Africa Finance Corporation (AFC) said it has completed its maiden borrowing, a USD 50mn bilateral loan facility with Standard Bank. This marks AFC's initial step in fully leveraging its balance sheet to invest in and support the development of critical infrastructure in the power, natural resources, transport, heavy industry and telecommunications sectors, the AFC said in a statement. Standard Bank was the sole arranger, lender and agent of the facility. AFC is an African-led international financial institution, established in 2007 whose mission is to improve African economies by proactively developing and financing infrastructure, industrial and financial assets. AFC is involved as an investor, developer and financier of various infrastructure projects. |
South African company Exxaro Resources said one of the options it currently considers is dismissing striking coal mine workers who fail to return to work in the week of March 25, fin24 reported ... more
South Africas telecommunication operator Telkom said that it has not made a decision on retrenching 13,000 employees, or more than half of its staff, TechCentral reported quoting a company ... more
Oryx Energies, a major independent provider of oil and gas products and services in Africa, has agreed to buy the South African liquefied petroleum gas (LPG) distribution businesses of BP and ... more