The Editorial Team |

Nigeria Starts Stock Lending With 20.8 Million Shares Available

LAGOS (Capital Markets in Africa) – The Nigerian Stock Exchange started lending and borrowing of shares as it seeks to reignite liquidity in Africa’s third-biggest bourse by listings. A combined 20.8 million shares are available, with Guaranty Trust Bank Plc, the nation’s biggest lender, providing 8.4 million, according to a statement on the Lagos-based NSE’s website. Nigeria’s Securities and Exchange Commission last year announced plans for securities lending, short-selling and hedging to attract inflows. Trading volumes on the…

Ghana Names JPMorgan Among Banks to Sell $3 Billion in Bonds

Posted on by The Editorial Team

ACCRA (Capital Markets in Africa) – Ghana named five banks including JPMorgan Chase & Co. to market a sale of as much as $3 billion in Eurobonds by the first week of February, according to a person familiar with the matter. The four other main advisers are Bank of America Merrill Lynch, Morgan Stanley, Standard Chartered Plc and Standard Bank Group Ltd., said the person, who asked not to be identified because they’re not authorized…

Lesotho Premier to Resign as Police Probe Wife’s Murder

Posted on by The Editorial Team

LAGOS (Capital Markets in Africa) Lesotho’s prime minister said he intends to step down, following increased calls for his resignation over the murder of his second wife, which police have linked to the woman he married a little over two months later. Thomas Thabane, 80, was inaugurated as prime minister of the tiny African mountain kingdom two days after his second wife was shot in June 2017. He previously held the post from 2012 to…

Damaged Subsea Cables Slow Down Internet in African States

Posted on by The Editorial Team

LAGOS (Capital Markets in Africa) -Internet users across more than a dozen sub-Saharan African nations suffered slow service after two undersea cables to the continent’s western coast were damaged this week. The so-called WACS and SAT3/WASC cable systems are in the Atlantic Ocean and connect South Africa and many other African countries to Europe, Openserve, a unit of South Africa’s biggest fixed-line telecommunications provider, Telkom SA SOC Ltd., said. At least 12 countries besides South Africa…

Here Are the Emerging Bonds to Watch If Oil Spikes Again

Posted on by The Editorial Team

LAGOS (Capital Markets in Africa) – The quick recovery in emerging-market bonds this month suggests investors aren’t concerned about a further escalation in Middle East tensions. But those worried about a renewal of hostilities should seek out Russian and Thai exposure and avoid securities from Turkey and South Africa, according to a Bloomberg analysis. A study of the relationship between outsized surges in crude prices and moves in 11 emerging market five-year bond spreads over…

African Amazon Jumia Has Five Quarters to Win Over Investors

Posted on by The Editorial Team

LAGOS (Capital Markets in Africa) – Jumia Technologies AG has given itself five quarters to convince investors that the Africa-focused e-commerce firm is on a path toward profitability. The company is looking to claw its way back after watching its shares drop about 58% since a high-profile U.S. initial public offering in April. The company will spend the next four or five quarters investing in technology, marketing, and operations teams, Co-Chief Executive Officer Sacha Poignonnec said…

What African Central Banks Will Discuss in the Next 2 Weeks

Posted on by The Editorial Team

LAGOS (Capital Markets in Africa) – Central bankers in sub-Saharan Africa are likely to focus more on domestic factors than global developments when they decide on interest rates in the next two weeks. Most will likely opt to pause. Since the monetary policy committees of some of the region’s key economies last met, data showed that South Africa’s economy contracted in the third quarter, Nigerian food inflation quickened due to border closures and in Ghana,…

« 1 … 223 224 225 226 227 … 1,072 »