Finance | - Part 162

Investment | Green Power Investing Brightens Returns in Ailing South Africa

Johannesburg, South Africa, Capital Markets in Africa: A program that’s making South Africa the top destination for green-power investments across the continent and the Middle East is not only easing an electricity crisis: returns are beating those in bonds and stocks. The Renewable Energy Independent Power Producer Procurement Program secured about $12.5 billion since 2011 and will attract another $35 billion by 2020, according to data compiled by Bloomberg New Energy Finance. With state-guaranteed contracts to buy the power over…

Infrastructure | Engie Arranges $588 Million in Loans for South Africa Solar

Posted on by The Editorial Team

Johannesburg, South Africa, Capital Markets in Africa: Engie SA arranged 9.2 billion rand ($589 million) in loans for a 100-megawatt solar thermal power project in South Africa. Rand Merchant Bank, Nedbank Ltd., ABSA Capital Ltd. and Investec Plc are among the project’s debt providers, Chadbourne & Parke LLP, the law firm that advised Engie on the deal, said in an e-mailed statement Wednesday. The Kathu solar project in the Northern Cape Province is 48.5 percent owned by…

Trade Finance | Afreximbank Vows $1 Billion for Ivory Coast Cocoa Projects

Posted on by The Editorial Team

Abidjan, Ivory Coast, Capital Markets in Africa: African Export-Import Bank said it will provide as much as $1 billion in finance for cocoa and cashew projects in Ivory Coast as the country seeks to increase its domestic processing capacity. The bank is offering loans to private investors and projects owned by the state, which will also guarantee the finance, Benedict Oramah, chief executive officer of the Cairo-based lender known as Afreximbank, told reporters in the commercial capital,…

Investment | Nigeria Talking With Ansteel of China Over $4.5 Billion Project

Posted on by The Editorial Team

LAGOS, Nigeria, Capital Markets in Africa: Nigeria is in talks with companies including Ansteel Group Corporation of China to revive its $4.5 billion Ajaokuta steel complex, according to solid minerals development minister Kayode Fayemi. While construction of Ajaokuta started over three decades ago along the Niger River in central Nigeria with a planned production of 5 million metric tons annually, it was never completed. President Muhammadu Buhari wants to revive the factory project to diversify Africa’s largest economy which relies on oil,…

Investment | Ascendis to Buy Remedica, Scitec for as Much as $566 Million

Posted on by The Editorial Team

Johannesburg, South Africa, Capital Markets in Africa: Ascendis Health Limited entered agreements to buy separate pharmaceutical and sports-nutrition companies for a total of as much as 505 million euros ($566 million), and will pay for the purchases through debt facilities and a potential share sale. The company will pay 260 million euros to 335 million euros for Cyprus-based pharmaceutical company Remedica Holdings Limited and about 170 million euros for Scitec International Sarl, Johannesburg-based Ascendis said in…

Investment | SN Power AS Invests in the Bujagali Hydropower, Uganda

Posted on by The Editorial Team

JOHANNESBURG – Allen & Overy LLP announced today that it has advised SN Power AS, the state-owned Norwegian company and one of the world’s leading international hydropower firms, on its acquisition of an interest in the Bujagali hydropower project (“Bujagali”) in Uganda from SG Bujagali Holdings, Ltd (“SGBH”). Bujagali is a 250 MW hydropower facility located near Jinja, Uganda. It has been financed and developed by Bujagali Energy Limited, an entity owned by affiliates of…

MTN Raises South Africa Investment to $757 Million for Deals

Posted on by The Editorial Team

Johannesburg, South Africa, Capital Markets in Africa: MTN Group Limited raised its South Africa investment target by 50 percent as the continent’s biggest wireless operator by sales looks to boost its data-services offering with acquisitions and network upgrades in its home market. Capital expenditure will be about 12 billion rand ($757 million) in the country in 2016, MTN’s South Africa head Mteto Nyati told reporters in Johannesburg on Thursday. That compares with an 8 billion rand target…

« 1 … 160 161 162 163 164 … 186 »