Ghana signs agreement for $28 billion petroleum hub expansion with planned 300,000-barrel refinery
The Petroleum Hub Development Corporation (PHDC) signed the memorandum of understanding in Accra on 19 October with a consortium led by UAE-based Global Sphere, involving investors and technical partners from South Korea and Mali
$17 billion hedge fund Walleye is beefing up its stock-picking unit despite losing a key executive to Citadel
The $17 billion asset manager has hired a pair of executives this month to support its equity long-short division, after left to return to Ken Griffin’s Citadel in September. Giannini had been the chief operating officer of the unit, a significant addition to the firm, before departing after less than a year in the role
Africa’s largest economy secures $1.5 billion World Bank loan to fix power, ports and water infrastructure
The financing, approved by the International Bank for Reconstruction and Development (IBRD), comes as Africa’s largest economy pushes ahead with structural reforms aimed at removing some of the biggest obstacles to investment, exports and job creation
Tanzania edges closer to $42 billion gas deal in push to become East Africa’s energy hub
Finance Minister Khamis Mussa Omar said the negotiations were nearing completion, after officials had initially expected the LNG agreement to be signed before June
Dangote’s proposed $15 billion Kenya refinery enters critical stage as Ruto pushes towards groundbreaking
Ruto said the talks, held on the sidelines of the 81st United Nations General Assembly, focused on financing and final preparations for the project
Africa’s largest refinery’s $1.6 billion IPO opens to Kenyan investors as Dangote expands East Africa push
The Capital Markets Authority of Kenya said that it had approved the global depository receipt submitted by Renaissance Capital (Kenya)
Abu Dhabi Crown Prince’s $300 billion wealth empire eyes new trade corridors stretching into Africa
Sheikh Khaled chairs L’imad Holding, the Abu Dhabi investment vehicle that took control of assets previously managed by ADQ, including a portfolio valued at about $263 billion. Global sovereign wealth specialists estimate that the combined entity now oversees around $300 billion in assets
Airtel Money gets $7 billion price tag as investors prepare to sell shares in African fintech
The company priced its offer at £1.96 a share, giving it an estimated market value of £5.3 billion, or approximately $7 billion, when it is admitted to trading
Nigeria officially opens its $700 billion mining industry to US investors as Washington expands Africa mineral push
The agreement, signed in New York on the sidelines of the 81st United Nations General Assembly, covers geological data and exploration, mineral development and processing, infrastructure, and technical capacity building
China beats the U.S. with $8.2 billion in imports from one of Africa’s largest economies, but there’s a problem
Official figures from the National Bureau of Statistics show a growing gap between Asian and Western commercial volume in the country