Saturday, November 17, 2018
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...
Aspen Pharmacare Holdings Ltd.’s infant formula business has drawn interest from companies including Reckitt Benckiser Group Plc and Perrigo Co., as the largest African drugmaker evaluates options for the business, people familiar with the matter said. Family-owned French dairy group Lactalis and Australia’s...
South Africa is considering an initial price talk into the Eurobond market of about 6% and 6.37%. South Africa is hoping to ride a wave of improved investor sentiment by tapping the Eurobond market for the first time under new...
Telkom Kenya, the third largest mobile phone provider by subscription has announced a partnership with American Tower Corporation for the acquisition of tower masts in Kenya which expands the American company’s hold in Kenya. The two companies announced that they...
British investment fund CDC Group’s Sh14 billion investment in ARM Cement  has dropped to a market value of Sh2.1 billion as investors continue to react to the Nairobi Securities Exchange-listed firm’s financial challenges. The firm’s share price fell to a new...
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...
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