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Congo’s Sofibanque weighs equity partners as it eyes regional growth

Congo’s Sofibanque weighs equity partners as it eyes regional growth

DEMOCRATIC Republic of Congo's fourth-largest lender, Sofibanque SA, is considering bringing in strategic equity partners including other banks as it looks to expand in new markets in the sub-region, its managing director said. The family-held Sofibanque, which has grown its asset base to about $1.2 billion over the past decade, could consider selling an equity stake to help finance its plans to expand into markets including Guinea, and the neighbouring Republic of Congo and Zambia, Henry Wazne, told Reuters. Sofibanque could consider a strategic investor or partner with other banks that have a similar growth ambition and vision, Wazne said.…
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Focus: Western miners lag as oil powers enter race for Africa’s critical metals

Focus: Western miners lag as oil powers enter race for Africa’s critical metals

RISK aversion is likely to leave major Western miners lagging in a race to tap Africa's reserves of critical raw materials that has gathered pace now Middle Eastern oil powers have begun to emulate China's years of investment on the continent. Attracting the capital needed to advance copper, cobalt, nickel and lithium projects in Africa will be high on the agenda when executives, bankers and government officials gather in Cape Town, South Africa, for the annual African Mining Indaba beginning on Monday. For the big listed miners, the problem is convincing board members anxious to keep shareholders' onside, an issue…
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No schmoozing and boozing as the Indaba mining jamboree goes online

No schmoozing and boozing as the Indaba mining jamboree goes online

WENDELL ROELF and TANISHA HEIBERG THE prospect of chasing cocktails and contacts in the shadow of Table Mountain draws executives and officials from around the world to Cape Town each year for Africa's biggest mining conference. But this year the Investing in African Mining Indaba is online only and has been cut to two days rather than four as a second wave of the COVID-19 pandemic sweeps South Africa. For the mining industry, it means not only foregoing Cape Town's famed wines, vistas and sun but also a key deal-making and networking opportunity - not to mention the blow to…
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