By Nawa Mutumweno – HSBC Holdings Plc and Rabobank’s Zanaco (Zambia National Commercial Bank) are among the top bidders to become bookmakers for Zambia’s first Eurobond of $700 million. According to Secretary to the Treasury, Fredson Yamba, Zambia will meet investors to gauge interest for its debut Eurobond within two months. The Zambian government is seeking two bookmakers and a legal advisor. Rabobank owns 49% of Zanaco. A number of South African and Zambian lenders have also expressed interest in bookmaking for the country following an advertisement in local and foreign newspapers. Zambia is to sell a 10-year Eurobond this... Continue Reading
February 2012 – Senior Vice President Lars Reno Jakobsen has been appointed as promoter and coordinator of the A.P. Moller – Maersk Group’s business expansion on the African continent with particular focus on the Sub-Sahara. The position is new and part of the Group’s efforts to expand business in growth markets in Africa. Lars Reno Jakobsen will take up the position from 1 March 2012. He has until now headed the Network and Product division in Maersk Line, the Group’s container shipping business. Jakobsen has long-time experience with international trade, having worked on four continents including Africa. “We already have... Continue Reading
By Peterking Quaye – Liberia Petroleum Refining Company (LPRC) has announced the importation of a second oil grant to Liberia by the government and people of Japan. This was contained in a statement signed by LPRC Board of Directors, the statement further says that Japan had already written to authorities at the Ministry of Commerce informing government of the grant, The Board of Directors, the highest decision-making body of the company further disclosed that the grant is expected to arrive in Liberia this year. At the time of purchase, the board said, the US$13 million allocated by the Japanese government... Continue Reading
JACKSONVILLE, FL – APR Energy (APR) recently signed extension agreements with two of its major customers in Africa, the Botswana Power Corporation (BPC) and the national utility of Burkina Faso, SONABEL. “Cultivating ongoing, positive relationships with our existing customers is a top priority for us,” said APR Energy Chief Executive Officer, John Campion. “I strongly believe that the loyalty of these customers is not only a testament to their satisfaction for the service they have received, but also confirms the confidence they have with APR as a leader in the temporary power industry.” APR Energy has been operating its diesel... Continue Reading
By Nawa Mutumweno – Konkola Copper Mines (KCM) has invested about $2 billion since London-listed Vedanta Resources took over the Zambian mining firm in 2004. According to KCM’s director of finance Vinod Bhandwat, the company has undertaken projects intended to expand its mining operations and increase production. The company is proud to own the $440 million Nchanga Smelter which replaced the older Nkana Smelter and is the only one of its kind in Africa and only the third in the world. The Nchanga Smelter in Chingola is a first-world benchmark that has greatly enhanced the air quality and reduced the... Continue Reading
