Senegal

Economic Boom Fuels Flurry of IPOs in Sleepy West African Bourse, Says CEO

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Economic Boom Fuels Flurry of IPOs in Sleepy West African Bourse, Says CEO

ABIDJAN (Capital Markets in Africa) – West Africa’s regional bourse aims to lure investors and increase the number of listings by more than a third in the next four years as some of the world’s fastest economic growth rates boost demand for capital. The Abidjan-based Bourse Regionale des Valeurs Mobilieres, or BRVM, is targeting 16 new listings by 2020 in the telecommunications, finance, agribusiness, civil engineering and mines and energy industries, Chief Executive Officer Edoh Kossi…

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Woodside takes $US350 million stake in Senegal offshore oil deal

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Woodside takes $US350 million stake in Senegal offshore oil deal

DAKAR (Capital Markets in Africa) – Woodside Energy has secured a 35 percent stake in three oil and gas tenements off West Africa after buying ConocoPhillips Senegal BV for $350 million. Woodside CEO Peter Coleman said in a statement on Saturday Woodside would be working with partners to commercialise the promising SNE and FAN deep-water oil discoveries off the coast of Senegal. “We look forward to working with the Government of Senegal and joint venture…

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African sovereign trio add to growing appeal for sukuk

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African sovereign trio add to growing appeal for sukuk

DAKAR (Capital Markets in Africa) – Senegal has upsized its second sale of sovereign sukuk, with Ivory Coast and Togo expected to close their own deals in coming days, as Islamic finance gains traction as an alternative funding option for African sovereigns. Despite strong growth in the Middle East and Southeast Asia, Islamic finance has lagged in Africa although it could be an important growth driver for the industry as it is home to a…

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OPIC Finances Wind Farm in Senegal, Solar Developer in Nigeria

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OPIC Finances Wind Farm in Senegal, Solar Developer in Nigeria

LAGOS, Capital Markets in Africa: The Overseas Private Investment Corp. lent $250 million to fund a wind project in Senegal. The Taiba N’Diaye wind farm is in western Senegal is expected to have a capacity of 158 megawatts once complete, the U.S. government’s development finance institution said in an e-mailed statement. OPIC has partnered with Lekela Power, a joint venture between Dublin-based Mainstream Renewable Power Ltd. and private equity investor Actis LLP, to build the project. It is…

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Senegal | Woodside to Buy Conoco’s Senegal Assets for $350 Million

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Senegal | Woodside to Buy Conoco’s Senegal Assets for $350 Million

DAKAR, Senegal, Capital Markets in Africa: Woodside Petroleum Limited agreed to buy ConocoPhillips’s assets in Senegal for $350 million to gain a stake in exploration blocks off the West African nation. ConocoPhillips holds 35 percent of a contract with the Senegal government covering three offshore blocks, Rufisque Offshore, Sangomar Offshore and Sangomar Deep Offshore, Perth-based Woodside said in a statement to the stock exchange Thursday.  “This is a gutsy move from Woodside, which will only pay off…

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Senegal President Sall Says Nation Will Sell Bond This Year

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Senegal President Sall Says Nation Will Sell Bond This Year

DAKAR, Senegal, Capital Markets in Africa: Senegalese President Macky Sall said his administration will tap the international bond market this year to fund infrastructure development and accelerate growth that’s being driven by surging peanut and rice production. The West African nation intends raising $500 million to $1 billion through the sale of a Eurobond, Sukuk or Samurai bonds, Sall said in a May 13 interview in Kigali, Rwanda’s capital, where the World Economic Forum held its annual…

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Cote D’Ivoire Equity Markets | 27 Oct 2015: Bullish mood continues, investors smile home with US$18 Million …

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Cote D’Ivoire Equity Markets | 27 Oct 2015: Bullish mood continues, investors smile home with US$18 Million …

Abidjan, Cote d’Ivoire, Capital Markets in Africa — BRVM (The Regional Stock Exchange of eight West Africa) closed its trading session this Tuesday higher than the previous day. BRVM 10 index rose from 305.78 to 305.95 points, a gain of 0.06 percent. BRVM Composite index gained 0.13 percent at 306.23 points against 305.82 points previously. The equity market capitalization grew by XOF 10.2 billion (about US$17.51million) to close at XOF 7,557 billion relative to the previous trading…

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