United States

Africa Investment 2015

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Blackstone eyes opportunities in African power shortages

DAKAR Private equity will play a key role in developing Africa given the massive needs for capital on the continent, says Blackstone Group , which is focusing on infrastructure projects involving power generation and transmission.

South Africa's Dimension Data eyes data center growth to boost profit

CAPE TOWN South African IT firm Dimension Data is on track to reach $8 billion in revenues this year, maintaining double digit growth led by its push into data centers, the firm's chief executive said on Friday.

Low oil a plus, but no panacea for African companies

JOHANNESBURG A lower oil price should give companies operating in Africa a lift but industry is not banking on it as a long-term elixir.

Kenya bourse chief says banks sign up to clear derivatives

NAIROBI The Nairobi Securities Exchange will work with three banks to set up a clearing house for its planned offering of derivative instruments from the second quarter of this year, its chief executive said on Friday.

Mixed fortunes blur idea of Africa's collective 'rising'

JOHANNESBURG Falling commodity prices, political upheaval and simmering conflict are exposing the differing fortunes of Africa's economies, undermining the idea that the continent of a billion people is on one collective ascent.


Rapid West African growth makes debt manageable: CFA central bank

DAKAR Rapid economic growth in West Africa's CFA-franc zone will keep debt loads manageable despite a recent wave of heavy borrowing by governments, the governor of the regional central bank told Reuters.

Atlas Mara says to target Africans ignored by other banks

JOHANNESBURG Atlas Mara , the newest entrant to the African banking market, plans to target low-income earners in additional to the multinational companies and middle-class consumers existing lenders have concentrated on, its chief executive said.

Flour Mills of Nigeria to cut capex as economy falters

LAGOS Flour Mills of Nigeria expects to cut capital expenditure by almost half this year, down from 40 billion naira a year ago, as the slowdown in the economy, caused by the oil price collapse and the weakening naira, hurts consumer spending.

South Africa's Eskom may sell assets to raise cash:CEO

JOHANNESBURG South Africa's cash-strapped power utility Eskom [ESCJ.UL] may sell some of its assets to raise capital as it scrambles to light up Africa's most advanced economy, the company's chief executive said on Thursday.

Masawara in talks with Chinese, Indian firms on methane gas

(Corrects March 5 story to make clear Masawara is interested in coal-bed methane gas bloc but does not yet own it)


Standard Bank to spend London unit proceeds on capital base

JOHANNESBURG Standard Bank said on Thursday it would spend the bulk of the $690 million from the sale of its global unit to capitalize its South African business and to invest more in fast-growing areas like Nigeria, Angola and Mozambique.


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