December 3, 2010

Funds

$55 bn of private capital flows to Africa in 2010

According to a top economist of the World Bank, a total of $55 billion of private capital is estimated to be flowing into Africa this year, reports newsagency Reuters. No figures are given for 2008 and 2009, but the flows in 2007 were $49 bn.

Kenya

Safaricom offers $56 million bond

Telecoms giant Safaricom Ltd., a mobile phone company that is the biggest listing by market capitalization on the Nairobi Stock Exchange, is selling KSh 4.49 billion shillings ($56 million) of 5-year bonds from 1 Dec, according a report on Bloomberg.

Kenya

PTA Bank launched $300 million eurobond

PTA Bank, a multilateral financial institution based in Nairobi, successfully launched a US$300 million Eurobond in November. According to a press release from Standard Bank, this was the only corporate Eurobond from sub-Saharan Africa in 2010, the only one since 2007 and the first Eurobond from an east African issuer, either sovereign or corporate.