Construction of factories in Egypt: China's Xinxing Cathay International wants to invest $1.08 billion

The Egyptian government announced in a statement issued on Wednesday, October 25, 2023, that the Chinese steel group Xinxing Cathay International plans to invest $1.08 billion in the construction of two factories in Egypt. According to the statement, these two factories will be located in the Suez Canal Economic Zone (SCZone). The first will receive an amount of 147 million dollars and will specialize in the manufacture of cast iron pipes with an annual production capacity of 250,000 units and the rest is intended for the local market

Strengthening energy security: World Bank extends $1 billion loan to South Africa

In a press release published on Wednesday, October 25, the World Bank announced that it had granted South Africa a $1 billion loan to support the strengthening of energy security and the transition to a & eacute; low carbon economy. This amount will help the country to “facilitate the restructuring of the electricity sector through the separation of the activities of the state-owned company Eskom Holdings”, and to “advance the energy transition by encouraging private investment in renewable energy and strengthening carbon pricing instruments

Restructuring over $3 billion in debt: Zambia and Eurobond holders reach an agreement

The Zambian Ministry of Finance and National Planning said in a statement issued on Thursday, October 26, that Zambia has reached an agreement in principle with the holders of its Eurobonds on the restructuring of more than $3 billion in debt. According to this press release, the agreement in principle was “an agreement in principle has been reached on the main commercial conditions for the restructuring of Eurobonds maturing in 2022, 2024 and 2027". The agreement in principle reached with Zambian bondholders comes less than two weeks after the signing of an agreement between Lusaka and its official creditors on the restructuring of $6.3 billion

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IB Bank, NSIA Bank and the Banque Sahélo-Saharan have made progress in the overall ranking of the 14 Togolese banks that share the market will have undergone changes.

SODECI managers announced that the Abidjan-based company recorded a sharp 33% drop in its after-tax profit at the end of the first half of 2023 compared to the 2022 fiscal year.

BH Bank managers announced that the Tunis-based banking institution recorded a 7% increase in net banking income at the end of the third quarter of 2023 compared to the same period in fiscal 2022, reaching 465 million dinars (144.058 million dollars) compared to 434.303 million dinars dinars