Gabon increased the yield guidance on Eurobonds it plans to sell as part of an exchange of $1 billion of existing debt after initial rates were criticized by Standard Bank Group Ltd. and Jefferies Group Inc. as too low.
Gabon’s state-owned ports and harbor authority plans to boost spending by 12% next yr as traffic increases and to secure its Port-Gentil facility after an attack on an oil tanker by pirates in July, according to a statement published in the Daily Union. * 2014 budget 15.4b CFA francs vs 13.7b francs in 2013 * 2014 operating expenses 10.5b francs vs 9.2b francs NOTE: Port-Gentil handles crude oil, while Port Owendo on outskirts of Libreville handles other exports
Ghana Ports and Harbours Authority, the state company that runs the nation’s two ports, will award contracts worth $2.5 billion through 2018 to double capacity, handle larger ships and reduce waiting time for vessels.
Groupe Saham, a Morocco-based investment company, bought GA Angola Seguros SA, Angola’s largest closely held insurance company by revenue, for an undisclosed amount, GA Chief Executive Officer Fernando Dolbeth Assuncao said.
Kenya Airways Ltd. Chief Executive Officer Titus Naikuni is to leave after restoring sub-Saharan Africa’s No. 3 carrier to profit with cost cuts that outweighed the impact of the Westgate mall siege and a fire at its hub.
China National Gold Group Corp. is considering investing in mines owned by Robert Friedland’s Ivanhoe Mines Ltd., including the Platreef project in South Africa, a person with knowledge of the situation said.