from the current 7,000 megawatts, Usman Mohammed, managing director of state-owned Transmission Company…

Trump’s Indefinite Travel Ban Opens New Stage in Legal Fight

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LAGOS (Capital Markets in Africa) – President Donald Trump restricted or suspended travel to the U.S. from eight countries, adding North Korea and Venezuela, while subtracting Sudan, from his earlier ban on travellers from six Muslim-majority nations. “I must act to protect the security and interests of the United States and its people,” Trump wrote in Sunday’s proclamation. The move came as the original order, which had been limited by court challenges, was set to expire. Speaking to…

Biggest Cocoa Growers Seek Larger Slice of Chocolate Profits

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ACCRA (Capital Markets in Africa) – The world’s biggest cocoa-growing nations in West Africa are targeting a larger slice of chocolate-making profits as most of the benefits of producing beans accrue outside their economies, Ghanaian President Nana Akufo-Addo said. Farmers in Ivory Coast and Ghana, the two countries which account for more than 60 percent of global cocoa output, earned the equivalent of 5.5 percent of a value chain that was worth more than $100 billion in 2015,…

Visa-Free Access to Cape Verde for EU May Boost Growth to 7%

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LAGOS (Capital Markets in Africa) – Cape Verde will exempt European Union citizens from needing visas to visit the West African archipelago as it strives to boost tourism, which is vital to its economy, according to the prime minister. Visa-free access for EU passport holders should begin in 2018, Prime Minister Ulisses Correia e Silva said by phone from Praia, the capital. The exemption is part of a raft of proposals that includes privatizing the ailing…

Aliko Dangote Ups Bidding War for PPC With Cash, Share Offer

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LAGOS (Capital Markets in Africa) – Dangote Cement Plc, the Nigerian company controlled by Africa’s richest person, has written to PPC Ltd. offering South Africa’s biggest cement maker cash and shares as part of a takeover deal that is fuelling a bidding war. “We are waiting for them to get back to us, hopefully early next week,” Aliko Dangote said in an interview with Bloomberg TV in New York. “They can be part and parcel…

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