Finance

MAPUTO (Capital Markets in Africa) – Anadarko Petroleum Corp. wants a fleet of at least six vehicles with armor heavy enough to stop AK-47 bullets at its natural-gas project in Mozambique. And it needs them soon. The company called for expressions of interest from potential suppliers of so-called B6 specification vehicles, and also wants associated fleet management services, according to an advertisement published in the Maputo-based Noticias newspaper on Thursday. Anadarko is expected to spend at…

CAIRO (Capital Markets in Africa) – Egypt’s abolition of a repatriation mechanism for foreign investors won’t necessarily bring about more volatility in the pound, according to Goldman Sachs Group Inc. The majority of fund flows in the local bond market over the past two years were already taking place outside the repatriation mechanism, which guaranteed foreign-exchange availability for overseas investors, Goldman said in a report. Even then, the pound remained stable, it said. Any fluctuation would…

JOHANNESBURG (Capital Markets in Africa)  – South Africa’s Public Investment Corp. was reckless with pensioners’ funds when it invested about 90 billion rand ($6.6 billion) in bonds of state-owned utility Eskom Holdings SOC Ltd., according to the Association for Monitoring and Advocacy of Government Pensions. Other poor decisions by Africa’s biggest money manager included the provision of financial support to business ventures of media tycoon Iqbal Surve, AMAGP representative Albert van Driel told a commission of inquiry in…

LAGOS (Capital Markets in Africa)  – Nigeria is leading a continent-wide drive to raise as much as $9 billion to help African nations fund projects including oil exploration, refineries and pipelines, the country’s oil minister said. Africa’s largest oil producer is working with more than a dozen other nations grouped under the African Petroleum Producers Organization, or APPO, to raise $1 billion in start-up funding for the African Energy Investment Corp., Minister of State for Petroleum…

MAPUTO (Capital Markets in Africa)  – Gemfields Group Ltd., the owner of colored gemstone mines and maker of Faberge jewelry, has agreed to a 5.8 million pound ($7.6 million) settlement with a group of Mozambicans who said they suffered rights abuses around the company’s ruby mine in the north of the country. London-based law company Leigh Day last year brought a claim on behalf of the 273 people who lived near the Montepuez Ruby Mining…