Supreme Court Lets Trump Travel Ban Take Full Effect for Now

Supreme Court Lets Trump Travel Ban Take Full Effect for Now

LAGOS (Capital Markets in Africa) – A divided Supreme Court let President Donald Trump’s ban on travel to the U.S. from six mostly Muslim countries take full effect while legal challenges go forward, handing him a major victory and suggesting the court ultimately will uphold the restrictions. Trump will now be able to bar or limit entry by people from the Mideast and North African nations even if they have a relationship with a U.S.-based person…

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Petronas Unit Said to Hold Talks With Shell Operator in Africa

Petronas Unit Said to Hold Talks With Shell Operator in Africa

JOHANNESBURG (Capital Markets in Africa) – Petroliam Nasional Bhd’s South African unit, Engen, is in talks with Vivo Energy Holding BV to combine some of their African fuel-retail assets, according to two people familiar with the matter. The deal would be worth as much as 3.5 billion rand ($256 million), or about 20 percent of Engen’s equity value, said the people, who asked not to be identified as the negotiations are ongoing. Engen, which is 26…

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Togo Agrees to Talks With Opposition After Two-Month Protest

Togo Agrees to Talks With Opposition After Two-Month Protest

LOME (Capital Markets in Africa) – Togo is preparing to hold talks with opposition parties in the West African nation after two months of protests that left several people dead, government spokesman Ihou Yao Atigbe said in a statement he read on state-owned Television TVT. The government also announced the release of 42 opposition supporters arrested during the protests in September and October. “The government therefore hopes that all this will lead the political parties…

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Africa’s oil & gas industry needs to ‘learn to leapfrog’ and harness innovation and technology

Africa’s oil & gas industry needs to ‘learn to leapfrog’ and harness innovation and technology

JOHANNESBURG (Capital Markets in Africa) – The oil & gas industry in Africa continues to face market challenges arising from the low oil price, competition for revenue growth and local talent together with new expectations from investors and regulators. “Africa’s oil & gas industry is experiencing significant change and upheaval. There are fundamental shifts in companies’ strategies, business models and ways of working,” says Chris Bredenhann, PwC Africa Oil & Gas Advisory Leader. The sustained…

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Private Equity funds raise $95bn in third quarter of 2017

Private Equity funds raise $95bn in third quarter of 2017

LAGOS (Capital Markets in Africa) – Research provider Preqin indicated that 181 private equity (PE) funds raised a total of $95.2bn in capital commitments worldwide in the third quarter of 2017, compared to 256 PE funds that raised $137.7bn in the preceding quarter and 232 PE funds that secured $66.6bn in the third quarter of 2016. It pointed out that 45 buyout funds secured $65.9bn during the third quarter of the year, or 69.2% of…

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IMF says rising debt, political risk dim sub-Saharan Africa’s economic outlook

IMF says rising debt, political risk dim sub-Saharan Africa’s economic outlook

LAGOS (Capital Markets in Africa) – Economic growth is expected to rise to 3.4 percent in sub-Saharan Africa next year from 2.6 percent in 2017, the IMF said in a report on Monday, but warned that rising debt and political risks in larger economies would weigh down future growth. Nigeria and South Africa are the biggest economies in Africa south of the Sahara, but both nations have been clouded by political uncertainty linked to the…

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Alexander Forbes Weighs Deals Involving 22 African Targets

Alexander Forbes Weighs Deals Involving 22 African Targets

JOHANNESBURG (Capital Markets in Africa) – Alexander Forbes Group Holdings Limited, a South African provider of retirement, investment and insurance services, said it is sifting through 22 potential targets for deals on the continent as part of an expansion drive to accelerate profit growth. The deals range from small acquisitions and partnerships to “meaningful game changers,” mainly in South Africa, Nigeria, Ghana, Kenya and Morocco, Chief Executive Officer Andrew Darfoor said in an interview at Bloomberg’s Johannesburg offices…

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