Author: The Editorial Team

LAGOS (Capital Markets in Africa) – Nigeria plans to become a net exporter of fertilizer after commissioning the world’s second-biggest urea plant. The 3 million-ton facility near Lagos, the commercial hub, adds to existing output of 3.1 million tons in the West African nation, according to the central bank. The biggest plant of its kind in Africa, owned by billionaire businessman Aliko Dangote, is already shipping to the U.S., India, and Brazil. “This fertilizer plant is…

NEW YORK (Capital Markets in Africa) – Warren Buffett is telegraphing his disdain for Wall Street bankers with an oddball price on his latest multibillion-dollar takeover. The $848.02 for every share that Alleghany Corp. stockholders get from Berkshire Hathaway Inc. is the result of Buffett balking at the banking fee being set aside by the target company — in this case for Goldman Sachs Group Inc., which is advising the insurer. Berkshire had offered to pay $850 a share with…

CAIRO (Capital Markets in Africa) – Egypt plans to raise the equivalent of about $500 million with its first yen bonds, according to an official, as the government seeks to diversify funding for the economy that’s under pressure from the war in Ukraine and soaring commodity prices. The government is issuing the yen-denominated five-year debt in a private placement that will probably be completed Thursday, the head of the finance ministry’s debt management unit, Mohamed…