The Editorial Team |

Private equity funds raise $426bn in 2018

LAGOS (Capital Markets in Africa) – Research provider Preqin indicated that 1,175 private equity (PE) funds raised a total of $426bn in capital commitments worldwide in 2018, compared to 1,670 PE funds that raised $565.8bn in 2017. Also, it said that 214 buyout funds raised $229bn in 2018, or 53.8% of total capital commitments, followed by 605 venture capital funds with $78.9bn (18.5%) in raised capital, 155 growth funds with $59.1bn (13.9%) in capital commitments,…

Ramaphosa Sets Out Plans to Revive South African Economy

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JOHANNESBURG (Capital Markets in Africa) – South African President Cyril Ramaphosa unveiled plans to revive the flagging economy and create jobs, including removing obstacles to investing and doing business, attracting more tourists, and stepping up the fight against graft. “We are undaunted by the considerable difficulties we have yet to overcome,” Ramaphosa said in his annual State-of-the-Nation address in Parliament in Cape Town on Thursday. “Above everything else, we must get our economy working again.” The keynote…

RioZim Halts Output as Central Bank Fails to Make Payments

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HARARE (Capital Markets in Africa) = RioZim Ltd. halted production at its three gold mines after Zimbabwe’s central bank failed to provide foreign currency the company needs to keep operating. The shutdown is the second by RioZim since October. It’s the latest indication of how businesses are struggling to keep going as a dearth of foreign exchange causes shortages of food and fuel in the southern African nation. RioZim said it suspended output after the central…

Ghana May Auction Eurobonds With or Without Final IMF Review

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JOHANNESBURG (Capital Markets in Africa) – Ghanaian Finance Minister Ken Ofori-Atta said the country could proceed with a sale of Eurobonds even before the International Monetary Fund completes a final review of the nation’s extended credit-facility program. The finance ministry will next week name transaction advisers for a planned issuance of as much as $3 billion, after which the lenders will test investors’ appetite for a sale, Ofori-Atta said Friday in an interview in the capital, Accra. “After…

Mandela’s Widow to Credit Suisse: Write Off Mozambique Debt

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MAPUTO (Capital Markets in Africa) – Mozambique shouldn’t repay any of the loans it got from Credit Suisse AG as part of a $2 billion sovereign debt scandal that’s seen three former employees and an ex-finance minister arrested, a group of non-governmental organizations said. “We demand that Credit Suisse publicly declare that the Mozambican people should not pay a single cent on those debts,” the group said in a letter to the bank signed by…

INTO AFRICA February 2019 Edition – Eye on Africa’s Economy in 2019

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Wish you a prosperous year 2019 and welcome to the February 2019 edition of the INTO AFRICA – the publication with fresh insight into Africa’s emerging markets. This edition provides insight and foresight into African economies from economists and analysts, hence the edition titled: Eye on Africa’s Economy in 2019. The African region faced a tougher external environment in 2018 due to moderating activity and heightened risks clouding global economic prospects. International trade and investment have softened, trade…

Rand Offers Zimbabwe Economy Salvation, Ex-Finance Minister Says

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JOHANNESBURG (Capital Markets in Africa) – Zimbabwe should adopt South Africa’s rand as its currency, one of a series of fundamental reforms needed to restore economic stability in the country, former Finance Minister Tendai Biti said. His call is an endorsement of government efforts to link Zimbabwe’s economy to neighbouring South Africa’s currency as it grapples with a foreign-exchange shortage that’s spawned the fastest price increases since hyperinflation a decade ago. Zimbabwe abolished its own currency in…

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