Africa Finance Daily

FDI into Africa accelerates as investor perceptions change
The Citizen Daily
Growing optimism and confidence among international and African investors has led to significant inward investment into Africa over the last decade, according to Ernst & Young’s second African Attractiveness Survey. The report combines an annual …

Survey projects $150b FDI in Nigeria, others by 2015
The Nation Newspaper
… 12 minutes ago KENYA, Nigeria and South Africa considered regional powerhouses in the continent of Africa are expected to achieve GDP growth of between 4 and 5% pa in the next decade as well as projected foreign direct investment of $150b by 2015.

Kosmos Energy Terminates $365m Sabre Acquisition Agreement At Ghana’s Oilfields
Peace FM Online
American oil firm Kosmos Energy on May 3, 2012 terminated the acquisition agreement to buy Sabre Oil’s 4.05% interest in the Deepwater Tano Block, offshore Ghana. The termination was effected after both parties reached a “mutual agreement”.

Mobile phones to be used to buy bonds
Daily Nation
By NATION CORRESPONDENT Kenyans will soon be able to buy government debt including Treasury Bills and bonds using their mobile phones, according to a project dubbed, ‘Treasury Mobile Direct’, launched by the World Bank and Central Bank.

Kenya tops Africa in cross-border investment
Business Daily Africa
By RAWLINGS OTINI (email the author) Kenyan and Nigerian firms made the most cross-border investment in Africa last year, a newly-released report on global FDI flows says. Kenya also topped the list of African countries with the highest growth in new …

South Africa’s FirstRand plans to acquire Kenyan bank
Business Daily Africa
Customers queue in a banking hall. South Africa’s FirstRand Bank plans to acquire a mid-sized Kenyan bank when the opportunity arises. Photo/File By REUTERS (email the author) South Africa’s FirstRand Bank plans to acquire a mid-sized Kenyan bank when …

Ghana’s total debt increased by 10 per cent in 2012
Spyghana.com
Ghana’s total debt increased by 10 per cent to GH¢23608.5 million by the end of the second half of 2011. That represented 39.9 per cent of gross domestic product (GDP). The country’s domestic debt over the same period increased by 9.7 per cent to …

IFC, MasterCard partner to improve financial services for Africans
Vanguard
IFC, a member of the World Bank Group, and The MasterCard Foundation today launched a partnership to increase access to financial services for an estimated 5.3 million people in Sub-Saharan Africa. Building on recent economic momentum and stability in …

AfDB Arusha meeting to decide South Sudan’s bank membership
Daily News
WHILE the East African Community’s heads of state summit is holding on until next November to decide whether South Sudan should join the EAC, the African Development Bank intends to make same decision during its Arusha meeting later this month.

South Africa’s Construction Industry desperate for recovery
SA Commercial Prop News
But Standard Bank research analysts Irina Gavrilova and Luresha Mudaliar say the market typically re rates the sector 12-18 months ahead of a recovery in earnings. Sentiment about a recovery in earnings has improved on news that activity has increased …

Airtel Money facility Adjudged Best Mobile Money Service
Vibe Ghana
Airtel Money recently announced new products including free life insurance cover for all Airtel Money customers with Unibank and interest on client’s mobile wallet with UT Bank. Additionally some of the largest outlets in Ghana including Melcom and …

BTG launches $1bn Africa buyout fund
Financial Times
By Samantha Pearson in Rio de Janeiro Brazilian billionaire André Esteves has launched the biggest private equity fund for Africa, promising to raise at least $1bn for investments in areas such as energy and infrastructure as his bank fights for …

Bungane will steer Barclays Africa
Business Day
ABSA yesterday appointed career banker Kennedy Bungane as CE for Barclays Africa to drive the African expansion of the group and its parent Barclays. He will join Absa on July 1, having resigned with immediate effect as CEO of Standard Bank ‘s South …

Sub-Saharan Africa Stocks: Dangote, Diamond Trust, Skye Bank
BusinessWeek
Diamond Trust Bank of Kenya Ltd. (DTKL KN), the East African nation’s sixth-biggest lender, fell for a second day after shareholders approved a plan to sell 24.5 million new shares to existing stockholders. The stock slipped 1.5 percent to 97.5 …