The Editorial Team |

Barclays Ex-Chief Diamond Replaced in Atlas Mara Shakeup

LAGOS (Capital Markets in Africa) – Bob Diamond, the financier who once ran Barclays Plc, is stepping down as executive chairman of his African banking venture as it reviews assets and seeks to exit some countries. He will be replaced by Michael Wilkerson, the chairman of Fairfax Africa Holdings Corp., which owns 49 percent of the firm, but will stay on as a non-executive director, Atlas Mara said in a statement on Wednesday. Diamond wants to “increase his…

Blackstone Pulls Back From Africa on Black Rhino Sale Plan

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KINSHASA (Capital Markets in Africa) – Investment firm Blackstone Group LP is scaling back its bet on Africa, almost five years after it made a commitment to spend billions of dollars alongside the continent’s richest man. The world’s largest alternative-investment manager is in the process of selling its Africa subsidiary Black Rhino Group back to management, according to a person familiar with the deal, who asked not to be identified because the discussions are private. The unit…

EUROMONEY BRINGS FINANCE, INVESTMENT AND BUSINESS LEADERS TO MOROCCO

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Rabat, Morocco: 31 January 2019: Euromoney Conferences, a leading organiser of conferences for cross-border investment and capital markets, will hold its inaugural Euromoney Morocco Conference in Rabat on 19 February 2019. A diverse line-up of domestic and international speakers will discuss Morocco’s financial sector development and huge potential for investment, growth and trade in front of 200 C-suite delegates. The event will highlight the ambitions of the government and business leaders to position the country…

Zimbabwean President Invites Opposition Leaders for Talks

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HARARE (Capital Markets in Africa) – Zimbabwe President Emmerson Mnangagwa invited opposition leaders for talks after a violent crackdown on anti-government protests over an economic crisis. The meeting will take place on Wednesday at State House in the capital, Harare, Madock Chivasa, a spokesman for the opposition National Constitutional Assembly, said by phone. Political leaders who contested last year’s presidential elections can bring three delegates and those who won seats in parliament may be accompanied by an…

Tanzania May Renegotiate Gas Contracts It Deems Unfavorable

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DAR ES SALAAM (Capital Markets in Africa) – Tanzania said it might renegotiate natural gas contracts if its review finds terms agreed as far back as two decades unfavorable to the East African nation. The assessment of 11 agreements started two months ago and is the latest in a series of measures by President John Magufuli’s government to secure more revenue from the country’s resources. Tanzania has 58 trillion cubic feet of natural gas reserves, some…

Emerging Markets Growth at 4.5% in 2019, varies across regions

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LAGOS (Capital Markets in Africa) – The International Monetary Fund projected real GDP growth in emerging markets and developing economies at 4.5% in 2019, down from its October 2018 forecast of 4.7%, and compared to growth rates of 2% for advanced economies and 3.5% for the global economy. In comparison, it estimated the emerging markets and developing economies’ real GDP growth at 4.6% in 2018. It noted that emerging markets and developing economies have faced challenging external conditions in the past few…

Brexit Barometer Hits 67-Month Low, Falls to ‘Rainy’ Territory

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LONDON (Capital Markets in Africa) – The new year was meant to be a time for final preparations for Brexit, officially slated for March 29. Instead, the U.K. Parliament has yet to approve the divorce accord that Prime Minister Theresa May brought back from Brussels. That’s caused fears of a no-deal exit to ripple dangerously through the real economy, according to the Bloomberg Brexit Barometer. The gauge’s monthly reading fell to a “rainy” minus 7.1 last…

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