New Delhi: Half a dozen marque investors, including Warburg Pincus LLC, Temasek Holdings, Singapore Telecommunications Ltd and SoftBank Group Corp, will invest a combined $1.25 billion in Bharti Airtel Ltd’s unit in Africa ahead of a potential initial public offering (IPO). India’s second-largest mobile operator by users will use the funds to trim Airtel Africa Ltd’s debt of…
Rwanda’s Bank of Kigali has priced its rights issue at 270 francs per share, seeking to raise 60 billion francs ($67.81 million), it said in a statement seen by Reuters on Friday. The lender, which is Rwanda’s biggest by assets, is offering one new share for every three held, issuing a total of 222.22 million…
On 2 July, the PSA Group – manufacturer of the Peugeot, Citroën, DS, Opel and Vauxhall brands – produced its first vehicle assembled in Morocco at the brand new factory in Kenitra’s Atlantic Free Zone (AFZ), north of Rabat. Commercial production is due to start in March 2019, with an initial output of 100,000 vehicles a year.…
frican exchanges largely performed well in 2018, but there are some challenges taking shape African stock exchanges have performed fairly well on the whole this year, but the Turkish lira crisis in August sent shockwaves of worry across emerging markets. As interest rates rise in the US and other Western markets, emerging markets are expected…
Africa Finance Corporation (“AFC” or “the Corporation”) (www.AfricAFC.org), the leading infrastructure development finance institution in Africa, announces its successful acquisition of a loan facility from the Export-Import Bank of China (“CEXIM”) of a US$200m 5-year loan and a US$100m 5-year stand-by facility for general corporate purpose. The facility from CEXIM marks AFC’s inaugural financing facility from…
The Kenya Power Pension Fund (KPPF) has been named the best fund in Africa. This is after it emerged the winner of the category in the recently-held Africa Investor (Ai) Capital Market & Index Series Awards in New York, USA. The Fund topped the category, African Pension Fund Initiative of the Year in the prestigious award, edging…
The Kenya Power Pension Fund (KPPF) has been named the best fund in Africa. This is after it emerged the winner of the category in the recently-held Africa Investor (Ai) Capital Market & Index Series Awards in New York, USA. The Fund topped the category, African Pension Fund Initiative of the Year in the prestigious award, edging…
58 years of Nigeria’s independence, Ebere Nwoji writes that the pension sector has recorded significant growth. The pension sector no doubt, is one of the fast growing sectors of the economy since the introduction of the funded Contributory Pension Scheme (CPS) Indeed, with the quantum of assets accumulated by the sector, Nigeria has no doubt…
The African Development Bank has approved a $217.9 million loan to South Africa’s power utility Eskom Holdings, towards the upgrade and expansion of its transmission facilities. The funding supports the Eskom Transmission Improvement Project (ETIP), which will see the construction of 555km of 400kV transmission lines in KwaZulu-Natal and Mpumalanga province and the upgrading of…
Canada’s Barrick Gold Corp has agreed to buy Randgold Resources Ltd in an all-stock deal valuing the Africa-focused miner at $6.5 billion, to create the world’s largest gold producer in an industry under investor pressure to put capital to good use. The new Barrick company, which will be listed in New York and Toronto, will…