African exchanges link sets 2021 start date

Seven of Africa’s largest securities exchanges are set to have an active link by the first quarter of 2021, according to an article on Bloomberg.com today 30 December. The article quotes Karim Hajji, President of the African Securities Exchanges Association (ASEA) and CEO of Casablanca Stock Exchange. He says the African Exchanges Linkage Project (AELP) […]

IFC raises N$180m bond in Namibia

The International Finance Corporation continues its programme of helping develop African debt markets by launching the first bond by a non-resident issuer in Namibia. It raised NAD 180 million (about $12m) which it will use for private sector development.

New commodity exchange to transform Ghana’s agriculture

A public-private partnership consortium, including the Government of Ghana (as minority), local and international investors, aim to finalize fund-raising for a new Ghana Commodity Exchange (GCX) during April and to build the exchange within 12 months.

African Corporate Governance Network launched

Today (16 Oct) saw the launch of the African Corporate Governance Network in Mauritius,, with Kenya, Malawi, Mauritius, Mozambique, Nigeria, South Africa, Tanzania, Zambia and Zimbabwe.

IFC to issue $50m (NGN8 billion) Naija bond in Nigeria

The International Finance Corporation plans to issue a $50 million (NGN 8 billion) local-currency “Naija” bond in Nigeria to support the domestic capital markets and increase access to local-currency finance. IFC bonds are rated triple-A by Moody’s Investors Service and Standard & Poor’s.

Umeme power company IPO share offer: UPDATE AND CORRECTION

The Initial Public Offer by power company Umeme closed on 7 November and results are expected before the listing on 30 November. Before the close, commentators said there was a turnup of applications and that the International Finance Corporation had invested, but parliamentarians called for an inquiry.

IFC mobilizes $1bn into private infrastructure in Africa

The International Finance Corporation (the private sector investment arm of the World Bank group) will invest and mobilize more than $1 billion into private infrastructure in Africa during 2012, up from $200 million 5 years ago.

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.

IFC invests in bank to bring home mortgages to Burkina Faso

The International Finance Corporation has signed an agreement to invest up to $0.6 million in Banque de l’Habitat du Burkina Faso and will also provide advice. The bank is the first in Burkina Faso dedicated to housing and IFC aims to help strengthen the country’s financial sector and show that mortgage lending is commercially viable.

IFC lists $100 mln Islamic financing instrument in Dubai and Bahrain

This is not strictly an African story, but Islamic finance is a very important for much of Africa.. The International Finance Corporation (IFC – www.ifc.org), a member of the World Bank Group, on 4 November listed its first Islamic long-term financing instrument, a Sukuk. The IFC became the first non-Islamic financial organization to issue a […]