Dangote Industries  Limited has secured a $300 million facility from African Development Bank, AFDB to finance the construction of its crude oil refinery and Greenfield fertilizer manufacturing plant. According to the AFDB, the loan is designed to help boost fuel supply and fertilizer production in Nigeria. The AFDB said, “Both […]

South Africa’s FirstRand Ltd. (FSR) said its investment banking unit will finance as much as $120 million of Ghana’s $820 million Kpone power plant as lenders seek to benefit from African infrastructure projects. Rand Merchant Bank is also the lead arranger for about $400 million of commercial bank funding for […]

PayPal is entering 10 new countries this week, including Nigeria, providing online payment alternatives for consumers via mobile phones or PCs in markets often blighted by financial fraud. Rupert Keeley, the executive in charge of the EMEA region of PayPal, the payments unit of eBay Inc, said in an interview […]