Finance

LAGOS (Capital Markets in Africa) – MTN Group Ltd. agreed a 200 billion naira ($554.3 million), seven year loan facility with 12 Nigerian lenders to fund voice and data service expansion in its biggest market. The facility is denominated in naira and structured with a two-year moratorium and a repayment period of five years, the Johannesburg-based company said in an emailed statement. Lenders providing the facility include Ecobank Nigeria Ltd. and Fidelity Bank Plc. MTN, Africa’s…

LAGOS (Capital Markets in Africa) – Rising exploration is driving growth opportunities for mining services providers, according to Ausdrill Ltd., which has agreed to acquire a smaller rival to create Australia’s second-largest company in the sector. Ausdrill’s A$697 ($500 million) cash and share acquisition, including debt, of Barminco Holdings Pty will form a company with a client roster that includes BHP Billiton Ltd. and Newmont Mining Corp., Ausdrill said Wednesday in a statement. The mining sector is revving up a hunt…

JOHANNESBURG (Capital Markets in Africa) – South Africa’s government is close to agreeing to new tax breaks for international carmakers including Toyota Motor Corp., Ford Motor Co. and BMW AG in return for initiatives to boost jobs and exports, according to Trade and Industry Minister Rob Davies. A deal on a 15-year incentive program to replace one that expires in 2020 should be reached this year, Davies said in an interview Tuesday. While work is still to…