Media February 2011

Banks Invest in Africa

Barclays Capital and Sumitomo Mitsui Banking Corporation will help finance a $127 million seven-year deal with South Africa’s biggest telecommunications firm, Telkom SA, Engineering News reported on 21 January. The heavily over-subscribed Sinosure-insured Telkom fund will buy materials needed to make mobile phones from Chinese communication-device maker Hauwei Technologies Ltd. Three Chinese banks will put up 70% of the loan.