Emerging Markets Roundup: Africa

ROUNDUP: AFRICA   By Antonio Guerrero   Electricity goes private Nigeria requires annual investments of up to $10 billion to tackle its infrastructure deficit, according to government officials in Abuja. Much of the investment would be focused on meeting the ...

BIGGEST BANKS IN AFRICA 2010

Global Finance ranks the 10 Biggest Banks in Africa NEW YORK, December 6, 2010 — As the world's key emerging markets continue to drive the global economy out of recession, Global Finance unveils its third annual Global Finance 200, the ...

Emerging Markets Roundup: Africa

ROUNDUP   By Antonio Guerrero   Good to go: Tullow resolves dispute over Uganda's oil fields Uganda moved closer to becoming an oil producer after UK-based Tullow Oil reached an agreement with the government over a tax dispute. Tullow, which ...

Emerging Markets Focus: Africa

COVER STORY: SEA CHANGE   By Jonathan Gregson   Africa's economic prospects have never been better.   Fifty years after British prime minister Harold Macmillan spoke of a wind of change sweeping across the African continent, the sort of development ...

Africa’s Lion Awakens

COVER STORY: KENYA – REBIRTH OF A NATION   By Dan Keeler   With a new constitution, bold economic targets and an ambitious social development strategy, Kenya is determined to become the new star of Africa. All the signs so ...

Emerging Markets Roundup: Africa

ROUNDUP   By Antonio Guerrero   Ghana’s mining sector gets a funding boost from China Ghana has become the leading recipient in sub-Saharan Africa of Chinese infrastructure financing, giving China unrivaled access to the country's commodities sector. Ghana signed a ...

Emerging Markets: Africa

Roundup   By Antonio Guerrero   Foreign ownership of mines in Zimbabwe challenged by law Zimbabwe's government is continuing its campaign against foreign ownership, insisting that businesses with assets of more than $500,000 must be 51%-owned by black Zimbabweans within ...

Emerging Markets: Africa

ROUNDUP   By Antonio Guerrero   Uneasy balance: Mugabe (right) and Tsvangirai still have issues with power sharing South Africa's state-owned development lender Industrial Development Corporation (IDC) plans to issue bonds and sell an estimated $3.6 billion worth of its ...

New Partnerships

EM REGIONAL BANKING FOCUS: AFRICA   By Nick Kochan   Africa's banks are looking to forge new links as they seek to expand across the continent.   The African banking industry has emerged from the global financial crisis largely intact ...

Emerging Markets: Africa

ROUNDUP   By Antonio Guerrero   Front right: Corruption fighter Goodluck Jonathan Flushed with confidence after its peaceful referendum on a new constitution, Kenya plans to issue $390 million of infrastructure bonds, the government’s fourth such issue. The bonds will ...

Kenya To Become Green Power Pioneer

KENYA   By Dan Keeler   Kenya’s Olkaria II geothermal plant generates 70MW Kenya’s government is looking for a strategic investor to buy 19% of the country’s principal electricity supplier, the Kenya Electricity Generating Company (KenGen). Eddy Njoroge, KenGen’s managing ...

Emerging Markets: Africa

ROUNDUP   By Antonio Guerrero   The African Development Bank (AfDB), which plans to increase its capital base to $100 billion, launched a $600 million fund to strengthen African banks. The fund was created through a partnership with the European ...

Regional Report: West Africa

REGIONAL REPORT: REGIONAL RESURGENCE   A flurry of bond issues illustrates the growing confidence west Africa’s nations have in their economic and political futures. Nigeria and Côte d’Ivoire are leading the way.   By Nick Kochan   The contrasts in ...

Emerging Markets Roundup: Africa

Roundup   By Antonio Guerrero   South Africa’s central bank: Shareholders to get less control Nigeria has secured a $915 million concessionary loan from the World Bank to help the government fund infrastructure development projects. Funds will be drawn between ...

Emerging Markets: Africa

Roundup   By Antonio Guerrero   Digging deep: Companies mining in Zambia face high taxes The World Bank is asking members to support a controversial $3.75 billion loan to Eskom, South Africa's state-run power utility. The loan would be used ...

Emerging Markets: Africa

Roundup   By Antonio Guerrero   Nigerian central bank’s energy fund has caused controversy South Africa’s $2 billion dollar-denominated sovereign bond issue in March marked the country’s largest-ever foreign-currency-denominated security. The 10-year paper carries a 5.5% coupon, which is the ...