Author: The Editorial Team

JOHANNESBURG (Capital Markets in Africa) – The challenges to South Africa’s credit outlook was highlighted by President Cyril Ramaphosa’s state-of-the-nation address, Fitch Ratings said. While Ramaphosa promised progress in his speech on Thursday, he offered only partial detail on key policy areas, including stabilizing the electricity sector, improving public finances, accelerating economic growth and land reform, the rating company said in an emailed statement on Friday. Ramaphosa announced changes to the nation’s electricity industry to…

LAGOS (Capital Markets in Africa) – Sibanye Gold Ltd. said it swung to an annual profit last year, bringing the company another step closer to resuming dividend payouts. Sibanye is among South African producers benefiting from a rally in platinum, palladium and rhodium prices and a weaker South African rand that lowers costs for producers. Chief Executive Officer Neal Froneman said last month Sibanye may declare its first dividend in three years in August. The world’s largest platinum miner expects…

JOHANNESBURG (Capital Markets in Africa) – Gabon may issue another Eurobond before the end of the year as it looks for ways to lower the cost of its debt. OPEC’s second-smallest oil producer issued Africa’s first Eurobond of 2020 last month. The government will monitor how the market performs in six months and then assess its needs, Finance Minister Jean-Marie Ogandaga said by phone from the capital, Libreville. Gabon went to the market asking for…