Other news

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.

Other news

Orders for AfDB bond top $1.5 billion

The African Development Bank on 30 September reported orders for over US$1.5 billion for its recent $1 bln benchmark global bond issue in the international market.

Other news

African Development Bank wants more funds for African recovery

The African Development Bank Group (www.afdb.org) is urging the G-20 Summit to increase its resources, to help Africa recover. Meanwhile IFR Markets news service says the bank plans a $1 billion 3-year global bond issue.

Capital raising

Private equity $25 mln for East African media and telecoms

Emerging Capital Partners (ECP) announced on 22 September it has committed $25 million to Wananchi Group Holdings

Capital raising

$8 bn for African ICT

US$8 billion was invested in developing Information and Communications Technology (ICT) in Africa in 2008, according to the Secretary-General of International Telecommunications Union (ITU).

Exchange news

Innovation and trading boom on Africa’s biggest exchange

Trading soared 31% in number of deals on the JSE Ltd (South Africa’s Johannesburg Stock Exchange) and the merger with teh Bond Exchange of South Africa was finalized, promising dynamic new growth in the South African interest-rate market.

Capital raising

Kengen issues $197 mln bond for 500 MW more electricity

The Kenya Electricity Generating Company (KenGen) has received regulatory approval from the Capital Markets Authority for a corporate bond with a nominal value (face value) of KSh15 billion (US $196.8 mln). The offer is open from 8-29 September.

Exchange news

Gold Exchange-Traded Fund targets Botswana SE

Absa Capital wants to dual list its NewGold Gold Bullion Debentures Exchange Traded Fund on the Botswana Stock Exchange (BSE).

Exchange news

More action on Kenya’s bond market

Bonds are becoming increasingly active in Kenya, and the bond market at the Nairobi Stock Exchange (NSE) is proving a good place to raise medium- …

Other news

Introducing the blog

This blog aims to provide news of developments in Africa’s capital markets, including the stock and securities exchanges and venture capital markets.