The Editorial Team |

Mozambique to Finally Restructure Eurobonds by End-September

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…

Tough Brexit Talk But Neither Side Has Given Up on Breakthrough

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LONDON (Capital Markets in Africa) – Angela Merkel’s challenge to Boris Johnson to find a Brexit solution in the next 30 days sounds impossible. But while both sides are talking tough, officials in private say there’s still time to salvage a deal. The latest person to sound skeptical about the British prime minister’s chances of taking the U.K. out of the European Union with an agreement was a senior French official close to President Emmanuel Macron. A no-deal…

Amazon Spends $15 Billion to Help Merchants in Charm Offensive

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NEW YORK (Capital Markets in Africa) – Amazon.com Inc., criticized for wielding too much power over third-party merchants on its marketplace, said it will spend some $15 billion this year to help them boost sales. The sum, which Amazon hasn’t previously disclosed, includes spending on the portions of the company’s warehouse network dedicated to storing and shipping seller items, and salaries for the engineers, managers and support staff who work on teams geared toward Amazon’s…

Hedge Fund Outflows of $55.9 Billion Make Dismal 2018 Look Good

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NEW YORK (Capital Markets in Africa) – Hedge funds have already bled 50% more money this year than in all of 2018, as the industry struggles to win back investors fed up with high fees and poor performance. Investors yanked $8.4 billion in July, bringing net outflows this year to $55.9 billion, according to an eVestment report on Thursday. That’s up from $37.2 billion for all of last year. Investors’ frustration with hedge funds continues to…

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