Finance | - Part 171

Randgold Resource stakes on Ghana’s Gold partnering with AngloGold

ACCRA, Ghana, Capital Markets in Africa — Randgold Resources Limited (“Randgold”) and AngloGold Ashanti Limited (“AngloGold Ashanti”) have concluded an investment agreement (the “Agreement”) aimed at the formation of a joint venture to redevelop and operate AngloGold Ashanti’s Obuasi gold mine in Ghana. In terms of the Agreement, Randgold will lead and fund a development plan designed to rebuild Obuasi as a viable long-life mining business with an attractive cost structure and returns. Obuasi, located in…

Guinea plans to build a US$2 Billion Hydropower Dam

Posted on by The Editorial Team

Conakry, Guinea, Capital Market in Africa — Guinea is in talks with China International Water & Electric Corporation (CWE) to build a US$2 billion hydropower dam that would boost the West African country’s energy output, according to Ministry for Energy official, Lansana Fofana. Lansana Fofana, said the proposed dam would double the country’s energy output, providing new capacity for the expansion of bauxite processing. “The idea is to feed the mining industry,” Fofana, the head of…

IFC and IFC ALAC Fund Invest in Afrimax Group to Support Expansion in Region

Posted on by The Editorial Team

Lagos, Nigeria, Capital Markets in Africa — IFC and the IFC African, Latin American, and Caribbean Fund (IFC ALAC Fund) have participated in a new round of growth financing for Afrimax to accelerate the rollout of its leading edge, LTE led business model, across multiple African markets. This latest investment round in Afrimax Group is led by Mitsui & Co., Ltd., the Japanese conglomerate headquartered in Tokyo, and includes participation from existing shareholders. IFC and the IFC ALAC…

IFC Launches $100 million Sukuk to Support Private Sector Development

Posted on by The Editorial Team

Lagos, Nigeria, Capital Markets in Africa — IFC, a member of the World Bank Group, announced today that it issued a $100 million trust certificates through a special purpose vehicle, IFC Sukuk Company, in an effort to spur growth in developing economies. The five-year Sukuk will support IFC’s developmental financing activities in the Middle East and North Africa (MENA), and other parts of the world. It will initially be listed on NASDAQ Dubai. An…

IFC Supports Sustainable Mining in Burkina Faso with Investment in Roxgold

Posted on by The Editorial Team

Ouagadougou, Burkina Faso, Capital Markets in Africa — IFC, a member of the World Bank Group, has taken an 8% equity stake in Roxgold Inc., a Toronto-based gold exploration and development company, to support sustainable development of the Yaramoko gold mine in western Burkina Faso. The 18.4 million Canadian dollar investment is IFC’s third investment in Burkina Faso’s mining sector, which is one of the West African country’s leading economic drivers. It is part of IFC’s…

AfDB approves US$22-million grant to break “triangle of thirst” in West Kordofan, Sudan

Posted on by The Editorial Team

Abidjan, Cote d’Ivoire, Capital Markets in Africa — The African Development Bank Group (AfDB) on Wednesday, September 9 committed a grant of US $22-million to finance water and sanitation facilities in the West Kordofan State of Sudan and a country-wide Institutional Capacity Development Program. More than 130,000 people (69,000 women) in the rural areas of West Kordofan State are targeted beneficiaries. Water supply points will also benefit approximately 730,000 heads of livestock. The Water Sector…

AfDB and Japan sign bilateral agreement for loan worth US$300 Mill …

Posted on by The Editorial Team

Abidjan, Cote d’Ivoire, Capital Markets in Africa — On September 8, 2015, the African Development Bank (AfDB) and the Government of Japan signed the sixth private sector assistance loan under the joint initiative titled Enhanced Private Sector Assistance (EPSA) for Africa. The loan, worth JPY 35.88 billion, equivalent to USD 300 million, is intended to support private sector operations in Africa. To mark this agreement a signing ceremony was held at AfDB headquarters in Abidjan, Côte…

« 1 … 169 170 171 172 173 … 186 »