Dangote Group president and Africa's richest man Aliko Dangote signed a loan worth USD3.3 billion with 12 local and international banks to fund a USD3 billion proposed oil refinery complex in Nigeria.
Africa
Oil tycoon Dan Gertler wants partners for Congo oil development
Dan Gertler of Oil of DR Congo wanted partners to develop oil in Lake Albert in Congo. Oil magnate Dan Gertler, owner of Oil of DR Congo, would like partners to develop a potential oil find in the Democratic Republic of Congo.
Mauritius opening up to Indian banks
Indian banks are seeking to set up shop in Mauritius in order to gain from possible business the African continent would provide.
Marathon Oil Corp plans to sell Angolan oil field stake for USD 590 million
Marathon Oil Corp said it would selling its 10% stake in an Angolan oil and gas field for USD 590 million.
Nigerian Sovereign Investment Authority studies assets for investment purposes
The Nigerian sovereign wealth fund's head was in the process of determining among eight asset classes which one should be in the fund's portfolio.
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South African financial services group Sanlam said it was scouring Southeast Asia to invest in a life insurer.
Turkey said it intended to create an industrial zone in Addis Ababa on land assigned to Turkey by the Ethiopian government.
A grant-loan from the Belgian government would expand the water and sanitation services in Iten, Kenya.
South African Airways and Brazil's TAM Airlines signed a codeshare agreement to increase travelers' access to destinations in both countries.
Austrian oil firm OMV announced that it had agreed to buy a 40% stake in an offshore exploration block in Madagascar from Niko Resources.
Investment One Financial Services Ltd purchased the Nigeria International Growth Fund for an undisclosed amount.
The Federal Government of Nigeria lost USD 40 billion in downstream infrastructure investments for 76 non-producing oil leases.
Tanzania's National Development Corporation signed a joint venture agreement with Nava Bharat of Singapore for an oil palm farm and processing facility.
Investec would coordinate lending facilities for two power plants to be built in South Africa. Investec Plc would provide financing for GDF Suez as it develops two South African gas power plants.
