Author: Cedric Tossa

South Sudan Oil Minister Ezekiel Lol Gatkuoth Visited Abdallah Mubarak Al-Khalifa, Acting CEO of the Qatar National Bank (QNB) in Doha, to discuss the need for continued recovery efforts oilfield production. “Qatar is a friend of Southern Sudan, and Qatar National Bank in particular, has been a true partner in our early years of independence. We look forward to continuing this relationship as our prospects improve and our economy grows, “he said. Indeed, the country has resumed production on oil fields including Unity in 2019 and aims to increase oil production to 500,000 barrels per day. He wanted the bank’s…

Equity Bank, a Kenyan banking group, announced Tuesday, March 26, a pre-tax profit of 28.5 billion shillings, the equivalent of 282.74 million USD in 2018, an increase of 6% over 2017. This increase is mainly driven by the increase in interest income. James Mwangi, the bank’s chief executive, said at a news conference that “this is the type of resilient growth we are seeking to overcome the slowdown in private sector credit growth.” Loans to customers amounted to 297.2 billion shillings in the past year, compared with 279.1 billion shillings in 2017, while deposits grew by 13 percent to 422.8…

In a report released on March 16, 2019, the African Venture Capital and Venture Capital Association (AVCA) reports that private equity firms in Africa invest $ 3.5 billion in 2018, against 3.9 billion in 2017. This amount brings the total value of investments made by them made on the continent between 2013 and 2018, to 25.7 billion USD. The figures are down $ 0.4 billion year-on-year. The companies concerned carried out 186 transactions compared to 171 in 2017, bringing the transactions to 1,022 between 2013 and 2018. The divestiture of participations to industrial buyers (trade buyers) represents 39% of the…

Benin is preparing for the launch of a bond issue on the international debt market. The operation will be, for the country, the first incursion on the bond markets outside the WAEMU zone. According to information, Cotonou will try to mobilize more than 9,000 billion CFA francs, the equivalent of 13.8 billion euros for the implementation of its action program. The precise amount of the transaction is not yet known, but it will be denominated in euros and will have a maximum maturity of 8 years, according to sources quoted by the press. With a GDP debt ratio estimated at…

It is an investment estimated at 100 million USD that the Dutch group Heineken announced to have realized to have its first brewery in Mozambique. The infrastructure was inaugurated this Wednesday, March 13 in the province of Maputo, between the districts of Marracuene and Manhiça. With a production capacity of 0.8 million hectoliters, the structure already has 200 employees, 96% of whom are Mozambicans. “We strongly believe in Mozambique’s potential. The population is young and dynamic, and increasingly urbanized, the middle class is growing, the economic prospects are encouraging and the beer market has great potential for growth, “commented Jean-François…

In Zimbabwe, the Hwange Thermal Power Plant was funded by India for USD 333 million. This line of credit will be used to increase the capacity and lifespan of the infrastructure and to rehabilitate the Bulawayo infrastructure. In the details, the upgrades are expected to increase the life of the Hwange power plant from approximately 15 to 20 years. The increase in capacity will cost $ 310 million. The remaining 23 million will allow the rehabilitation of the Bulawayo power station, the country’s second largest city. Note that last December, Zimbabwe released $ 199 million in funding for the extension…

Absa Bank, the 3rd largest banking group on the African continent, announced that it had made a profit of R16.13 billion for the year 2018, or about 993 million euros. Compared with 2017, this figure represents a 3% increase. The loan loss ratio went from 0.87% to 0.73%, and turnover increased by 4% to R75.66 billion. All indicators have enabled the bank to announce to its shareholders dividends up 4% over the year 2017, at 11.10 rand per share. Note that the British Barclays has withdrawn from Absa Bank, which has not been without consequences on its indicators. The historical…

To raise 80 million USD and finance its development projects, the Angolan government has ceded to private, seven public companies in the industrial area of ​​Lunada-Bengo. In fact, Gilberto Luther, the director of the Angolan State Asset Management Institute (IGAPE), announced last week the privatization of these companies belonging to the 52 industrial units installed in the Luanda-Beng Special Economic Zone. . They should be sold for between $ 3 million and $ 18 million each, depending on the value of the assets sold. It should be noted that the privatization should be done through a public call for tender…

Immorente Invest, a Moroccan firm specializing in the management of real estate assets for rental, plans acquisitions ranging from 150 to 200 million dirhams during this year 2019. Indeed, during the previous year, the firm managed to mobilize 400 million dirhams on the stock market and invested nearly 179 million. Its net profit rose from 5.5 billion dirhams at the end of 2017 to 14.2 billion dirhams at the end of 2018, according to figures presented by the first stone-paper vehicle listed on the Casablanca Stock Exchange. “By 2019, we should acquire real estate assets to expand our fleet for…

The South African firm InvestSure will benefit from an investment of 9.6 million rand mobilized by 4Di Capital of Lireas Holdings and Compass Insure, two subsidiaries of the insurance company Hannover Re Africa. This funding will allow the firm to expand its investor protection services on the stock market and also infiltrate new markets. According to Anton van Vlaanderen, a partner at 4Di Capital, “InvestSure has developed a unique, up-to-date and relevant offer on the market. This investment confirms our commitment to innovation in the insurance industry. ” 4Di Capital is a venture capital firm focused on high-growth technology companies.

The Emerging Africa Infrastructure Fund (EAIF) provided a USD 27 million loan to Kikagati Power Company, a Ugandan company specializing in the energy sector. This investment vehicle is managed by South African Investec Asset Management, which operates in the United Kingdom and South Africa. According to information, this loan will finance the construction of a hydroelectric plant in a border of Uganda and Tanzania, and will be repaid over a period of 16 years. Created in 1991, the South African Investec Asset Management provides services to investment companies, group investment vehicles, pension and profit-sharing plans, charities, national and municipal government…

Small businesses set up by Africans will receive 50 million rand, or about 3.6 million USD from Spartan SME Finance, a South African firm. These funds will strengthen the capital and short-term financing needs of these SMEs. “It is essential to make available the financial resources that will contribute to the sustainability and growth of South African small and medium-sized enterprises,” said Spartan SME Finance CEO Kumaran Padayachee, whose structure did not reveal the interest rate and the repayment period of these credits. Since its inception in 1981, Spartan SME Finance is headquartered in Johannesburg, and provides IT leasing solutions…

A total of 68 Moroccan startups benefited from the financing of the Innov Invest fund for a value of 46.3 million dirhams, or approximately 4.8 million between October 2017 and March 2019 according to a statement from the Central Guarantee Fund (CCG). Nearly 92% of these companies obtained pre-start-up and seed funding amounting to 12.3 million dirhams. The remaining 34 million were allocated as venture capital to six innovative startups. Launched in October 2017, the Innov Invest fund aims to fund at least 300 innovative projects by 2022. In July 2018, a total of 12 startups benefited from 3 million…

National Bank of Egypt Vice President Yehia Abul Fotouh announced last week that the bank plans to finance infrastructure projects worth 180 billion Egyptian pounds, or about 10 billion USD between 2019 and 2021. This funding will cover loans to companies operating in the petroleum, electricity and mega-projects sectors. “The total portfolio of financing dedicated to infrastructure projects has reached 400 billion Egyptian pounds, and we aim to increase this volume to 580 billion by 2021,” said Yehia Abul Fotouh at a conference Press. Founded in June 1898, the National Bank of Egypt is the oldest and largest bank in…