Get your slice of the U.S $45 Billion World Bank pie
The World Bank has urged South African companies to stake a claim to the $45 billion that the group has set aside for projects on the African continent. Speaking at a seminar on doing business with the World Bank on Friday, Executive Director of the World Bank Group representing Angola, Nigeria and South Africa, Bongi Kunene, urged local companies to make use of opportunities presented by the group.
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Nigerian firm to invest in Ghanaian port project
A Nigerian firm, ARM-Harith Infrastructure Investment Limited, the manager of the ARM-Harith Infrastructure Fund has said it will partner other investors to provide equity capital for Prime Meridian Docks Ghana Limited. The ARMHIIL’s Accra-based Investment Director, Ernest Nyarko, said, “Another plus for us with this project is that its location in Takoradi is reasonably close to Aboadze where ARMHIF is an equity investor in the Amandi IPP, a l 92.4MW greenfield power generation plant that is currently under construction and scheduled to deliver power for supply in 2019.
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Official Launch of Nepad's 5 Percent Agenda Initiative for Infrastructure Financing in Africa
The New Partnership for Africa's Development (NEPAD) - African Union's economic development programme - gathered international investors and CEO-level business leaders at the NASDAQ Stock Market today, 18th September, for the launch of its 5% Agenda campaign. According to the World Bank, the continent needs to spend $93 billion annually (44% for energy; 23% for water and sanitation; 20% for transport; 10% for ICTs; and 3% for irrigation) until 2020 to bridge its infrastructure gap, which is currently removing an estimated 2% of GDP growth every year.
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Caterpillar launches BBBEE investment programme
The Minister of Trade and Industry, Dr Rob Davies will deliver a keynote address at the launch of mining and construction equipment manufacturer, Caterpillar’s Southern Africa’s Broad-Based Black Economic Empowerment (B-BBEE) Equity Equivalent Investment Programme (EEIP). “The programme is expected to contribute towards the achievement of enterprise creation and supplier development, foreign direct investment, accelerated growth and development of black rural women and youth, sustainable growth and development, human development with a focus on education and skills development, and infrastructure investment with an emphasis on developing the country’s research and development infrastructure,” says Davies.
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Africa50 to issue up to sh324b to private projects
In 2016, Alain Ebobissé was appointed Chief Executive Officer Africa50, a Pan-African infrastructure investment platform capitalized by the African Development Bank, and about 25 African countries and two African Central Banks. The former Global Head for the World Bank Group’s Global Infrastructure Project Development Fund (“IFC InfraVentures”) spoke to our reporter about the progress of Africa50, and how the private and public sectors in Uganda can benefit and contribute to the initiative.
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Gulf states to explore opportunities at Africa investment conference
More than 400 decision-makers, including government officials and business leaders, will meet in Dubai this week to discuss foreign investment opportunities in Africa during ALN’s (formerly Africa Legal Network) fourth Annual International Conference, “Africa: Bridging the Gulf” on 4-5 October at the Park Hyatt, Dubai, UAE. “The conference comes at an opportune time as new frontier markets are ripe with investment opportunities across the African continent, due to rapid urban growth, a rising middle class and increased globalisation".
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East Africa Metals enters MoU for US$250 million to finance projects
In addition the deal between East Africa Metals and Luck Winner Investment includes a private placement of 52 100 000 units at a price of $0.26 per unit for aggregate gross proceeds of approximately C$13 550 000. Luck Winner Investment has also agreed to provide an unsecured loan to East Africa Metals in the amount of C$2 000 000.
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Capitalworks launches $300m sub-Saharan Africa investment company
Independent alternative asset manager Capitalworks Group has launched Africa Capitalworks, an investment company that will deploy permanent equity capital in midmarket companies in strategically selected sectors across sub-Saharan Africa, but excluding South Africa.
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