News and developments on African capital markets, includes: African securities, African stock exchanges/stock markets, African equities, African bonds, African private equity/venture capital, and African social impact investment
The International Finance Corporation plans to issue a $50 million (NGN 8 billion) local-currency “Naija” bond in Nigeria to support the domestic capital markets and increase access to local-currency finance. IFC bonds are rated triple-A by Moody’s Investors Service and Standard & Poor’s.
The Initial Public Offer by power company Umeme closed on 7 November and results are expected before the listing on 30 November. Before the close, commentators said there was a turnup of applications and that the International Finance Corporation had invested, but parliamentarians called for an inquiry.
The International Finance Corporation (the private sector investment arm of the World Bank group) will invest and mobilize more than $1 billion into private infrastructure in Africa during 2012, up from $200 million 5 years ago.
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.
The International Finance Corporation (IFC), a member of the World Bank Group, on 20 Dec agreed to invest CAD1,250,000 in nickel and copper exploration through Sama Resources Inc, which will use the funds to advance the Samapleu project in eastern Côte d’Ivoire, near the border with Guinea.
The International Finance Corporation plans to invest up to $700 million in new African telecommunications projects in this year and the next, says Reuters.
A top conference from 17-19 October will be “Investment & Innovation in Microfinance: Africa” (www.microfinance-africa.com), with a great lineup of speakers, investors and MFIs.
The International Finance Corporation has signed an agreement to invest up to $0.6 million in Banque de l’Habitat du Burkina Faso and will also provide advice. The bank is the first in Burkina Faso dedicated to housing and IFC aims to help strengthen the country’s financial sector and show that mortgage lending is commercially viable.