Africa Finance Daily

Zenith Bank Nigeria Says Second-Quarter Profit Surged 32%
Bloomberg
Zenith Bank Nigeria Says Second-Quarter Profit Surged 32%. By Vincent Nwanma – 2012-07-25T16:13:27Z. Zenith Bank Plc (ZENITHBA), Nigeria’s second- biggest lender by market value, said second-quarter profit jumped 32 percent from a year earlier.

Minister Gigaba Says China Sees South Africa As Gateway to African Market
AllAfrica.com
Public Enterprises Minister, Mr Malusi Gigaba -in the United Kingdom to drum up support for financing in State-Owned Companies (SOEs), has been told by CEOs from China that they saw South Africa as the investment gateway to the rapidly growing African …

Demand for Kenyan bonds rises, yields up
Reuters Africa
NAIROBI, July 25 (Reuters) – Demand for Kenya’s 5- and 10-year Treasury bonds jumped at auction on Wednesday, lifted by commercial banks shifting focus back to the debt market after returns on term auction deposits dwindled in recent weeks, traders said.

S.Africa’s PPC invests in Ethiopian cement firm
Reuters
JOHANNESBURG, July 25 (Reuters) – South Africa’s Pretoria Portland Cement and a state investment body will together pay $21 million for almost half of Ethiopia’s Habesha Cement Share Company, targeting demand for infrastructure in one of Africa’s …

Africa: Transform, Innovate, and Connect – a New Strategy for Information and …
AllAfrica.com
The World Bank Group aims to help developing countries use ICT for greater development impact. A dramatic increase in use of mobile phones and the Internet; plunging prices of computing and mobile internet devices; the increasing prevalence of social …

Kenya’s 182-day T-bill yield rises to 13.379 pct
Reuters Africa
NAIROBI, July 25 (Reuters) – The weighted average yield on Kenya’s 182-day Treasury bills rose to 13.379 percent from 12.801 percent last week, the central bank said on Wednesday. It received bids worth 2.5 billion shillings ($29.60 million) for the 3 …

Insurance is Key as New Investment Frontiers Open, Says World Bank Exec
Insurance Journal
“We are seeing Africa as a major growth area for investment. Investors going to Africa today are different from the ones that used to go there, more sensitive to risks, and these new investors are much more demanding of the sort of products we are …

Private Equity – New Cash for Expanding Businesses
AllAfrica.com
Africa is growing, and African companies need cash to expand. Investors want in on the action, especially given low returns in many other parts of the world these days. But with few stocks and bonds, and scant liquidity for those out there, how do …

FG Targets US$10 Billion Excess Crude Account, US$50 Billion Foreign …
AllAfrica.com
Lagos — Coordinating Minister of the Economy and Minister of Finance, Dr. Ngozi Okojo-Iweala, yesterday, disclosed that the Federal Government had resolved to rebuild Nigeria’s depleting Excess Crude Account, ECA, which recently went down to $3.6 …

Nigeria To Get $200m World Bank Grant For Infrastructure
Leadership Newspapers
The World Bank has concluded plans to provide a $200 million seed fund to set up a Financial Intermediary Loan (FIL) scheme under the Public Private Partnership (PPP) initiative, as part of measures to address infrastructure deficit in the country …