$183bn of M&A in Africa in last 10 years, Britain leads

The total value of mergers and acquisitions deals in Africa by foreign investors was $183 billion over the ten years 2003-2012, up threefold on the previous decade. Britain was the lead investor with with 437 deals worth $30.5bn.

IFC invests in Côte d’Ivoire’s mining through Sama Resources

The International Finance Corporation (IFC), a member of the World Bank Group, on 20 Dec agreed to invest CAD1,250,000 in nickel and copper exploration through Sama Resources Inc, which will use the funds to advance the Samapleu project in eastern Côte d’Ivoire, near the border with Guinea.

Bonds soar, cocoa prices fall as CI rebels advance fast

Rebels in Cote d’Ivoire made rapid advances towards Abidjan yesterday (30 March), where fighting could be fierce. Prices rallied yesterday on the €2.3 Eurobond and Bloomberg reported a 7% climb to 42.688 cents in the dollar nominal value, while cocoa prices fell $70.

Cote d’Ivoire defaults on $2.3bn Eurobonds

Cote d’Ivoire has formally reneged on $2.3 billion of Eurobonds, becoming the first nation to default since Jamaica in January 2010. The default comes after it was unable to pay $29 million of interest which had become due and after a 30-day grace period had expired. However, the market appears to have faith the crisis will eventually end.