The Editorial Team |

Jihadist Threat Prompts Ivory Coast, Ghana to Raise Guard

ABIDJAN (Capital Markets in Africa) – Some of West Africa’s biggest economies are increasingly vulnerable to attacks by Islamist militants, whose influence is spreading to the inland borders of coastal nations. Heavyweights Ghana and Ivory Coast as well as smaller neighbors Benin and Togo are strengthening security along their boundaries with Burkina Faso, which has seen a surge of attacks by al-Qaeda and Islamic State-linked insurgents this year. The raids have spread so fast that…

South Africa’s Rand Steady as Traders Wait for Poll Dice to Stop Rolling

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JOHANNESBURG (Capital Markets in Africa) – The rand traded in a narrow range as South Africa’s election results continued to trickle in, but don’t be fooled: the currency could tip either way as the final balance of power becomes clear. With less than half the votes counted, the ruling African National Congress has a strong lead, though with reduced majority compared with the previous election. The picture could change as results from outlying rural districts —…

Steinhoff Casts Doubt on Future as Writedowns Hit $17 Billion

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JOHANNESBURG (Capital Markets in Africa) – The global retailer at the center of South Africa’s biggest corporate scandal cut the value of its assets by 15.3 billion euros ($17 billion) because of accounting irregularities. The company also warned it won’t be able to keep going longer than 12 months unless its debt is reorganized and it skirts mounting lawsuits and possible regulatory fines. At risk is a business with 120,000 employees across chains including Mattress…

Sonangol Boss Fired by Angola’s President as Fuel Runs Dry

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LUANDA (Capital Markets in Africa) – Angolan President Joao Lourenco fired Sonangol EP Chairman Carlos Saturnino as he revamps the company amid persistent fuel shortages in the southern African nation. The presidency appointed Gaspar Martins to lead the state-owned company with a new board after incumbent members were dismissed, according to a statement late Wednesday. Lourenco met with oil industry officials on Tuesday, vowing to end shortages at gas stations across the country that imports almost all of its fuel. Lourenco…

Nigeria’s Buhari Nominates Emefiele for Second Term as Governor

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LAGOS (Capital Markets in Africa) – Nigerian President Muhammadu Buhari nominated central bank Governor Godwin Emefiele for a second five-year term in office, making the 57-year-old former bank chief executive the first to have his term renewed since 1999. Senate President Bukola Saraki read Buhari’s choice of Emefiele to lawmakers on Thursday. His appointment is subject to the Senate’s approval. His first five-year tenure ends this month and Buhari’s decision to give him a second…

Towards an Enabling Legal and Regulatory Framework for Private Equity and Venture Capital in Nigeria

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LAGOS (Capital Markets in Africa) – Research and data from private equity industry associations such as the Emerging Markets Private Equity Association (EMPEA), the African Venture Capital Association (AVCA) and the Private Equity and Venture Capital Association (PEVCA) highlight the impact of challenges including global commodity price fluctuation, foreign exchange volatility, security and insufficient diversification of the economy, among other factors, on the pace of activity in the Nigerian private equity and venture capital (PE)…

INTO AFRICA May 2019 Edition – Private Equity: Nurturing Africa

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Welcome to the May 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: Private Equity: Nurturing Africa. African private equity (PE) has remained robust with the total value of fundraising increasing to US$2.7bn in 2018 from US$2.4bn in 2017, indicating investors’ ongoing confidence in African PE, based on…

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