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Fri,17Nov2017

investment

Egypt's EFG Hermes posts loss due to tax on Credit Libanais sale

New headquarters of Egypt-based investment bank EFG-Hermes. Photo©Asmaa WaguihEgypt's EFG Hermes, the country's largest investment bank, posted a second quarter net loss of 67.55 million Egyptian pounds ($7.6 million) due to extraordinary tax charges linked to its sale of shares in Crédit Libanais.

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Energy: Nigeria slump hits $1bn Transcorp power investment

File photo©Andy Wong/AP/SIPANigeria's investment conglomerate Transnational Corp. has shelved plans to build a $1bn gas-fired power plant blaming fuel shortages and a lack of finance caused by the country's economic downturn.

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Cote d'Ivoire aims to double oil and gas output by 2020

Photo©ReutersIvory Coast aims to roughly double oil and gas output by 2020 as it pushes for foreign investment in offshore exploration, the head of state oil and gas company Petroci said on Wednesday.

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Aviation: Fastjet investors block chairman's removal

Colin Child is to remain as Chairman of Fastjet Plc. Photo©FastjetFastjet Plc investors voted to retain Chairman Colin Child, defeating a move by the African budget carrier's second-largest shareholder to force out a second top executive within three months.

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South Africa mine killings raise tensions

Northam Platinum mine chief executive officer Paul Dunne A leading South African trade union has been unsettled by the killing of its members at one of the country's leading platinum mines with the latest murder sparking a job boycott.

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South Africa awaits another ratings assessment amid Gordhan and Zuma tension

President Zuma says the positive response indicates that they realise South Africa is a nation at work. Photo©Ivan Sekretarev/AP/SIPASouth Africa dodged an investment ratings downgrade to "junk status" by Standard & Poor's on Friday but with a new Fitch assessment due later this week, that relief may be shortlived.

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Naspers invests $60 million in online-learning company Udemy

Media and e-commerce group Naspers, the largest listed company in Africa by market value, said on Thursday that it has invested $60 million in U.S. education-technology firm Udemy.

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Africans investing in Africa

Leading the pack – from left to right: Gavin Dalgleish - ILLOVO, Ismaïl Douiri - ATTIJARIWAFA Bank, Ade Ayeyemi - ECOBANK, Tabitha Karanja - Keroche Breweries. Photo©Martin rhodes/Gallo Images/Getty Images; Attijariwafa; Guilhem Alandry Documentography for JA; Noor Khamis/ReutersAfter a day and a half of high-level discussions at an Africa investment conference, Arnold Ekpe, non-executive chairman of financial services holding firm Atlas Mara and former chief executive of Ecobank, sounds slightly exasperated. "African countries are not doing enough for themselves," he says. "I have been going to conferences like this for 20 years. We have to move from talk to action."

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Mining: AngloGold's Ghana mine partner, Randgold requires investment deal for Obuasi

Africa's top gold producer AngloGold Ashanti said on Wednesday that it would not look for a new joint venture partner for its Obuasi mine in Ghana until it had an investment agreement with the government.

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Liberia to slash 2015-16 budget spending

President Ellen Johnson Sirleaf says Liberia will be unable to meet the targeted level of public sector investment. Photo©ReutersLiberia expects to slash spending in the current 2015-16 budget by 11 percent due to a slowdown of its mining sector, resulting in a reduction in public sector investment, President Ellen Johnson Sirleaf said on Monday.

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Foreign investment in Mauritius falls 29 pct in first 9 months

Ken Poonoosamy, managing director of the state-run Board of InvestmentForeign direct investment in Mauritius fell 29 percent to 7.21 billion rupees ($200 million) in the nine months to September, official data showed on Tuesday.

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Kenya's tea agency signs $55 million deal to build small hydro dams

The Kenya Tea Development Agency has signed a $55 million syndicated loan to build seven small hydro-dams to cut reliance on the national grid and trim factory costs, the KTDA said on Thursday.

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Tanzania: Waiting for sweet salvation

Photos© Noor KhamisThe government's partnership with Swedish company EcoEnergy was touted as a flagship for foreign investment. NGOs say it is a land grab. Caught in the middle for the past four years are the farmers due compensation

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Angola Country Profile 2015: The oil-barrel blues

altThe government, run by the Movimento Popular de Libertação de Angola (MPLA), is focused on dealing with lower levels of oil production and a dropping oil price.

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Mauritius Country Profile 2015: High income, here we come

Flag Mauritius

Rolls suggest that the new coalition of Prime Minister Navin Ramgoolam's Labour Party and Paul Bérenger's Mouvement Militant Mauricien (MMM) is guaranteed to dominate the next elections, which are expected to take place early in 2015.

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Mozambique Country Profile 2015: New man, same party, fresh challenges

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Managing resource wealth from the energy sector and a more politically divided country in the aftermath of a rebellion by the Resistência Nacional de Moçambicana (Renamo) party will dominate events in 2015.

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Namibia Country Profile 2015: SWAPO's clean sweep

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Hage Geingob, the incumbent prime minister and ruling South West African People's Organisation (SWAPO) vice-president, was firmly confident of election as Namibia's first non-northern and non-Oshiwambo president on 29 November 2014.

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Zambia Country Profile 2015: Sata's uncertain legacy

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A tough baptism awaits the late President Michael Chilufya Sata's successor after presidential elections due in January 2015.

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Zimbabwe Country Profile 2015: Desperation leads to Russian roulette

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The year 2015 is unlikely to hold major improvements to the weak Zimbabwean economy.

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Sao Tomé e Principe Country Profile 2015: A triumph for Trovoada

altAmidst the habitual party fragmentation and vote-buying, Patrice Trovoada's Acção Democrática Independente (ADI) won an unexpected absolute majority in legislative elections on 12 October 2014, increasing the ADI's share from 26 to 33 of the 55 seats.

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