Nigeria and Zambia joining African rush into bonds

Africa needs to spend $93 billion a year on power, transport and water projects over the next decade to lift growth in the world’s poorest continent. Bloomberg news agency reports that Nigeria appointed Barclays Capital in October as an adviser for a planned $500 million Eurobond to support government spending. Zambia plans to raise $1 billion on the back of a planned sovereign credit rating this year

Standard Bank to lend $100 mln to farmers in 4 African countries

South Africa’s Standard Bank will provide $100 million as credit to up to 750,000 farmers in 4 African countries in the next 3 years, according to an interview given by Clive Tasker, CEO for Africa, to Reuters newsagency. The bank is to offer the credit in Uganda, Ghana, Mozambique and Tanzania to help boost agricultural production and economic growth.

New CEO for Dar Es Salaam stock exchange

A new CEO started work at the Dar es Salaam Stock Exchange (www.dse.co.tz) and share prices surged in the following days, although market participants denied any connection with the appointment.

Boost for $55 mln E African start-up/SME fund

A new fund is making good progress in raising up to US$55 million to be invested in business start-ups and small and medium enterprises in Kenya, Rwanda, Uganda, and Tanzania. The Fanisi Venture Capital Fund was set up with help from Norwegian Investment Fund for Developing Countries (Norfund)

East Africa’s new training institute will certify market practitioners

The curriculum of the Securities Industry Training Institute (SITI) has been launched in Kampala, Uganda.
SITI aims to standardize training on a wide range of programmes on capital markets and investments, corporate finance, asset management, entrepreneurship, corporate governance and other related fields of study. Eventually, all brokers, fund managers and investment advisors will require certificates to operate.