Finance | - Part 169

FMO supports inclusive finance in Africa

HAGUE, Netherlands, Capital Markets in Africa — The Dutch development bank, FMO, has provided a five year loan for USD 10 million from the MASSIF fund to VisionFund International (VFI), a global microfinance organisation. This transaction will especially benefit rural communities and female clients from VisionFund’s African microfinance institutions (MFIs). In addition, FMO has also provided a USD 275,000 Capacity Development (CD) grant to support VFI with an innovative approach to disaster resilient microfinance. VFI…

Multinational companies see long-term growth potential in Nigeria — Moody

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Lagos, Nigeria, Capital Markets in Africa — Multinational companies operating in Nigeria remain committed to participating in the long-term growth of Africa’s biggest economy and most populous country. This is despite the current environment of a continued low oil price and slowing economic expansion, Moody’s Investors Service said in a report published today and titled “Nigeria — Multinational Companies: Long-term Growth Strategies Resilient Despite Weak Oil Price Environment”. Large companies are sticking to their long-term…

Gulf investors access Africa via co-investment with private equity funds and invest US$9.3 billion

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DUBAI, Capital Markets in Africa — In support of its efforts to highlight attractive investment opportunities in Africa to its members, Dubai Chamber of Commerce & Industry launched new report entitled “Beyond Commodities: Gulf Investors and the new Africa”, which has highlighted that co-investment with private equity funds, purchase of private equity businesses, and direct buyouts or minority share acquisition represent the most significant modes of FDI entry for Gulf investors interested in Sub-Saharan Africa. The study,…

Africa Oil announces farm-out deal with Maersk Oil for Kenya and Ethiopia blocks ….

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Nairobi, Kenya, Capital Markets in Africa — Africa Oil Corp. (“Africa Oil” or the “Company”) is pleased to announce that it has entered into a definitive farm-out agreement with Maersk Oil & Gas A/S, a Danish oil and gas company owned by the Maersk Group (“Maersk”) whereby Maersk will acquire 50% of Africa Oil’s interests in Blocks 10BB, 13T and 10BA in Kenya and the Rift Basin and South Omo Blocks in Ethiopia in consideration…

Ease of Doing Business: Mauritius is the African champ, Eritrea worst globally …

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Lagos, Nigeria, Capital Markets in Africa — The Doing Business 2016: Measuring Regulatory Quality and Efficiency, a World Bank Group flagship publication, was released on 27th October 2016. Singapore remained the world’s easiest place to do business for the ninth year in a row the World Bank said in its report that ranks 189 countries based on 10 criteria tied to the business climate, such as ease of opening a business, paying taxes or getting…

Forte Oil Nigeria Sales 17% Stake to Mercuria For US$200 Million

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Lagos, Nigeria, Capital Markets in Africa —- One of Nigeria’s integrated energy solution providers, Forte Oil Plc, confirmed the acquisition of 17 percent of its equity by Mercuria Energy Holdings SA for $200 million. With the foreign direct investment in Forte Oil, the world’s third largest independent energy trader and asset operator has made inroads into the West African energy sector. Forte Oil said in a press release that through this investment, it had…

Ghana Airports Company boosts by AfDB’s US$120-million corporate loan

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Accra, Ghana, Capital Markets in Africa — On September 30, 2015, the Board of Directors of the African Development Bank (AfDB) approved a US$120 million corporate loan to support Ghana Airports Company Limited’s (GACL) capital investment programme. The programme entails the construction of a new terminal at Kotoka International Airport (KIA) in Accra, and rehabilitation of other airports managed by GACL including Kumasi, Tamale, Ho and Wa Airports. The loan is the first private-sector investment…

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