Senegal News
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Rwanda will use part of the funds from its debut dollar-bond sale to pay for the construction of a 28- megawatt hydropower plant that will be fully operational by June 2014, Finance Minister Claver Gatete said.
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Aliko Dangote, Africa’s wealthiest man, says he has negotiated loans of $4.25 billion from banks to build a refinery to help the continent’s largest crude oil producer reduce gasoline imports.
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Sub-Saharan African nations outside South Africa are selling $7 billion of debt this year, more than in the past five years combined, as yields more than double those of Treasuries lure investors repelled in the past by violence and corruption.
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Dangote Cement Plc, Nigeria’s largest company and Africa’s biggest producer of the building material, said second-quarter revenue will total 98.5 billion naira ($623.3 million) as demand was “strong” this month.
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Rwanda raised $400 million in its debut dollar bond at the lowest end of yield guidance given to investors, according to a person with knowledge of the deal.
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Rwanda will cap its debut dollar bond sale at $400 million, with final yield guidance given at 6.875 percent to 7 percent, according to a person with knowledge of the offering.
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Dangote Cement Plc, Nigeria’s largest company and the continent’s biggest producer of the building material, said full-year profit gained 24 percent as increased capacity improved sales.
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SAP AG, the biggest maker of business-management software, is pushing further into oil- and gas-rich African countries as growth in Europe remains subdued and Asian markets slow.
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Karim Wade, the son of former Senegalese president Abdoulaye Wade, was charged with illegal enrichment and is awaiting trial at a prison in the capital, Dakar, the Justice Ministry said.
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Karim Wade, the son of former Senegalese president Abdoulaye Wade, is being detained by police as charges against him relating to a probe into illegal enrichment are being considered, the Justice Ministry said.
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