Other news

Exchange news

Wilderness Safaris public offer aims for BSE and JSE Africa Board

Conservation tourism pioneer Wilderness Safaris is aiming for a primary listing on the Botswana Stock Exchange (www.bse.co.bw) and a simultaneous secondary listing on the Johannesburg Stock Exchange’s Africa Board on 8 April. The company’s Botswana and South Africa share offers are set to close on 26 March.

Other news

Marketplace for Innovative Financial Solutions for Development

A Marketplace on Innovative Financial Solutions for Development (www.fininnov.org) is to be held in Paris on March 4-5, 2010. It is dedicated to innovative financial mechanisms for better mobilizing, channelling, and using funds and aims to collect and highlight fresh ideas on financial solutions for development at global, regional and local levels.

Capital raising

Kenya: First steps for privatization of Consolidated Bank

The Kenyan Government’s Privatisation Commission is taking the next step towards selling a portion of Consolidated Bank of Kenya Ltd by appointing PricewaterhouseCoopers as transaction advisers. It is on the list of 23 State-owned enterprises to be privatized.

Capital raising

$10.7 bln deal for African telecoms

Telecoms have attracted some of Africa’s biggest and most lucrative equity deals and the 14 Feb sale of $10.7 billion of telecom assets further indicates the rising power from the East, this time India.

Other news

AfDB raises $1 billion, agrees to 200% general capital increase

The regional governors of the African Development Bank (www.afdb.org) have unanimously backed a bank proposal to increase the general capital. According to a communiqué issued at the end of the 12 February meeting: a “200% increase would allow the Bank to serve client countries and entities within them.” The bank also recently successfully issued a $1 billion bond.

Capital raising

Government agencies get together to promote investment

The Commonwealth Business Council has a top lineup for its Africa Investment Forum, due to be held from 8-10 February in Accra, Ghana in conjunction with Ghana Investment Promotion Center (GIPC)

Capital raising

Big plans for Rwanda capital market, including first local public offer

The Rwandan capital markets are set for growth in 2010, including plans for a first local initial public offer (IPO) and developing the Rwandan stock exchange. In an interview with East Africa Business Week, the Executive Director of the Rwanda Capital Market Advisory Council Mr. Robert Mathu outlined what to expect.

Exchange news

New bond listing on Rwanda’s capital market

The capital market in Rwanda took another step forward with the listing on 22 January of a new Rwf2.5 billion (US$4.4 mln) two-year Treasury bond on the Rwanda Over The Counter (ROTC) exchange. According to the issuer, the National Bank of Rwanda (BNR), the bond has a 9.5% coupon rate.

Funds

Africa Health Fund makes first investment

The Africa Health Fund, managed by private equity fund manager Aureos Capital has made its first investment, acquiring a stake in the Nairobi Women’s Hospital for US$2.66 million. This is the first investment by the fund which was launched in June 2009 and aims to raise $100 million, with a final close this year (2010).

Capital raising

Agri-Vie fund close to $100 million target, finding projects

Agricultural private equity fund Agri-Vie will reach its target of raising $100 million for investment in agricultural projects by February or March, according to an interview with Reuters. It says there is plenty of potential and plans a second fund of up to $300 million. Earlier in January the fund made 2 investments totalling $10 mln in 2 agricultural projects in Ethiopia and across the region, and it is close to finalizing a $4 mln investment in Tanzania.

Capital raising

Multi-Asset exchange for Africa?

The Global Board Of Trade Ltd. says in March it will open an African multi-asset exchange in Mauritius that will be able to trade a basket of commodity and currencies derivatives and could later add trading in debt and equity products.

Kenya

First African carbon credit scheme since Copenhagen

South Africa’s Nedbank has announced an agreement with international non-governmental organisation Wildlife Works Incorporated to launch an African carbon credit scheme.

Capital raising

Privatization of Nairobi Stock Exchange

Kenya is considering speeding up plans to privatize the Nairobi Stock Exchange (www.nse.co.ke), the biggest market in East Africa. The aim is initially that stockbrokers …

Other news

Support for Farmers to Access Weather and Disasters Insurance

A Global Index Insurance Facility has been launched as an insurance scheme to help compensate for certain catastrophic events, depending on their severity. The GIIF is supported by the International Finance Corporation, the EU and the Netherlands Ministry of Foreign Affairs.

Kenya

Kengen Bond launches Automated Trading in Nairobi

KenGen’s KSh25 billion (US$336 million) bond launched the Automated Trading System (ATS) of the Nairobi Stock Exchange (NSE – www.nse.co.ke) on 9 November.

Capital raising

Africa scores in new $750 million infrastructure fund

Africa will have a large role in US$750m Actis Infrastructure 2 fund, which closed on 6 October. The pan-emerging markets fund focuses on power generation and transport.

Capital raising

IFC invests $100 million in Nigerian telecommunications

The International Finance Corporation (www.ifc.org), a member of the World Bank Group, is investing $100 million into bringing the benefits of better telecommunications to many Nigerians via Helios Towers Nigeria Ltd.

Exchange news

Bill to regulate Rwanda’s capital market

A bill to regulate the capital markets and collective investment schemes was tabled in the Rwandan Parliament last week.

Kenya

African bonds roundup

Absa Capital, the investment banking arm of Absa Group, plans to work in a range of African debt markets, particularly in countries where Barclays Bank is active. New bonds are being issued in Namibia, Kenya and Uganda.

Exchange news

Bond issues for PTA Bank and Nigeria’s UBA Bank

New bond issues are springing across Africa, including Kenya’s Kengen issue for more power generation which closed on 29 September, and bank issues in Nigeria and Uganda.