News International

Fri,06Mar2015

International

Innovative finance for Africa's new big projects

File photo©ReutersInnovative bankrolling is gaining popularity and raising high hopes. African countries are increasingly exploring novel ways to finance their massive infrastructure projects. The Grand Renaissance Ethiopian Dam, a $4.8 billion project, is reportedly being built without money from traditional donors.

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Africa's electronic transactions grow as card services join mobile market

Photo©ReutersElectronic payment service companies, Visa and MasterCard have launched card services aimed at Africa's growing mobile payment industry.

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Mining: China's Shandong seeks control of Sierra Leone iron ore project

File photo©ReutersAfrican Minerals said China's Shandong, its partner in the Tonkolili iron ore mine in Sierra Leone, is seeking control of the whole project, after taking on some of African Minerals' debt from banks and demanding immediate repayment last week.

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Banking: Barclays eyes Nigeria licence as it reports higher full year earnings in Africa

Barclays Africa Group has applied for a Nigerian banking licence and wants to take over the Egypt and Zimbabwe units still ran by its parent company, it said on Tuesday after reporting higher profits.

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Manufacturing: France's CEMOI to open chocolate factory in Cote d'Ivoire

Photo©ReutersFrench chocolate maker CEMOI plans to open a factory in Ivory Coast in May to target the local and West African market, a company official said on Monday.

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China's Shandong calls in African Minerals debt

African Minerals said on Friday its Chinese partner in its sole asset, the Tonkolili iron ore project in Sierra Leone, has taken on some of its multi-million dollar debt and is demanding repayment.

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