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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...
UseKamba, or Kamba for short, is an Angola-based fintech startup. Its mobile wallet application allows users to transfer funds between each other, buy airtime and pay bills. “The main reason behind the existence of Kamba is the need to revolutionise,...
Investec Asset Management Private Equity (Investec) has divested its equity holding in Ashwah Holdings (Ashwah), parent company of Daraju Industries (Daraju), by selling its significant minority stake back to the company. Daraju is a leading Nigerian manufacturer of high-quality and...
Egypt has seized the number one spot from South Africa as the most attractive investment destination on the continent, according to Rand Merchant Bank's (RMB) Investment Attractiveness Index For the first time, Nigeria and Algeria do not feature in the...
MTN Group Ltd. plans to borrow as much as 400 billion naira ($1.1 billion) in Nigeria this year as Africa’s largest wireless carrier by sales seeks to fund local investment and replace existing debt in the continent’s most populous country. MTN...
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...
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...
New Delhi: Half a dozen marque investors, including Warburg Pincus LLC, Temasek Holdings, Singapore Telecommunications Ltd and SoftBank Group Corp, will invest a combined $1.25 billion in Bharti Airtel Ltd’s unit in Africa ahead of a potential initial public offering (IPO). India’s...
Nissan Motor Co. Ltd. plans to start assembling vehicles in Kenya, bolstering government plans to develop a regional auto-manufacturing hub in East Africa’s biggest economy. The Japanese automaker is the latest to target Kenya after Volkswagen AG, PSA Peugeot and CNH Industrial...
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