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Algerian state energy firm Sonatrach is in talks with 14 international firms for a joint venture to trade oil and gas products after agreeing to buy its first overseas refinery, its CEO said on Thursday. "I am happy to say...
A privately-owned Nigerian producer of building materials, Ibeto Cement Co. Ltd, has signed a deal to get $850 million in financing from Milost Global Inc, a New York-based private equity firm. According to Bloomberg, Milost will provide $500 million in equity and $350 million as debt to...
Chief Executive Officer (CEO) of Stanbic IBTC Pension Managers Ltd. (SIPML) Mr Eric Fajemisin, said the firm invested 12.5 percent of its Assets Under Management (AUM) worth N2.53 trillion, representing N350 billion, into the Nigerian Stock Exchange (NSE). Speaking at...
Tongaat Hulett aims to expand its business in Angola and other African nations that rely on sugar imports, in line with a strategy to bulk up in the central and southern region of the continent, the company said on...
Africa’s telecommunication giant MTN is said to start selling about a third of its Ghanaian unit worth $754 million representing 35 percent of the $2 billion next week in an initial public offering. This will be 10 times larger than...
Tycoon Humphrey Kariuki’s Great Lakes Africa Energy (GLAE) has entered an agreement with the Mozambique government to generate electricity using natural gas for domestic use at a cost of Sh40 billion ($400 million). The UK-based pan-African energy solution firm develops...
The risk of a reversal in the inflation drop that has characterised many of the biggest African economies in the last year, will likely mean a freeze on borrowing costs. Rate decisions across Africa in the next two weeks are...
China’s largest state-owned aluminum producer is pushing further into Africa to secure supplies of raw materials used to make the metal. Aluminum Corp. of China Ltd.’s Hong Kong unit plans to invest as much as $164 million in the Boffa...
The world’s three largest oil traders are competing to buy the African arm of Brazil’s Petrobras (PETR4.SA) that owns stakes in two major Nigerian offshore oil blocks, industry and banking sources with knowledge of the matter said, after submitting...
Billionaire Beny Steinmetz is back to mining diamonds. The Koidu mine in Sierra Leone, controlled by the billionaire’s family trust, has started mining again after halting production for almost a year. It’s the latest step in a recovery for a business that’s...

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