Author: The Editorial Team

JOHANNESBURG (Capital Markets in Africa) — Not even a record rally can entice foreign investors to South African gold stocks. With gold prices soaring on the heels of monetary stimulus, shares in producers of the metal are back in favor around the world. But investors are fretting about supply disruptions at South Africa’s mines as a result of soaring Covid-19 infections, according to Benguela Global Fund Managers Ltd. Non-residents sold a net 2.1 billion rand ($128 million) of…

ACCRA (Capital Markets in Africa) — Ghana’s fund managers, unable to access deposits tied-up in failed banks, will receive bonds directly from the government to boost liquidity, according to two people with direct knowledge of the matter. Money managers have been struggling to meet withdrawal requests from customers, cover their costs, or make fresh investments. Their funds are locked up in second-tier lenders that lost their licenses after regulators last year clamped down on smaller…

NAIROBI(Capital Markets in Africa) — The Kenyan shilling slipped to a record low amid increased corporate demand for dollars following the lifting of some government restrictions aimed at controlling the spread of the coronavirus. The currency of East Africa’s largest economy weakened 0.1% to 107.98 per dollar by 10:15 a.m. in the capital, Nairobi, after earlier breaching 108 for the first time. Should it end the day at that level, it would be its lowest…