Commodities & Currencies

VENTURES AFRICA – The Nairobi Securities Exchange has announced the suspension of trading for KenolKobil shares.   According to Reuters report, the sanctions on the oil marketer, which is in the process of a takeover by Swiss-based Puma Energy, was announced by the Kenyan bourse today.   Puma had made an offer to acquire all [...]

VENTURES AFRICA – Ivory Coast has revealed plans to issue a 60 billion CFA franc three-year bond with a 6.0 percent coupon to raise funds for infrastructure projects.   Reuters reports indicate that the bond, which will be listed on the West African bourse, will be marketed to investors across the region’s CFA currency zone [...]

VENTURES AFRICA – Egypt’s stock exchange has suspended trading on mobile operator, Mobinil and Orascom Telecom Media and Technology (OTMT) both owned by Egyptian Billionaire Naguib Sawiris.   Egypt’s bourse announced the sanctions on Thursday in a statement on request of the country’s regulator. Although no details were provided.   France Telecom has finalised a deal to [...]

(Reuters) – The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Wednesday. EVENTS: THE HAGUE, NETHERLANDS The International Criminal Court rules on Congolese warlord Thomas Lubanga, who is accused of conscripting, training and arming hundreds of child soldiers in the Democratic Republic of Congo’s [...]

(Reuters) – At the massive Prospectors and Developers convention, it’s not hard to find a table full of mining executives huddled in conversation, their voices muffled by the din of thousands of participants at the event.   With gold prices steady above $1,650 an ounce and a growing number of juniors producing in Africa, it [...]

(Reuters)- The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Tuesday.   EVENTS:   KENYA – The central bank’s Monetary Policy Committee holds monthly meeting. At its last meeting in February, it left its benchmark Central Bank Rate unchanged at 18 percent.   MAURITIUS [...]

Source: AfricaBusiness.com Nowadays, a lot of projects are springing up in Africa, one of the vast emerging consumer markets, and require working capital to operate, to grow and to compete successfully in sectors with future potential, such as agro-industries, solar energy, housing, finance, mobile phones, gold mining and advertising industries.   Unfortunately, there are very few [...]

First published in 2010, here are reasons why Larry Seruma, chief investment officer of Nile Capital Management, thinks investing in Africa is a good step forward:   1. Ground-floor opportunity.’ Seruma says many investors have already missed what he calls a “ground-floor opportunity” in Africa. For the decade ending Dec. 31, 2009, an African composite index [...]