The Editorial Team |

Kenya’s Central Bank Holds rate at 10.0 percent, Likely to Sell Dollars

NAIROBI (Capital Markets In Africa) – At its Monetary Policy Committee meeting this month, Kenya’s central bank held its rate at 10.0 percent. Its Monetary Policy Committee will next meet to set lending rates on Sept.18. While the currencies of Kenya, Nigeria and Tanzania are expected to hold steady, traders said Uganda’s shilling and Zambia’s kwacha are forecast to weaken against the dollar in the next week to Thursday, while Ghana’s cedi will firm. KENYA…

Kenya’s EABL to convert Tanzania unit loan into equity

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NAIROBI (Capital Markets in Africa) – Kenya’s East African Breweries said it would convert a loan to its Tanzanian business into equity, after reaching a settlement with the competition authority that had been investigating the transaction. Tanzania’s Fair Competition Commission (FCC) threatened to revoke EABL’s 51 percent stake in Serengeti Breweries in 2015, accusing the Kenyan firm of not meeting several conditions. It did not make those conditions public. “In early June, we managed to…

Abraaj Group says plans to buy Kenyan coffee chain Java House

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NAIROBI (Capital Markets in Africa) – The Abraaj Group (Abraaj or the Group), a leading investor operating in growth markets, announced today it has entered into a definitive agreement to purchase, through its Funds, 100% of Java House Group (Java House or the Company), East Africa’s leading coffee-led casual dining chain, from private equity firm Emerging Capital Partners (ECP), and the Company’s founder and chairman, Kevin Ashley. Java House Group was established in Nairobi in…

Barclays Sells Zimbabwe Bank to Malawi’s First Merchant

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JOHANNESBURG (Capital Markets in Africa) – Barclays has announced the sale of its Zimbabwe bank to Malawi-listed First Merchant Bank on Friday as the British lender continues its exit from Africa. In March Barclays announced it was in talks on the sale of its stake in Barclays Bank of Zimbabwe as part of a broader exit from Africa to refocus on the United States and Britain. Barclays said the deal would remove 292 million pounds ($375.69 million)…

Nigerian Insurance Industry: Overview, Challenges and Opportunities

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Despite the lingering apathy for Insurance by the Nigerian populace, driven largely by cultural & religious beliefs, the Industry remains resilient, recording a compounded annual growth rate (CAGR) of 10.2% in gross premium Income (GPI) since 2012. In 2016, the Industry’s GPI grew by an estimated 10% to ₦356 billion[1]. Growth was upheld by the enforcement of compulsory insurance policies, particularly in the group life and motor insurance business lines. However, the Industry’s performance was…

Emerging Economies are at the forefront of Moving the World to a Climate-Resilient Clean Economy

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LAGOS (Capital Markets in Africa) – Emerging economies are increasingly taking the lead in shifting the world onto a cleaner development path, a senior World Bank official said on Wednesday, pointing to the role of China, India and Africa’s Ethiopia in pushing down the cost of producing solar power. John Roome, senior director for climate change at the World Bank, said India had evolved from a decade ago when it was seen as part of the…

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