The Editorial Team |

Biden Win Emboldens Bulls as Emerging Markets Signal Buy

LAGOS (Capital Markets in Africa) — The emerging-market bargain-buyers are in celebration mode. And the party’s not over yet. The prospect of a Joe Biden presidency checked by a divided Congress has gotten everyone from Eaton Vance Corp. to Medley Global Advisors predicting a fresh boost for risk assets, just a week after the stocks, currencies and bonds of developing nations hit the buffers as the U.S. election approached. BlackRock Inc. says developing-nation assets, which look more…

INTO AFRICA Sep-Oct 2020 Edition – Africa Economy: A Tipping Point

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Welcome to the Sep/Oct 2020 edition of INTO AFRICA, a publication written by professionals, for professionals, investors, policymakers … We Advance and provide fresh insights into Africa’s emerging markets through renowned thought leadership and peer-to-peer knowledge sharing. This edition is titled: Africa Economy: A Tipping Point. The coronavirus pandemic (COVID-19) has splintered the world economy, exposing social responsibility and governance fault lines across continents. The substantial shifts in society, its institutions and individuals during the…

SocGen Advising Total on $3.2 Billion Mozambique LNG Import Plan

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LAGOS (Capital Markets in Africa) — Societe Generale SA will act as financial adviser to Total SE and Gigajoule Group on their planned liquefied natural gas import terminal and power plant near Mozambique’s capital, Maputo. The developers expect to reach a final investment decision next year, Gigajoule Chief Executive Officer Johan de Vos said in a reply to questions. The French oil major and the Centurion, South Africa-based energy company plan to spend as much as $3.2…

Ghana Misses Out on African Bond Rally on Election Concerns

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ACCRA (Capital Markets in Africa) — Ghana is missing out on a rally of African bonds as investors fret about an expansion in spending and borrowing ahead of elections in December. The elevated borrowing to cover the spending shortfall has seen the country’s three-year and longer-dated local bond yields rise on the secondary market even as those of its peers on the continent are falling. This is likely to increase future cost of issuing new…

Citigroup Hunts Growth in Emerging Markets as Rivals Retreat

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LAGOS (Capital Markets in Africa) — Citigroup Inc. plans to deepen its corporate banking presence in developing countries from Russia to South Africa even as some rivals decamp to focus on their home markets. The lender has overhauled its business in eastern Europe, the Middle East and Africa to focus on emerging economies. The third-largest U.S. bank is betting unprecedented deal opportunities will follow the economic slump caused by the coronavirus pandemic, weak oil prices…

World Bank Talks With South Africa Stall on State Firm Aid

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JOHANNESBURG (Capital Markets in Africa) — The World Bank has told South Africa’s government it has to cut its wage bill to qualify for a loan of as much as $2 billion and doesn’t want the money used to bail out insolvent state companies, a person familiar with the situation said. Those conditions have stalled negotiations on the loan that began in April, the person said, asking not to be identified because the content of…

What Young Protesters in Nigeria Are So Angry About: QuickTake

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LAGOS (Capital Markets in Africa) — Nigeria has been rocked in October by some of the biggest protests since military rule ended in 1999, resulting in dozens of deaths and rattling what had been considered a virtually unassailable political establishment. Thousands of youths have taken to the streets to vent their anger about police brutality by marching, barricading roads and bridges and setting buildings and vehicles alight. The authorities initially struck a conciliatory tone and…

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