Finance | - Part 169

IFC Invests in Co-op Bank to Support Entrepreneurs and Housing Finance in Kenya

Nairobi, Kenya, Capital Markets in Africa — IFC, a member of the World Bank Group, announced today that it will provide a $105 million loan to the Co-operative Bank of Kenya (Co-op Bank) to support lending to small and medium businesses, women entrepreneurs and the housing sector. The second largest bank in Kenya by total assets, Co-op Bank has 143 branches across the country and a subsidiary in South Sudan. Small and medium enterprises account…

Sub-Saharan Africa: Long-term debt inflows rise 34%, China biggest bilateral creditor.

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Lagos, Nigeria, Capital Markets in Africa — The newly released 2016 edition of the International Debt Statistics (IDS) shows that external borrowing by countries in the Sub-Sahara Africa, excluding South Africa, has risen rapidly and been marked by a distinct change in borrowing patterns and creditor composition. Disbursements of long-term debt increased 34 percent in 2014 (to $54 billion), triple the comparable figures for other low- and middle-income countries, with private creditors accounting for 60 percent (50…

FMO supports inclusive finance in Africa

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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…

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