The Editorial Team |

Verod Capital fully exits HFP Engineering and partially exits GZ industries

Verod Capital has fully exited ownership of HFP Engineering (“HFP”), a Nigerian company based in Lagos. Established in 1979, HFP is a major player in the property development and construction industry in Nigeria. The company developed several landmark projects in Nigeria, including Victoria Garden City, a residential estate with an estimated population of 30,000 inhabitants. In 2008, Verod Capital acquired a 33% stake in HFP, and contributed significantly to developing the business and expanding its…

Mauritius’ budget deficit to widen to 3.2 pct in 2015/2016

Posted on by The Editorial Team

PORT LOUIS (Reuters) – The Mauritius budget deficit for fiscal year 2015/2016 (July-June) is forecast to widen to 3.5 percent of gross domestic product from 3.2 percent in the year 2014 (Jan-Dec), the finance minister said on Monday. In a budget speech to parliament, Finance Minister Seetanah Lutchmeenaraidoo also said the Indian Ocean island’s economy will expand by 5.3 percent in the 2015/2016 fiscal year, above an estimated 3.5 percent expansion in 2014 (Jan-Dec)….

Tanzania’s current account deficit narrows 4.7 pct in year to Jan

Posted on by The Editorial Team

DAR ES SALAAM (Reuters) – Tanzania’s current account deficit narrowed 4.7 percent in the year to January, after exports of manufactured goods and tourism earnings increased, the central bank said on Monday. The deficit narrowed to $4.822 billion in the 12 months to January from $5.059 billion in the same period in 2014, the Bank of Tanzania said in its latest monthly economic report. “The improvement was mainly attributed to an increase in exports…

Zambia to export 800,000 T of white maize to neighbouring states

Posted on by The Editorial Team

LUSAKA (Reuters) – Zambia plans to export 800,000 tonnes of white maize to neighbouring countries after producing its biggest ever harvest, leaving the southern African nation with a large surplus, the agriculture minister said on Monday. Given Lubinda said on Hot FM Radio that Zambia had a surplus of over 1.1 million tonnes of white maize after its harvest rose by a third, to 3.3 million tonnes in the 2013/2014 (October-April) season compared with the…

Mauritius foreign direct investment jumps 48.7 pct in 2014

Posted on by The Editorial Team

PORT LOUIS (Reuters) – Foreign direct investment in Mauritius grew 48.7 percent in 2014 to 14.15 billion rupees ($388.20 million), thanks to investment in real estate, hotels and restaurants, official data showed on Friday. Foreign investment in real estate led with a total of 6.17 billion rupees, the central bank said. Hotels and restaurants accounted for 4.89 billion rupees. France was the biggest source of investment with 3.48 billion rupees. Famed for its white sand…

S&P cuts Nigeria to B+ on weak oil, cites political risk

Posted on by The Editorial Team

ABUJA (Reuters) – Credit agency Standard & Poor’s downgraded Nigeria’s rating to B+ from BB- on Friday, saying the decline in oil prices in the past seven months had significantly affected the country’s finances. Setting a stable outlook on the new rating, it also said political risk was a significant factor while the country’s non-oil sector would support economic growth. Nigeria holds a presidential election on March 28 when Goodluck Jonathan will seek another term….

African Inflation Snapshot: February 2015

Posted on by The Editorial Team

Angola inflation rises to 7.73 percent: Angola’s consumer inflation edged up to 7.73 percent year-on-year in February from 7.44 percent in January, data from the statistics office. On a month-on-month basis, prices were up 0.76 percent after a 0.72 percent increase previously. Botswana’s inflation falls to 2.8 percent: The annual inflation rate in February 2015 was 2.8 percent, a drop of 0.8 of a percentage point on the January 2015 rate of 3.6 percent. Annual…

« 1 … 1,052 1,053 1,054 1,055 1,056 … 1,066 »