Aureos Closes Africa Health Fund
Posted by Accountancy Africa on Dec 13, 2011 | Leave a Comment
PRESS RELEASE
Aureos Capital Limited (Aureos) has reached a final close of the Africa Health Fund, exceeding its target by raising US$105.4 million from a range of private sector and development finance institutional investors.
The Africa Health Fund is managed by Aureos, a leading private equity fund management company specialising in small and medium sized businesses in emerging markets.
The Africa Health Fund was established...
Stanbic Bank Tanzania ets $85m for Helios Towers Tanzania Ltd
Posted by Accountancy Africa on Dec 07, 2011 | Leave a Comment
From The Citizen
Dar es Salaam. Stanbic Bank Tanzania has successfully secured syndicated financing worth $85 million (about Sh1.44 billion) for Helios Towers Tanzania Ltd (HTT), a subsidiary of Helios Towers Africa Ltd (HTA), for the next phase of its network of telecommunications towers across Tanzania.
The financing attracted strong and broad-based interest from several local and international financial institutions,...
IHS Nigeria Plc to raise N32bn ($198m) for expansion
Posted by Accountancy Africa on Dec 01, 2011 | Leave a Comment
By Michael Eboh & Favour Agbi, Vanguard
Telecommunication infrastructure provider, IHS Nigeria Plc has announced plans to raise about N32 billion ($200 million) from the capital market to finance its expansion across the African continent within the next one year.
The company is also considering a secondary listing on an overseas stock exchange in addition to its current listing on the Nigerian Stock Exchange, NSE.
To...
Citadel Capital’s new financing
Posted by Accountancy Africa on Nov 28, 2011 | Leave a Comment
By Cosmas Butunyi, The East African
It is a season of harvest for private equity player Citadel Capital. Weeks after a fully subscribed rights issue, the firm’s plan to raise even more finances from the US has received crucial approval.
Citadel Capital recently announced that the board of the US Overseas Private Investment Corporation (OPIC) had given the nod to a $150 million facility that it had applied for. Together...
East African Breweries (EABL) rules out rights issue to finance Kenya Breweries purchase
Posted by Accountancy Africa on Nov 16, 2011 | Leave a Comment
By John Gachiri, Business Daily Africa
East African Breweries (EABL) has ruled out selling any extra shares to finance the re-purchase of a 20 per cent stake of Kenya Breweries (KBL) from South African beer maker SABMiller.
The brewer said it “has access to several sources of funding and is currently finalising (financing) arrangements.”
“Any claims that EABL will be funding the acquisition by way of rights issue...
JSE: Bond markets need more transparency
Posted by Accountancy Africa on Nov 16, 2011 | Leave a Comment
From fin24
A lot more transparency is needed in the interest rate markets considering the importance they have for governments to raise money, says Johannesburg Stock Exchange (JSE) deputy CEO Nicky Newton-King.
Presenting before Parliament’s Select Committee on Finance on Wednesday, Newton-King said that most interest rate instruments, that included government bonds, were traded over the counter.
“There has...
Nova Capital Global Markets Introduces African Focused Equities Research
Posted by Accountancy Africa on Nov 12, 2011 | Leave a Comment
From Business Wire
Nova Capital Equity Research (NCER), a subsidiary of Nova Capital Global Markets, announces the launch of its African Equities Research product today. NCER is an independent equities research platform that will provide hedge funds, money managers, private equity firms, and multinational corporations with proprietary African-focused market intelligence and thought leadership.
NCER’s multi-layered...
Africa rush boosts private equity
Posted by Accountancy Africa on Nov 08, 2011 | Leave a Comment
Sure Kamhunga, Businessday
GLOBAL consultancy firm Grant Thornton has predicted a wave of private equity deals in SA over the next three years as investors are driven by a “gold rush” mentality to buy assets in emerging markets.
The firm says in a survey just released that the interest in SA and other emerging markets comes on renewed appetite for global private equity deals as investors throw caution...
Deap Capital Gets $150m Funding from US Firm
Posted by Accountancy Africa on Oct 10, 2011 | Leave a Comment
By Goddy Egene, This Day Live
The plans by Deap Capital Management and Trust Plc (Deap), to transform into a merchant bank have received a boost as Discoverpoint Holdings, a private equity holding company based in New York, United States, is set to inject $150 million capital into the Nigerian firm.
Deap, an investment management and financial services group, was the first firm to be listed under the Other...
How mobile banking promotes financial engagement in Nigeria
Posted by Accountancy Africa on Jul 20, 2011 | Leave a Comment
Mobile banking , however has been identified as a feasible tool to provide basic financial services to millions of the unbanked in urban and rural communities in Africa as about 67% of Nigeria’s adult population are unbanked, but using the mobile banking system through cell phnoes and is now a booming industry, experts revealed at the recently concluded Unbanked Africa Summit held in Lagos last week. Most of the Nigerian...
Sterling Bank, First Rand Merger Talks Gain Ground
Posted by Accountancy Africa on Apr 14, 2011 | 1 Comment
By Obinna Chima, This Day Live
The talks between Sterling Bank Plc and FirstRand, the second biggest bank in South Africa about the latter making a strategic investment in the former has reached an advanced stage, Reuters said Wednesday.
Reuters quoted Sterling Bank’s Financial Controller, Adebimpe Olambiwonnu, to have made this remark on CNBC Africa television.
Olambiwonnu said: “Injecting more capital into...
Brazil’s Vale to acquire African copper, cobalt producer Metorex
Posted by Accountancy Africa on Apr 09, 2011 | Leave a Comment
From Platts
Brazilian mining group Vale has agreed to acquire, through a wholly owned subsidiary, the total share capital of South Africa-listed copper and cobalt producer Metorex, Vale said Friday.
The acquisition price is Rand 7.35/share on the Johannesburg Stock Exchange, totaling Rand 7.524 billion on a fully diluted basis, and equivalent to $1.125 billion at the last closing dollar/rand exchange rate, to be paid...
SA deals boost takeover activity in Africa, Mideast to record
Posted by Accountancy Africa on Jan 08, 2011 | Leave a Comment
By SureKamhunga, Businessday -
Investor activity in Africa is rising in line with renewed interest in emerging markets and another year of frenetic activity is expected
MULTIBILLION-rand deals that involved South African companies boosted the value of mergers and acquisitions in Africa and the Middle East last year to their highest level by value since 2007.
Deals worth more than $49bn were concluded in the region,...
EMERGING CAPITAL PARTNERS CLOSES AFRICA FUND III AT $613 MILLION
Posted by Accountancy Africa on Aug 05, 2010 | 1 Comment
Africa-investor.com -
Largest growth equity fund focused on investing in Pan-Africa
WASHINGTON, D.C. – July 25, 2010 – Emerging Capital Partners (ECP), an international private equity firm focused on investing across the African continent, announced today the final close of its ECP Africa Fund III PCC (Africa Fund III) with total commitments of over $613 million. Africa Fund III, one of the largest funds...
Sillenger Signs Mineral and Hydrocarbon Exploration Contract With Government of Equatorial Guinea to Develop Country’s Natural Resources
Posted by Accountancy Africa on Jun 03, 2010 | Leave a Comment
Press Release
VANCOUVER, BRITISH COLUMBIA – (Marketwire – June 2, 2010) – Sillenger Exploration Corp. (“Sillenger”) (OTCQB:SLGX)(OTCBB:SLGX), an innovative and progressive mineral exploration and claims management company, with experience in mining and business process management in Africa and other regions of the world, is pleased to announce that, through its relationship with FCMI Global Inc. and its...
Gold Fields secures new loan facility
Posted by Accountancy Africa on May 26, 2010 | Leave a Comment
Gold Fields Limited (Gold Fields) (JSE, NYSE, NASDAQ Dubai: GFI) today announced that it has secured a US$450 million revolving credit loan maturing 30 September 2013 to refinance a US$311 million one-year facility that expired in May 2010. Gold Fields was seeking a minimum of US$300 million from the banks approached to support the revolving credit loan.
The new facility, agreed by Gold Fields with a “club”...
Sigma play would give Aspen top spot
Posted by Accountancy Africa on May 24, 2010 | Leave a Comment
By ELI GREENBLAT, The Sydney Morning Herald –
AFRICA’S biggest drug maker, Aspen Pharmacare, has made a $707 million takeover bid for Sigma Pharmaceuticals. If the bid is successful, it would become Australia’s biggest prescription drug supplier, with more than one in 10 scripts potentially filled by an Aspen product.
A successful merger would deliver Aspen a commanding 12 per cent share of the...
Team picked to audit sale of Zain Kenya
Posted by Accountancy Africa on May 20, 2010 | Leave a Comment
Information and communications Permanent Secretary Bitange Ndemo at a past function.
By JOSEPH BONYO, Daily Nation
The sale of Zain’s operations in Kenya ahead of its official takeover by Indian firm Bharti Airtel is being audited.
The Indian company paid $9 billion for the mobile operator’s businesses in Africa.
A taskforce has been formed to scrutinise the transaction and establish whether it met government...
GE secures R500m Eskom deal
Posted by Accountancy Africa on May 20, 2010 | Leave a Comment
By ZWELI MOKGATA, Times Live
US multinational company General Electric has secured a R500-million Eskom contract, the company said yesterday.
GE South Africa, which is a wholly-owned subsidiary of the world’s largest company (according to Forbes magazine), The General Electric Company, said it would be the switchgear supplier for the R125-billion Medupi power station.
Medupi, part of Eskom’s R385-million building...
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