Africa

Renaissance Capital has appointed Marios Hadjiyiannakis as chairman of the board of directors in Egypt, and Amr Helal as chief executive officer for North Africa.

Steinhoff has asked its creditors for a one month extension on its multi-billion euro debt restructuring process, with the South African retailer saying on Monday that it needs longer to finalise documentation.

The advance of global warming, highlighted by the Intergovernmental Panel on Climate Change’s report this week, not only demands that the private sector accelerate efforts to cut carbon emissions. Companies must also adapt to the changing climate – and this will involve interacting in new ways, experts say.

Sonangol, the Angolan national oil and gas company, has mandated Standard Chartered to arrange a term loan after a two year absence from the market.

Angola has signed a $2bn loan from China Development Bank, putting more debt onto the sovereign balance sheet as the country’s oil company seeks to borrow from commercial lenders.

Sonangol, the Angolan national oil and gas company, has entered the loan market after a two year absence, following a rise in oil prices.

Hassan Allam, the Egyptian construction firm and utilities firm, intends to list shares on both the local Egyptian Exchange and in London through the sale of global depository receipts.

Afreximbank was able to launch a $500m five year dollar transaction, pulling in the spread despite what a banker at one of the leads called 'choppy conditions'.

The order book for Afreximbank’s revived five year dollar benchmark had filled with more than $1bn of orders by Thursday lunchtime, according to a banker close to the deal.

Botswana’s diamond industry has received a $125m boost, after a trio of commercial and state-linked lenders have signed a joint risk loan guaranty agreement.

Dmitry Gladkov has been promoted to be Renaissance Capital’s acting global head of investment banking, replacing James Friel.

Ghana is not preparing to issue 100 year bonds this year, according to deputy finance minister Charles Adu Boahen, but has not ruled them out for 2019, although the nation is looking at different opportunities to raise long term capital.