Africa Finance Daily

IFC, StanChart Unveil Bond Programme to Support Devt
THISDAY Live
… increase the availability of local-currency financing for private sector development in Africa. A statement explained that the pan-African medium-term note programme would initially focus on Botswana, Ghana, Kenya, South Africa, Uganda, and Zambia.

UT Bank secures $55m capital investment
Ghana Business News
The bank could not pay dividends because it had to complete the payment of the GH¢60 million minimum capital to the Bank of Ghana as required for every bank operating in Ghana. UT secured a $15 million loan from the World Bank’s International Finance …

Ghana records $1.1b investment in 2012 first Quarter
Ghana Business News
The Ghana Investment Promotion Centre (GIPC) said on Thursday that it recorded 95 new projects with an estimated value of $1.18 billion in the first three months of the year 2012. The value represents an increase of 67.98 per cent over the value …

African and Global Leaders Rally Private Sector Investment to Accelerate …
AllAfrica.com
The Grow Africa Investment Forum, convened jointly by the African Union, NEPAD and the World Economic Forum, engaged over 270 leaders including heads of state and government from Ethiopia, Rwanda and Tanzania, as well as leaders of African and global …

Kenya Shilling Weakens Third Day as Bank Stays out of Market
Bloomberg
Kenya’s shilling weakened for a third day, as the central bank continued to stay out of the money market. The currency of East Africa’s biggest economy depreciated as much as 0.5 percent to 83.70 per dollar and was trading 0.2 percent weaker at 83.45 …

Sub-Sahara Africa Stocks: National Bank of Kenya, Safaricom Move
Bloomberg
The Nigerian Stock Exchange All-Share Index (NGSEINDX) declined for the first time in three days, falling 0.7 percent to 22533.72 by the close in Lagos, according to data compiled by Bloomberg. Kenya’s All-Share Index (NSEASI) slid 0.1 percent to 63.08 …

Barclays Seeks 25% Revenue Growth in Middle East, Africa
Bloomberg
May 10 (Bloomberg) — Barclays Plc, Britain’s second- biggest bank, is seeking to boost revenue from the Middle East and North Africa by as much as 25 percent annually over the next five years and will hire about 100 people in the region in 2011.

Kenya: Mastercard Survey Reveals Kenyans Are Among Global Mobile Payments Leaders
AllAfrica.com
The MPRI found that while no two nations are the same, consumer readiness is the critical success factor to drive mobile payments adoption – and that Kenya ranks among the top five countries globally in being ready to adopt mobile payments technology.

Kenya looks to ease growth-sapping bubble
Financial Times
By Katrina Manson in Nairobi When Standard Chartered’s Kenyan retail lending book started growing by a billion shillings ($12.5m) a month last year, Richard Etemesi, chief executive, knew the region’s largest economy was overheating. As financial …

Shoprite, Resilient to Build Shopping Malls in Nigeria, FM Says
Bloomberg
Shoprite Holdings Ltd. (SHP) and Resilient Property Income Fund Ltd. plan to spend more than 1 billion rand ($125 million) building 10 shopping malls in Nigeria, the Financial Mail said, citing Resilient’s Chief Executive Officer Des de Beer.

IFC plans local-currency African debt
Business Day
THE World Bank’s International Finance Corporation (IFC) expects to invest $2,6bn in Africa this year, nearly double five years ago, with a six-country domestic bond programme at the core of its activities, a senior official said yesterday.

South African bond rush
Reuters Blogs (blog)
An expected 0.44 percent weighting for South Africa implies inflows of $5-$9 billion, analysts estimate. Some of that cash has already come. How much more could roll in this year? Optimists point to Mexico – foreign ownership of the local debt market …

Citadel Sees African Project-Finance Gap as Europe Cuts Exposure
Bloomberg
Development banks, sovereign wealth funds and export lenders will need to help fill a project- financing gap in Africa left by European banks reducing their exposure to the continent, said Ahmed Heikal, chairman of Citadel Capital SAE.

CEOs share their thoughts on Africa’s investment hot spots
How we made it in Africa
But what sectors and African countries will offer the most profitable opportunities over the coming decade? During a session at the World Economic Forum on Africa, entitled Africa’s Investment Heatmap, a panel of business leaders shared their thoughts …