Finance | - Part 160

De Beers Sells $560 Million of Diamonds, Least Since January

SOUTH AFRICA, Capital Markets in Africa: De Beers reduced diamond sales at its fifth offering this year to the least since January. The value of the Anglo American Plc unit’s sales was $560 million compared with $636 million at the previous offering, the London-based company said in statement Tuesday. “Sales in the fifth cycle of the year were somewhat lower than in the fourth cycle, in line with our expectations and typical seasonal demand patterns,” outgoing De Beers…

Infrastructure | Engie Seeks to Tap Off-Grid Solar to Power Millions in Africa

Posted on by The Editorial Team

LAGOS, Nigeria, Capital Markets in Africa: Engie SA is seeking to become a player in the off-grid solar industry, one of the first major utilities to work directly in that niche of the energy system. “It could be a sizable part of the market,” Bruno Bensasson, chief executive officer of Engie’s Africa business unit, said in an interview in London. “Solar home systems are part of an energy proposal for countries, as well as national grids. We…

Infrastructure | Mainstream Raises $118 Million for African Wind and Solar Farms

Posted on by The Editorial Team

LAGOS, Nigeria, Capital Markets in Africa: One of Africa’s biggest renewable-energy developers raised $118 million to expand its footprint in the continent’s fast-growing markets for solar and wind power. Mainstream Renewable Power Ltd., a Dublin-based clean-energy developer, raised the funds to help finance the $1.9 billion Lekela Power joint venture, which plans to install more than 1.3 gigawatts of renewable electricity across Africa by 2018, Chief Executive Officer Eddie O’Connor said. “It’s high risk, so…

Orange completes acquisition of mobile operator Airtel in Burkina Faso

Posted on by The Editorial Team

PARIS, France, Capital Markets in Africa: Orange announces today that, together with its subsidiary Orange Côte d’Ivoire, it has completed the acquisition of 100% of the mobile operator Airtel in Burkina Faso. Since the signature of an agreement with Bharti Airtel International (Netherlands) BV (“Airtel”) in January 2016, Orange has obtained all the official approbations necessary to complete this transaction. Airtel is the 2nd largest mobile operator in Burkina Faso, with close to 4.6 million…

Infrastructure | Ethiopia Plans $8 Billion Investment in Clean Energy

Posted on by The Editorial Team

Addis Ababa, Ethiopia, Capital Markets in Africa: Ethiopia plans to install almost 13,000 megawatts of renewable energy over five years in a bid to bring power to three out of every four citizens who currently live without electricity, a top government official said. “Currently we have an installed capacity of about 4,200 megawatts,” said Motuma Mekassa, Ethiopia’s electricity minister, in an interview at the Africa Energy Forum in London. It will cost “at least” $8…

Rand Snared and Ruble Spared Brexit Risk in U.K. Finance Web

Posted on by The Editorial Team

Johannesburg, South Africa, Capital Markets in Africa: South Africa’s rand is among emerging-market currencies most vulnerable to upheaval if Britain votes to leave the European Union, while ruble investors may find some benefit from the isolation provided by sanctions on Russia. That’s a possible conclusion to draw from a ranking of countries in central Europe and Africa based on the depth of their financial ties with U.K. banks, compiled by analysts at UniCredit SpA. British lenders’…

Yield Exceeding 10% May Lure Investors to Ghana’s Eurobond Sale

Posted on by The Editorial Team

ACCRA, Ghana, Capital Markets in Africa: With yields among the highest in Africa, Ghana may find plenty of takers searching for a premium in a coming round of Eurobond sales. The world’s second-largest cocoa grower plans to raise as much as $1 billion after the International Monetary Fund endorsed its efforts to consolidate debt and stabilize a volatile currency. A successful sale hinges on government officials persuading potential buyers that double-digit returns are adequate compensation for concerns…

« 1 … 158 159 160 161 162 … 186 »