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THE African Medallion Group (AMG) has introduced a US$1 billion gold-backed bond certificate, a global solution that enables people from anywhere in the world to invest in and enjoy the benefits of owning the special metal. The development is expected...
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...
Africa Finance Corporation (AFC) and Harith General Partners (Harith), acting on behalf of its portfolio company Aldwych Holdings Limited, are pleased to announce final close of the merger of their respective electricity generation assets into a new operating company,...
Orange wants to be much more than a telecoms operator in Africa. We want to be a provider of essential services for our customers.” – Bruno Mettling, CEO of Orange Middle East and Africa. As part of its diversification plan...
On 2 July, the PSA Group – manufacturer of the Peugeot, Citroën, DS, Opel and Vauxhall brands – produced its first vehicle assembled in Morocco at the brand new factory in Kenitra’s Atlantic Free Zone (AFZ), north of Rabat. Commercial production...
Nigeria’s central bank said on Wednesday it had ordered South African telecoms firm MTN and four banks to bring $8.134 billion back into the country that MTN had illegally sent abroad in breach of foreign exchange regulations. The news...
For bond investors, Africa’s been a happy hunting ground this year. Its local-currency and dollar securities easily outperformed those of emerging markets overall as investors piled into a continent offering high yields and starting to recover from the commodity bust...
A subsidiary of New Sparta Asset Management, New Sparta Energy (NSE) was established in 2017 to identify, develop, build and operate power generation assets in Africa, with a focus on renewables, and to sub-advise NSAM on Africa strategy. Our in-house...
FinDev Canada, Canada’s development finance institution, has annoucned its first transaction, a $10m investment in M-KOPA, a ‘pay-as-you-go’ energy provider to off-grid homes in Kenya. M-KOPA has connected 600,000 homes across Africa, providing 75 million hours of kerosene-free lighting each...
The Minister of Finance, Mrs Kemi Adeosun says Nigeria has raised three billion dollars at the international capital market. She made this known in a statement issued by Mr Oluyinka Akintunde, the Special Adviser, Media and Communications on Wednesday in...
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