The Editorial Team |

How Much is the African Gaming Market Really Worth?

The gaming industry is booming. Industry reports reveal that revenue from worldwide gaming reached $135 billion (₦48.7 trillion) in 2018. That number is 10.9% higher compared to 2017, and it speaks to how much the industry is thriving. All three major sectors, in fact, saw marked improvements: mobile revenue rose by 12.8% to $63.2 billion (₦22.8 trillion); PC, by 3.2% to $33.4 billion (₦12 trillion); and the console sector by 15.2% to $38.3 billion (₦14…

Ghana Plans 21% Spending Surge in 2020 as Election Looms

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ACCRA (Capital Markets in Africa) – Ghana will ramp up spending by a fifth next year as it prepares for an election in 13 months. Total expenditure, including the clearance of arrears, is projected at 85.9 billion cedis ($15.5 billion), 21% more than the projected outcome for 2019, Finance Minister Ken Ofori-Atta told lawmakers in his budget presentation on Wednesday. Wages and salaries will make up 27% of that. Capital spending is projected at 9.3 billion cedis,…

Safaricom Sees $1 Billion Price Tag for Ethiopian License

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NAIROBI (Capital Markets in Africa) – Safaricom Plc, Kenya’s biggest company by market value, expects the pricing for new Ethiopian telecommunications permits to liberalize the industry could be as much as $1 billion. The Horn of Africa state is expected to invite bids for two new licenses this month to compete with its monopoly Ethiopian Telecommunications Corp., which is also slated for part privatization in early 2020. The bid for the Ethiopian spectrum could be “quite…

The Moody’s Mystery Is How South Africa’s Rating Held Up So Long

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JOHANNESBURG (Capital Markets in Africa) – For a quarter-century, South Africa has been able to count on an investment-grade rating from Moody’s Investors Service. Bond buyers lately may be forgiven for wondering why. Financial markets have been pricing in a downgrade for months, and the other two major rating companies have had South Africa at junk status for two years. Should Moody’s follow suit, the nation would suffer enormous financial consequences. For one, the country would lose its place…

INTO AFRICA October 2019 Edition – Charting Africa’s Business Terrain

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Welcome to the October 2019 edition of INTO AFRICA, a publication written by the professionals, for professionals, investors, policymakers … Advancing and providing fresh insight into Africa’s emerging markets through renowned thought leadership and peer-to-peer knowledge-sharing. The edition is titled: Charting Africa’s Business Terrain. Africa’s business potential is tremendous and in various sectors, including energy, infrastructure, agriculture, natural resources, and information and communications, offering opportunities for investors. However, these business opportunities come with many challenges…

Helios Towers Finishes London Debut Strong After Muted Start

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LONDON (Capital Markets in Africa) – Helios Towers Ltd. rose 5.7% on its first day of trading after the company raised 288 million pounds ($364 million) in a long-delayed initial public offering that gives investors a foothold in Africa’s fast-growing wireless tower industry. Shares in the company that was backed by billionaire financier George Soros priced at 115 pence apiece, the bottom of the range, before closing at 121.50 pence. After a subdued start to the…

Ethiopia Uses Drones in Bid to Move From Famine to Food Security

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ADISS ABABA (Capital Markets in Africa) – A former JPMorgan Chase & Co. analyst is using drones and satellites to boost Ethiopia’s agricultural exports and improve food security in a nation once synonymous with famine. Africa’s second-most populous country still struggles to feed itself. But now the government’s Agriculture Transformation Agency, headed by Khalid Bomba, is aiming for widespread commercial farming and food security in 20 years. It’s modeling itself on initiatives in South Korea and Taiwan….

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