African airline holding company Fastjet PLC said Lonrho Ltd, its largest shareholder, had put up for sale of its entire stake in the company. Lonrho would be raising GBP1.49 million from the exit.
Africa
Nedbank Group plans to exercise option to purchase Ecobank Transnational Inc stake
Nedbank Group, headed by Chief Executive Officer Mike Brown, said it plans to use its option to acquire a stake in Togo-based Ecobank Transnational Inc valued at more than USD 500 million.
Africa not ready for capitalism
Dr. Peregrino Brimah of Every Nigerian Do Something or ENDS said Africa is not ready for Africapitalism at this time. He cited the reasons for this in his essay entitled "Is Africapitalism Good Or Bad For Africa?"
German DEG acquires stake in Chase Bank Kenya worth USD10 million
German investment firm DEG bought a stake in Kenyan Chase Bank worth USD10 million. Chase said DEG's investment will be used to finance their expansion, including the creation of new outlets.
CFR Pharmaceuticals issues formal bid for Adcock Ingram
Chilean drug maker CFR Pharmaceuticals issued a formal bid to acquire 100% of the issued share capital of South African pharmaceutical company Adcock Ingram Holdings Limited for USD1.26 billion.
Latest News
Ugandan energy company Umeme Ltd. obtained USD190 million in funding from the International Finance Corporation, Standard Chartered Bank and Stanbic bank. The long-term loan would be used for the company's capital investment program.
With an expectation of strong demand for its shares in the market, Glencore Xstrata would be making its market debut in the Johannesburg bourse today.
South African wireless operator Vodacom had laid out plans to increase its investments through increased pace of network upgrades according to its Chief Executive Officer Shameer Joosub.
Limitations on funding had prevented technology startups in Africa to grow, according to a Reuters report.
Kenya's Treasury Secretary Henry Rotich confirms the sale of as much as USD2 billion worth of Eurobonds for the country's debt payments and energy projects.
Because of comments considered as arrogant as against the government, the work permit of Konkola Copper Mines CEO has been cancelled and he would be barred entry into the country.
Seplat Petroleum Development Co said it planned a dual stock listing for the Nigerian oil firm. Nigeria-based oil firm Seplat Petroleum Development Co said it was thinking of listing its shares on two bourses.
Johannesburg-based Standard Bank said it would be selling its London-based trading unit to a yet-unconfirmed buyer.
Feronia identified the private placement equity investors and the breakdowns as to their purchases.
