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Issue 385 - 31 January 2019

Morocco/Ethiopia: Al-Amoudi released at last, his empire under pressure

Saudi authorities have released Saudi-Ethiopian billionaire Mohammed Hussein Al-Amoudi after more than 14 months in detention, initially in the Ritz-Carlton Hotel in Riyadh, in the corruption purge ordered by Crown Prince Mohammed Bin Salman Bin Abdelaziz Al-Saud. As with other...

Issue 385 - 31 January 2019

Morocco, Ethiopia

Issue 385 - 31 January 2019

African growth under pressure as economic storm clouds gather

Updated forecasts from the International Monetary Fund (IMF) show global expansion weakening with the world’s gross domestic product (GDP) growing by an estimated 3.7% in 2018, and forecast at 3.5% in 2019 and 3.6% in 2020. The projections are downward revisions from October’s...

Issue 385 - 31 January 2019

Africa

Issue 385 - 31 January 2019

CrossBoundary Energy Access facility

Mini-grid financing facility CrossBoundary Energy Access (CBEA) has reached first close with commitments from the Rockefeller Foundation and Ceniarth. CBEA has raised $16m to invest in mini-grids serving around 170,000 people. The facility will initially target Nigeria, Tanzania...

Issue 385 - 31 January 2019

Africa

Issue 385 - 31 January 2019

Regional: AfDB approves $25m investment in Arch fund

The African Development Bank (AfDB) has approved a $25m investment in the $250m Africa Renewable Power Fund, which is run by Arch Emerging Markets Partners. Arch is owned by Patrice Motsepe’s African Rainbow Capital and JCH & Partners and is the anchor investor in the fund,...

Issue 385 - 31 January 2019

Africa

Issue 384 - 17 January 2019

Sonangol secures $1bn loan as reforms start to take shape

Angola has taken a step towards reducing its dependence on borrowing from China with the signing of a $1bn loan agreement between Sonangol and a syndicate of major international banks. The loan, which runs for five years and pays a margin of 425 basis points over Libor, was...

Issue 384 - 17 January 2019

Angola

Issue 384 - 17 January 2019

Nigeria: AfDB loan supports ATI membership

The African Development Bank (AfDB) has approved a $14.12m facility supporting Nigeria’s membership of the African Trade Insurance Agency (ATI). ATI provides political risk insurance for investment into member countries, using host government equity as collateral. Membership of...

Issue 384 - 17 January 2019

Nigeria

Issue 384 - 17 January 2019

Ophir rejects Medco bid

Ophir Energy has rejected a bid approach from Indonesia’s Medco Energi, saying it significantly undervalued the company which was now well positioned to generate income from its expanded south-east Asia portfolio. Medco must state by 28 January whether it intends to make a...

Issue 384 - 17 January 2019

Africa

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