Above-average rain in some cocoa- growing areas of southwestern Ivory Coast, the world’s top producer, is benefiting this season’s crops, easing concern slow bean deliveries next year will deepen global shortages.
Zimbabwe’s government has raised $42.5 million by selling debt of up to one year’s duration to selected investors after public Treasury Bill sales by the central bank failed, a finance ministry official said.
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.
The International Finance Corp. is seeking advisers for the sale of local-currency bonds in Ghana, expanding an African debt program that started with an issue in Zambia that attracted demand five times the amount offered.
Nedbank Group Ltd., the South Africa lender controlled by Old Mutual Plc, plans to exercise an option it has from next month to buy a fifth of Ecobank Transnational Inc. in a deal valued at more than $500 million.
Ecobank Transnational Inc., the most geographically-diverse lender in Africa, said Chairman Kolapo Lawson will step down amid allegations of fraud that are being investigated by Nigeria’s capital markets regulator.