Citadel Capital’s Rift Valley Railway opens Uganda-S Sudan trade after 20 years
Rift Valley Railways (RVR), a platform company of Egypt’s Citadel Capital, has repaired 500 kilometers of track between Tororo in Eastern Uganda and Gulu in the North, opening north and northwest Uganda South Sudan and eastern Democratic Republic of Congo to rail services after 20 years of disuse and inefficiency.
$183bn of M&A in Africa in last 10 years, Britain leads
The total value of mergers and acquisitions deals in Africa by foreign investors was $183 billion over the ten years 2003-2012, up threefold on the previous decade. Britain was the lead investor with with 437 deals worth $30.5bn.
African Development Bank starts move to Cote d’Ivoire in 2013
Africa’s top lending institution the African Development Bank (AfDB) has announced that it will start moving its headquarters and 1,500 employees from Tunisia to Ivory Coast, with first staff to move this year.
African Development Bank and Commerzbank sign for $100m trade finance
The African Development Bank has signed a USD 100 million agreement with Germany-based Commerzbank AG in which the banks will share the default risk on a portfolio of eligible trade transactions originated by African issuing banks and confirmed by Commerzbank.
Infrastructure needed to celebrate AU’s 50th anniversary
“Unity has no meaning unless it is the ability of the coal miner in Botswana to power a plant in Angola or the farmer in Uganda to export food to those short of food in northern Kenya” says fashion giant Ozwald Boatang on the 50th anniversary of the African Union.
IFC and African Development Bank expand local currency finance
The International Finance Corporation, a member of the World Bank Group, and the African Development Bank are to work together to facilitate local currency lending and bond issuance in Africa. They signed an ISDA Master Agreement for this.
Africa’s top bankers honoured at award ceremony
The best in African banking was celebrated recently at the 6th edition of the African Banker Awards, under the patronage of the African Development Bank and African Banker magazine, in Arusha, Tanzania.
African Development Bank invests $100m to Agvance Africa PE fund of funds
The African Development Bank has approved an equity investment of US$100 million to Agvance Africa, which the bank claims is the first fund of funds focused on African agribusiness.
Tunisia Stock Exchange positive on economic prospects
Share prices on the Tunisian Stock Exchange have been moving ahead all November, starting with a positive reaction to the meeting between Rachid Ghannouchi, leader of the Islamist Ennahda party and stock market executives only days after the election and moving forward as the politics progressed well.
Aureos Africa Health Fund invests $2.5m in Kenya healthcare
Aureos Africa Health Fund invested $2.5 million in a Kenyan hospital and health insurance company, the Avenue Group, which offers affordable healthcare cover, integrated with quality healthcare provision.
Bigger role for African Development Bank, considering move back to Cote d’Ivoire
The African Development Bank is playing its role in Africa with skill and is getting more backing from its principal shareholders because of its successes as an African institution. Moving back to Cote d’Ivoire is also on the agenda.
Tunis Stock Exchange seeks to support growth
The Bourse des Valeurs Mobilières de Tunis (BVMT – Tunis Stock Exchange), aims to support role in faster economic growth and has a 5-point development strategy. A share offer in May was 3.2 times oversubscribed.
Private equity and lenders hop aboard $287m Kenya-Uganda railway
The International Finance Corporation and 6 leading international finance institutions provided $164 million in financing to Rift Valley Railways International to rehabilitate the Kenya-Uganda railway today (2 August).