Inspiring Leadership & Sustainable Business Transformation in Africa
AFRICA – The African Development Bank (AfDB) has launched a A$600 million (US$463.9 million) 5.5-year Kangaroo bond, marking its return to the Australian dollar bond market. The transaction was led by Nomura and RBC Capital Markets. It is the institution’s first benchmark Kangaroo since early 2018 and it is first in the mid-curve since 2015. It is also the largest…
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SOUTH AFRICA – Mr Yum, an Australian start-up running a web-based food-ordering platform has launched its service in South Africa allowing customers to order and pay for food from their favourite local restaurants through the Mr Yum website. Mr Yum is not a delivery service, but rather it allows restaurants to cut out the middleman and run their own deliveries while…
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BOTSWANA – Sefalana Holding Company Limited, one of Botswana’s largest retail outfit has entered into an agreement with Australian based company, Seasons Group to acquire 40% stake in the company for P74 million (US$6.1m). Seasons Group operates in the Fast Moving Consumer Goods (FMCG) sector with a chain of seven supermarkets in Australia’s capital, Brisbane. It is controlled by a consortium…
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EGYPT – The Central Bank of Egypt has announced plans to shift the form of its currency from paper notes to plastic notes, starting with the LE 10 ($0.64) notes. Deputy Governor of CBE, Mr. Gamal Negm told Egypt Today that the shift to plastic was initiated because plastic currency lasts longer than paper notes. The deputy governor further noted…
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UNITED STATES – American multinational corporation, General Motors Company has said it would wind down its Australian and New Zealand operations and sell a Thai plant in the latest restructuring of its global business. The Thai plant, according to Reuters, will be acquired by Great Wall, one of China’s biggest sport-utility vehicle makers. The Chinese automaker said it will sell…
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AUSTRALIA – An Australian court has approved a A$15 billion (US$10.1 billion) merger between a unit of Britain’s Vodafone Group and internet provider TPG Telecom. The ruling is a reprieve for the two companies whose plan to merger had been rejected by the Australian Competition and Consumer Commission’s (ACCC). In giving its verdict, the ACC had argued that a tie-up…
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CANADA – Australia’s Evolution Mining Ltd has agreed to buy Canadian gold mining complex Red Lake from Newmont Goldcorp Corp for US$375 million in cash. The Australian mining company also agreed to pay an additional $100 million to Newmont upon new resource discovery at the mine. “Red Lake is an under-capitalized asset which, through a committed investment in development and…
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AUSTRALIA – American multinational energy corporation ConocoPhillips has agreed to sell its northern Australian business to partner Santos Ltd for $1.39 billion, in a deal that will hike the Australian group’s output by 25% and boost its position in the global gas market. Reuters reported that the deal marks the second major acquisition by Santos in less than a year,…
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