The Editorial Team |

Woodford Investors Can’t Leave Hargreaves, Rival Platform Says

LONDON (Capital Markets in Africa) – Investors in Neil Woodford’s frozen flagship fund have been prevented from moving their accounts from Hargreaves Lansdown Plc to other investment platforms, according to a competing firm. Woodford shocked the financial world last month when he locked the LF Woodford Equity Income Fund after a run of poor performance. About 133,000 clients have invested a total of just over 1 billion pounds ($1.2 billion) in the fund through the Hargreaves Lansdown platform. The Telegraph newspaper reported the news…

Signs of Gloom Push Pound to Its Lowest Level Since April 2017

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LONDON (Capital Markets in Africa) – The pound slumped to a two-year low as signs of economic downturn mounted in a market increasingly betting that policy makers will have to cut borrowing costs. The currency reached its weakest level since April 2017 as disappointing retail sales and suggestions that the U.K. economy could be set for its worst quarter since 2012 sapped sentiment. The bleak economic outlook is adding to risk factors for sterling, with money markets pricing in…

Mozambique Delays Raising $2.3 Billion for Anadarko Gas Project

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MAPUTO (Capital Markets in Africa) – Mozambique has put on hold plans to raise funds for its portion of Anadarko Petroleum Corp.’s $20 billion gas project, as the government tries to limit its debt sales following a default about three years ago. Empresa Nacional de Hidrocarbonetos EP, the national oil company, will revive efforts to raise $2.3 billion for the liquefied natural gas project probably later in the year, after Anadarko starts implementing it, said ENH Chief…

Deutsche Bank Lured Staff to Florida. What Comes Next Is Secret

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LAGOS (Capital Markets in Africa) – They live in rows of tidy townhouses, setting out early every weekday for a short walk to Deutsche Bank AG’s lush corporate campus. For the closest, it’s just across the street. For the past several years, Deutsche Bank has been persuading harried Wall Streeters to move to Jacksonville, Florida, where it was building out operations to handle more of the firm’s business at a lower cost. Veterans who accepted the posts…

INTO AFRICA July 2019 Edition – Trading Africa’s Prosperity

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Welcome to the July 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: Trading Africa’s Prosperity. Africa is fundamentally a trading continent. The socio-economic structure of most African countries hinges on trade; however, trade still accounts for 51 percent of Africa’s GDP according to World Bank data. The last…

The Fundamental Role of Private Equity

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LAGOS (Capital Markets in Africa) – Investments by private equity funds into companies hold great benefits besides the provision of capital. Private equity investments have a considerable impact in terms of productivity, skills development, job creation, and social impact, as it includes the transfer and exchange of know-how, access to a broader network, and not merely the flow of capital. Private equity fund managers play an active role in managing their investments in companies, with…

Issues and solutions for African trade finance. Are ECAs and DFIs the answer?

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LAGOS (Capital Markets in Africa) – The last few years have proved difficult economically for much of Africa. This, together with political issues (for example in Zimbabwe, South Africa, and Mozambique) and constraints on access to finance, has resulted across much of the continent in a drop off in inward investment levels. In addition, economic growth has not lived up to hope or expectation. This article looks at some of the issues and how certain…

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