The Editorial Team |

Africa’s iGaming Market to See Explosive Growth in the Coming Years

LONDON (Capital Markets in Africa) – The first iGaming business emerged sometime in the mid-1990s when a pair of young entrepreneurs merged their homegrown secure online payment solution with the allure of casino games to create the first online casino. Since then, iGaming has grown into a multi-billion dollar business, shedding many of its early issues with bad actors and flawed regulations, even breaking into markets that are too conservative for them (think of the…

Lagos Stock Rally Shows How Search for Yield Outweighs Oil Moves

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LAGOS (Capital Markets in Africa) – The best rally in Nigerian stocks since mid-2017 is underscoring how much more attention investors in Africa’s largest oil producers are paying to the quest for returns rather than worrying about the price of crude. The Nigerian Stock Exchange All Share Index edged 0.1% higher on Friday, bringing its advance this week to more than 9%. The gains, the best performance by any of the more than 90 global…

Investments / Markets Investors’ guide to 2020: Markets upbeat, but storm clouds gathering

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Despite various geopolitical and economic challenges at the beginning of 2019, markets managed to deliver very strong returns for the year. And investors will be relieved to see that equity markets look set to start 2020 on a slightly better footing, as many of these uncertainties have been addressed to some extent over 2019. However, the US-China trade war tensions have still not reached a resolution, global recession warning lights remain flashing and geopolitical risks…

South Africa Risks Becoming a ‘Forgotten Country,’ RMB CEO Says

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JOHANNESBURG (Capital Markets in Africa) – South Africa must move quickly to implement the reforms needed to salvage its status as an investment destination and breathe life into the struggling economy. “SA is rapidly becoming a forgotten country and has stopped being talked about as an investment destination,” James Formby, the chief executive officer of FirstRand Ltd.’s Rand Merchant Bank, wrote in Johannesburg-based newspaper Business Day. “It’s no longer five to midnight, it is midnight. We cannot…

Stocks Advance as Mideast Fears Ease; Gold Slides: Markets Wrap

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LONDON (Capital Markets in Africa) – Stocks rose across Europe and Asia and U.S. equity futures climbed on Thursday, extending a relief rally after America and Iran appeared to step back from a deeper military conflict. The yen and gold declined and oil steadied after a plunge. The Stoxx Europe 600 Index was on course for a third day rising as every major national benchmark increased. Contracts on the S&P 500 pointed to further gains…

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ABIDJAN (Capital Markets in Africa) – NSIA Group’s banking unit plans to expand in the 12 West and Central African countries where the Ivorian company has insurance businesses. NSIA Banque first wants to establish a firm presence in the West African Economic and Monetary Union before looking “outside the zone,” Managing Director Leonce Yace said in an interview at the bank’s headquarters in Abidjan, the economic capital of Ivory Coast. The lender recently completed the acquisition…

South Africa Business Confidence Fell to Three-Decade Low in 2019

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JOHANNESBURG (Capital Markets in Africa) – South African business confidence slumped to the lowest in 34 years in 2019 as the country faced power cuts, delays in policy implementation, deteriorating public finances and the risk of losing its only remaining investment-grade credit rating. A sentiment index compiled by the South African Chamber of Commerce and Industry showed business confidence declined to an average of 92.6 from a two-year high of 95.5 in 2018, according to…

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