The German government has announced that it will hold the first meeting between the Group of 20 (G20) and leaders of African countries on Tuesday, October 30 in Berlin. Ulrike Demmer, deputy spokesperson for the German Executive, stated that the event is being held at the invitation of Federal Chancellor Angela Merkel, and recalled that…
Details The German government has announced that it will hold the first meeting between the Group of 20 (G20) and leaders of African countries on Tuesday, October 30 in Berlin. Ulrike Demmer, deputy spokesperson for the German Executive, stated that the event is being held at the invitation of Federal Chancellor Angela Merkel, and recalled that…
Details A’s first equity crowdfunding platform, Uprise.Africa, has secured an undisclosed amount of funding from Silicon Valley-based venture capital (VC) firm Nexxus Ventures. The Cape Town-based online equity crowdfunding platform says it recently concluded an investment round on a R60 million evaluation. Through the investment, Uprise.Africa has formed a strategic partnership with Nexxus that will focus on identifying South African businesses…
Details The AfDB launched its Room2Run initiative last month which effectively freed up $700m off the bank’s balance sheet. The Africa50 fund officially opened its headquarters in Casablanca, Morocco, in September of this year. Mandated in 2013, during the African Union’s 50th anniversary, it has built a capital base of $850m with a medium-term target of $3bn. When African…
Details South Africa’s plan to rejig 32.4 billion rand ($2.3 billion) of spending to boost economic expansion is unlikely to significantly alter the nation’s growth trajectory, Fitch Ratings Ltd. said. Finance Minister Tito Mboweni announced measures to allocate funds to “faster-spending programs,” incentives for the clothing and textile industries and public-works projects in his Oct. 24…
Details South African lenders have more than enough resources to meet President Cyril Ramaphosa’s efforts to bolster economic growth and lure more investment into the country. The challenge is finding bankable projects. “From a banking perspective there’s plenty of capital and plenty of appetite for growth,” said James Formby, the chief executive officer of FirstRand’s investment-banking…
Details South African lenders have more than enough resources to meet President Cyril Ramaphosa’s efforts to bolster economic growth and lure more investment into the country. The challenge is finding bankable projects. “From a banking perspective there’s plenty of capital and plenty of appetite for growth,” said James Formby, the chief executive officer of FirstRand’s investment-banking…
Details Oil production at Total SA’s subsidiary in the Republic of Congo has exceeded expectations, a company official said. The company is pumping 200,000 barrels per day in the Central African nation, Martin Deffontaines, general manager of Total E&P Congo, said by phone Friday from Pointe Noire, Congo’s commercial capital. “Its production is far more than what…
Details Oil production at Total SA’s subsidiary in the Republic of Congo has exceeded expectations, a company official said. The company is pumping 200,000 barrels per day in the Central African nation, Martin Deffontaines, general manager of Total E&P Congo, said by phone Friday from Pointe Noire, Congo’s commercial capital. “Its production is far more than what…
Details 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…
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