News | - Part 83

Actis launches $1.9bn pan-African renewable energy platform

Actis today announced the launch of a pan-African renewable energy generation platform, Lekela Power. Actis is investing alongside Mainstream Renewable Power, the global wind and solar developer, which will own the other 40% of the platform. Lekela Power is the eighth such energy platform Actis has created, following a proven replicable strategy of aggregating energy assets into scalable regional platforms. This focused approach was most recently demonstrated in the development of Ostro Energy, a renewable…

Rwanda: Equity Banking Group Cross-Lists in Rwanda

Posted on by The Editorial Team

Kigali, Rwanda — Equity Group Holdings, one of Kenya’s biggest banking concerns, last week became the fourth firm to cross-list on the Rwanda Stock Exchange joining the Uganda Securities Exchange and the Nairobi Stock Exchange. “This is a major milestone in our development plan of truly becoming an East African Bank,” Equity Group CEO and MD, Equity Bank Rwanda James Mwangi said during a news conference held at the just concluded Capital Markets East Africa…

Nigeria: NSE Plans Initiatives to Maintain Africa’s Investment Destination

Posted on by The Editorial Team

The Nigerian Stock Exchange, NSE, has expressed it readiness to introduce initiatives that will help position it as attractive listing and investment destination in Africa. This, according to the NSE Chief Executive, Mr. Oscar Onyema, is in keeping with its unwavering commitment to solidify its leadership position as Africa’s foremost securities exchange. Addressing journalists in a press conference, Onyema said the Exchange will focus on delivering several initiatives in support of its revised strategy within…

Ghana: Bank of Ghana Maintains Policy Rate at 21%

Posted on by The Editorial Team

In line with our expectation, the Monetary Policy Committee (MPC) of the Bank of Ghana (BoG) maintained the policy rate at 21%, continuing the tight monetary stance. Inflation for Jan-15 eased for the first time in 16 months by 60bps to 16.4%, weighed down by the declining crude oil price and a relative stability in exchange rate and utility prices. Despite the downward pressure from the low crude oil price and improved inflation expectations, the…

Nigeria’s inflation rate rose to 8.2 percent

Posted on by The Editorial Team

Faster Growth in Core Index drives Headline Inflation Higher The National Bureau of Statistics (NBS) released Nigeria’s Inflation estimates for January 2015 today (16/02/2015). The NBS estimated that the Headline inflation rose 20bps Year on year (y-o-y) from December 2014 to 8.2% in January 2015. Although the accelerated growth in the Headline Index was in line with the broader market expectation, the actual growth estimated by the NBS was 30bps lower than our forecast –…

IFC’s raises $5 mln in first Rwandan franc offshore bond

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KIGALI, Feb 13 (Reuters) – The World Bank’s private sector arm has raised 3.5 billion Rwandan francs ($5 million) with the first offshore bond in the Rwandan currency, it said on Friday. The landlocked central African nation of 11 million people has been attracting a steady stream of investors and firms drawn by its small but growing market, and its debut $400 million Eurobond in 2013 was heavily oversubscribed. “It was done to create an…

The Davos Challenge: bikes for school children in SA

Posted on by The Editorial Team

When was the last time you walked 6km to work or school? Did you know that this is the average daily distance to school for half a million students in South Africa? This past week, participants at the World Economic Forum took part in “The Davos Challenge: Walk for Education” by having their steps tracked with electronic pedometers. For every 6km walked, UBS and the UBS Optimus Foundation donated a bicycle for school children in…

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