The Editorial Team |

Cash-Starved Ghana Fund Managers Face 20-Fold Capital Hike

ACCRA (Capital Markets in Africa) – Caught in a crisis in which they’re unable to meet client withdrawals, Ghana’s fund managers will be forced to set aside 20 times more capital than they do now to avoid running out of cash again. The Securities and Exchange Commission will require money managers to increase their minimum capital reserves to 2 million cedis ($365,260) from the current 100,000 cedis, Director General Daniel Ogbarmey Tetteh, said by phone from…

Imperial Logistics Seeks Partner for African Freight Expansion

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JOHANNESBURG (Capital Markets in Africa) – Imperial Logistics Ltd. is looking to expand into air and sea transportation as the Africa-focused logistics group offers more services to multinationals with sales on the continent. The Johannesburg-based company delivers goods for the likes of U.K. drugmaker GlaxoSmithKline Plc and Dutch brewer Heineken NV mainly via land routes to countries in sub-Saharan Africa. Now, it wants to add the ability to pick up products from manufacturing sites in Asia to complete the…

Ghana Money Manager Splits Mutual Funds From Riskier Investments

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ACCRA (Capital Markets in Africa) – A Ghana money manager is splitting its mutual-fund business from investments tied up in a structured-finance fund that is being shut down amid a cash crunch in the industry. BlackShield Capital Management Ltd., formerly known as Gold Coast Fund Management Ltd., is seeking to protect unit-trust investors by shifting the assets and liabilities in the structured-finance fund to a special purpose vehicle, the Accra-based firm said in a statement…

Mozambique to Finally Restructure Eurobonds by End-September

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MAPUTO (Capital Markets in Africa) – Mozambique plans to finally conclude restructuring its dollar bonds by the end of September, nearly three years after first announcing the proposal. The southeast African nation has asked bondholders of $727 million of debt due 2023 to exchange it for $900 million of notes maturing five years later. That’s mainly because the government expects it will have started earning revenue from Africa’s largest liquefied natural gas project, and won’t have…

Zimbabwe’s Import Bill Shows Efforts to Stock Pumps and Shelves

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HARARE (Capital Markets in Africa) – Fuel and food dominate Zimbabwe’s import bill, showing the government’s efforts to keep the economy running and store shelves stocked. Zimbabwe imported almost $80 million’s worth of diesel last month, 30% less than in June, according to data published by the Zimbabwe National Statistics Agency. Diesel remains Zimbabwe’s biggest import, followed by unleaded gasoline, durum wheat and electricity. The country is buckling under an economic crisis compounded by the…

South Africa’s Youth Are Deserting the Party of Nelson Mandela

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JOHANNESBURG (Capital Markets in Africa) – Twenty-five years after the African National Congress ended apartheid, it faces being brought down by an increasingly young and urbanized electorate. In the South African township where Nelson Mandela joined the struggle against apartheid, Lordwick Nxumalo is reduced to hustling for a living. Each day, he and other young jobless men of Soweto hang around on Walter Sisulu Square, waiting to take passport pictures for documents like driving licenses….

IWG, The Leading Flexible Workspace Provider Launches Franchise Opportunity in Africa

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Franchise opportunities – Africa’s economy will grow faster than any other continent’s over the next five years and flexible working is a huge part of that future International Workplace Group (IWG plc) this month announced the expansion of the first flexible office space franchise opportunity in Africa. The company is currently seeking driven multi-brand franchise operators, landlords, private equity firms and high net-worth individuals to seize the opportunity to buy into the lucrative flexible working…

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