South African telecoms firm MTN has converted its Nigerian unit into a public company before its planned listing on the Nigerian bourse in the first half of the year. MTN Nigeria said on Wednesday the conversion was a legal requirement to prepare for the listing and it was engaging with...
Nigerian Oil Minister Emmanuel Kachikwu and the president of Saudi Aramco have discussed investment options in the mid and downstream sector, Nigeria's petroleum ministry said on Wednesday in a tweet. Aramco is expanding downstream operations such as refining and petrochemicals production as part of its drive to become the world's...
In what is expected to be the biggest flotations on the Gaborone bourse, billionaire businessman and founder of the Econet Wireless Group, Strive Masiyiwa, plans to list a part of his Botswana telecoms operator, Mascom, by October this year, Masiyiwa, through his holding company Econet, is finalising a $300...
Rating agency Moody’s has upgraded Egypt’s sovereign rating, saying ongoing economic reforms will help improve its fiscal position and boost economic growth. Moody’s upgraded the long-term foreign and local currency issuer ratings of Egypt to B2 from B3. The outlook was changed to stable from positive. The decision was based...
West African country, Liberia has signed an outline deal with a new venture set up to mine iron ore in Guinea to be shipped via Liberia, an export route the Guinean government has vetoed for years for the much larger Simandou project. The Liberian government and Niron Metals signed the...
Ivanka Trump, President Donald Trump’s daughter, and the acting head of the Overseas Private Investment Corporation (OPIC), David Bohigian, have announced that the U.S. government agency plans to invest hundreds of millions of dollars in businesses that empower women in Africa. Speaking in Ethiopia, a statement from OPIC says the...
Islamic Development Bank (IsDB) has started marketing a five-year dollar sukuk, or Islamic bond, a document issued by one of the banks showed. The Jeddah-based triple A-rated institution gave initial price guidance in the high 40 basis points over mid swaps area, the document showed. ISDB has appointed Credit Agricole...
The Group Executive Director, Strategy, Portfolio Development and Capital Projects, Dangote Industries Limited, Mr. Devakumar Edwin has disclosed that the coming on stream of the Dangote Refinery and Petrochemicals will go a long way in bringing the much-desired resolution to the unemployment crisis in the nation as the company...
South Africa's rand held on to its gains in early trade on Thursday amid grim forecasts for the global economy as both the U.S. and Eurozone Central Banks kept a firm dovish stance, pushing the dollar near two-week lows. The rand had strengthened by 0.32 percent to 13.8775 to...
Zimbabwe has reached agreement with the International Monetary Fund (IMF) on a programme of economic policies and structural reforms that could pave the way to the crisis-hit country re-engaging with international financial institutions. Suffering from decades of decline and hyperinflation, Zimbabwe has not been able to borrow from international lenders...