Ghana Joins Better Than Cash Alliance
The Government of Ghana joined the Better Than Cash Alliance to enhance fiscal transparency and promote financial inclusion for all its citizens.
ViiV Healthcare Announces New Grants in Support of Ending Mother to Child Transmission of HIV
Landmark number of grants awarded for 2015 as the Positive Action for Children Fund hits 5 year milestone.
Tigo Pesa Returns TZS 3 Billion to Customers
The first mobile money service in the world to pay profit to its users
Alcatel-Lucent and Ooredoo Algeria in Africa’s First 400G Ultra-Broadband Network
Africa's first 400G broadband network in Alcatel-Lucent and Ooredoo Algeria deal
Africa Continues to Attract Global Investors: PwC Infrastructure Report
Africa Continues to Attract Global Investors: PwC Infrastructure Report
Viettel Honoured as Fastest Growing Company of 2014
Viettel in Mozambique honoured as fastest growing company of the year (2014)
BP Southern Africa Commits to Transformation
BP Southern Africa (BPSA), one of the oldest companies operating in South Africa for over 90 years, has completed a major Broad Based Black Economic Empowerment (B-BBEE) transaction
Standard Bank Arranges US125 Billion Bond sale to Investors
Standard Bank is proud to have partnered with Eskom to sell US$1.25 billion 10 year fixed rate bonds into the international capital markets. The funds raised will enable the state-run utility, which produces more than 95 percent of South Africa’s and 40 percent of Africa’s power, to fund its generation expansion program. Johannesburg-based Standard Bank, Africa’s biggest lender by assets, acted as joint lead manager and bookrunner on the sale of the bonds which mature on 11 February 2025 and will pay an annual coupon of 7.125 percent. Eskom had initially planned to sell a benchmark US$1 billion bond but expanded its offering after it received bids totalling almost US$4.3 billion from approximately 280 investors from across the globe. “This was a very well supported book, that held stable at the lower end of our initial pricing thoughts,” said Megan McDonald, Global Head of Debt Primary Markets at Standard Bank. “The fact that the bond was almost four times oversubscribed is a strong vote of confidence from international investors which will enable Eskom fund its expansion programs and add additional generating capacity. This is an excellent outcome against challenging market conditions with concerns over Greece and potential increases in US Treasury rates.” Eskom last sold debt in the international markets in August 2013 when it issued US$1 billion of 10-year bonds at a coupon of 6.75 percent. At the time the utility received bids worth more than US$4 billion from 225 investors. “We are honoured to have assisted Eskom with this important transaction which demonstrates Standard…
ShopRite Scandal Closes Five Mozambique Stores
South African retail giant Shoprite has been forced to close five stores in Mozambique for selling old food.
Billionaire Patrice Motsepe Pledges To Donate Half His Fortune
South African billionaire Patrice Motsepe, the founder and executive chairman of African Rainbow Minerals, has pledged to donate half of his fortune.
