Mayflower Gold completes acquisition of Kilimapesa gold mine in Kenya

KENYA – Mayflower Gold has completed the acquisition of the Kilimapesa gold Mining and processing operations in Kenya from Alternative Investment Market of London Stock Exchange-listed Goldplat. The acquisition has been brought forward ahead of completion of the planned reverse takeover (RTO) of Papillon Holdings by Mayflower which will create a new London Stock Exchange listed gold producer in East Africa called Caracal Gold. Kilimapesa is an established, permitted, and operating gold mine with current gold sales and successive gold pours in 2021. Operations recommenced in 2020 after a period…

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Helium One to start drilling world’s rare gas in Tanzania

TANZANIA – Helium One, Australian private company with a licence for helium gas exploration and development of the Rukwa Project in Tanzania, has announced the commencement of the acquisition of seismic data. The Rukwa project in south western Tanzania is described as the largest known primary helium resource in the world. Through its website the company announced that it has successfully mobilised a data acquisition team, and other equipment for the acquisition of the data which will be helpful in planning and monitoring the development and production. Helium One chief…

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Guaranty Trust Bank eyes Kenyan financial institution

KENYA –  Nigerian multinational financial institution GTBank, has revealed  plans to buy a rival bank in Kenya, adding to the growing list of Nigerian lenders closing acquisitions locally to grow market share. The London and Nigeria Stock Exchanges listed bank said it wants to tap into East Africa’s biggest economy. “I think the place we would still like to do business or do an acquisition is Kenya,” GTB’s managing director, Segun Agbaje told reporters during an investor call, responding to a question about whether there was a plan by the…

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Helios to buy Airtel Africa towers in four markets

AFRICA – London Stock Exchange-listed Helios Towers has reached agreements to buy and deploy over 2,500 high sites from and for Airtel Africa Group in deals that potentially give it access to four “attractive new markets”. Helios is acquiring Airtel’s passive infrastructure in Madagascar and Malawi and has signed an exclusive memorandum of understanding for the “potential acquisition of its passive infrastructure assets in Chad and Gabon”, all subject to regulatory approvals. In a statement on March 23, 2021, Helios said the transactions comprise four separate agreements: one for each market,…

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Airtel set to offload stake in mobile money service

KENYA – London Stock Exchange-listed telecommunication company Airtel Africa Plc is seeking to sell a minority stake in its mobile financial services platform Airtel Money in a bid to raise cash. The multinational mobile telecommunication company, which operates in 14 countries in East, Central and West African countries, says the move is part of a strategy of selling some assets. “We are actively pursuing the sale of the remaining owned tower sites that sit across several of our operating countries and the group is in discussions with various potential investors…

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Huge Group eyes London Stock Exchange listing as it seeks new investors

SOUTH AFRICA – Johannesburg Stock Exchange (JSE) -listed telecommunications specialist Huge Group has applied to list on the London Stock Exchange’s Alternative Investment Market (Aim), the company has said in a statement. This secondary listing will see Huge Group retaining its primary listing in Johannesburg through the JSE as well as its listing on South Africa’s A2X Markets stock exchange. “Following the proposed secondary listing, Huge shares will be available to be traded on the JSE, the A2X and Aim,” the company said in a statement. “The issued share capital of…

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Kenya to receive US$72.8m from UK for affordable housing scheme

KENYA – Th United Kingdom has pledged US$72.8 million to Kenya to fund the construction of affordable housing. UK Foreign Secretary, Dominic Raab said that the funding which will come in tranches, is part of the UK government’s support of President Uhuru Kenyatta’s vision of providing 100,000 affordable housing to Kenyans. Of this amount, US$9 million will be from the UK funded InfraCo and another US$63.7 million from private investors, both coming in as part of the UK government’s investment on infrastructure in Africa. “The US$72.8 million deal including US$9million…

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Egypt launches inaugural US$750m green bond offering on London Stock Exchange

EGYPT – The government of Egypt launched has launched its first green bond offering on the London Stock Exchange (LSE) which is valued at US$750 million and has a 5-year term. The offering by the North African county is the largest in the Middle East and North Africa region, and the first of its kind on the London Stock Exchange. According to Egypt’s Finance Minister Hussein Maait, the green bond issue witnessed a high turnout from investors, as purchase orders exceeded the volume of the announced issue “$500 million” by 7.4 times. The bond according to…

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Conglomerate Press Corporation plc delists from London Stock Exchange

MALAWI – Conglomerate Press Corporation plc (PCL), a public company, has delisted from the London Stock Exchange (LSE) as a global depository receipt following a review of continued benefits of listing on the bourse. PCL was the only firm in the country which was dual-listed on both Malawi Stock Exchange (MSE) and LSE as a global depository receipt which is a general name for a depository receipt where a certificate issued by a depository bank, which purchases shares of foreign companies, creates a security on a local exchange backed by…

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Investec Asset Management finalises demerger from Investec Group as it rebrands

SOUTH AFRICA – Investec Asset Management, an investment products and services to institutions, has completed its demerger from Investec Group and officially rebranded, in what it says is the final step to becoming an independent global asset manager. Now known as Ninety One, the firm’s shares will list today on both the London Stock Exchange and the Johannesburg Stock Exchange. Ninety One founder and chief executive Hendrik du Toit said despite the current market environment he was excited for the future. “Today we start an exciting new phase as an…

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