September 30, 2011

Capital raising

Ethiopia plans more bonds for $4.7bn hydropower dam

Ethiopia has raised Birr 7 billion ($408 million) of debt to finance the $4.8 bn Grand Ethiopian Renaissance Dam on the Blue Nile River, and plans to issue more bonds to raise the finance domestically.

Other Countries

Chinese hunt Africa mine bargains

FT Tilt highlights a swift move by state-backed Chinese company Minmetals Resources (MMR) to acquire upstream mining assets, offering $1.25bn for Toronto-listed Anvil Mining. It is a trend of Chinese companies hunting African mines during current volatility.