Africa’s Seychelles Issues World’s 1st Blue Bond

Africa’s Seychelles Issues World’s 1st Blue Bond

By CultureBanx Team

  • Seychelles raises $15M in a 10-year blue bond

  • The nation’s fishing industry employs 17% of its population

The tiny island nation of Seychelles is the first country to sell debt earmarked specifically for ocean projects, raising $15 million in a 10-year blue bond. Nuveen, Prudential and Calvert Impact Capital are the three investors who bought the bond. Proceeds from the blue bond will be used to expand its protected marine areas, invest in fisheries and offer grants and loans to ocean-related industries.

Why This Matters: The Indian Ocean archipelago’s economy is dependent on the ocean and on fisheries for nutrition, livelihoods and other blue economy sectors like tourism. Seychelles’ fishing industry employs 17% of its population.

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Naspers Play to Become South Africa’s Craigslist

Naspers Play to Become South Africa’s Craigslist

By CultureBanx Team

  • Naspers has classifieds businesses in 40 markets

  • The online classifieds market is worth about $24B globally

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Africa’s most valuable company Naspers has evolved from largely being a traditional newspaper media company into an internet conglomerate. Now the company is trying to morph again, this time making a multi-billion dollar bet on the future of publishing.

Why This Matters: Naspers is yet to find similar success in Africa like it has with international investments in companies like Tencent, which they own a 31% stake in. So far, several of its investments on the continent in classified platforms and e-commerce marketplaces, notably including Nigeria’s Konga, have been written off.

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Lost Guap: The Price of Printing Currencies in Other Countries

Lost Guap: The Price of Printing Currencies in Other Countries

By CultureBanx Team

  • Liberia’s central bank lost $104 million worth of banknotes

  • The U.S. prints approximately 7 billion banknotes per year

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Missing cash to the tune of $104 million in Liberia is still unaccounted for, after it was printed overseas and passed through the country's main port and airport. With Africa being the fastest growing region for banknote printing and several countries having this process done outside of their borders, should we care where our money is printed?

Why This Matters: A number of highly specialised companies make cash for most of the world's currencies. Liberia uses outsourced printing for its banknotes simply because it’s expensive and difficult to do within the country. They are also trying to avoid having to keep up with fast moving technological advances to prevent counterfeiting.

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Exxon’s Oil Exploration Ambitions Expand to Mozambique

Exxon’s Oil Exploration Ambitions Expand to Mozambique

By CultureBanx Team

  • ExxonMobil and Rosneft deals expected to draw investments of $700M - $900M

  • Mozambique could become the world’s 4th largest exporter of gas

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The Mozambique government has signed oil exploration agreements with energy firm ExxonMobil (XOM +0.15%) and oil company Rosneft. These deals are expected to draw investments between $700 million and $900 million, as the country expects to become a major exporter of oil and gas.

Why This Matters: Mozambique is looking to tap its oil and natural gas resources to cut its debts. The country’s state-owned oil company Empresa Nacional de Hidrocarbonetos will own stakes of 15% to 30% in the projects. Its government has been in default on their commercial external debt since announcing they wanted to restructure in 2016, so revenues from this deal are desperately needed.

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Coca-Cola Taking Over Nigeria’s Chi Juice

Coca-Cola Taking Over Nigeria’s Chi Juice

By CultureBanx Team

  • In 2016, Coca-Cola bought a 40% stake in Chi juice

  • Nigeria’s population of 190 million lives on less than $2 a day

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Coca-Cola (KO +0.09%) is rapidly making acquisitions that could transform the company and diversify from its core business of sugary sodas. The beverage giant plans to buy-off the rest of Nigeria's Chi juice in 2019 for an undisclosed amount.

Why This Matters: Chi is Nigeria’s largest juice maker, known for its Chivita and Hollandia juice, dairy and yoghurt drinks. In 2016, Coca-Cola bought a 40% stake in Chi with the aim to increase ownership within three years.

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