The Editorial Team |

CDC Made Wrong Call on Investment in Kenyan Cement Maker ARM

NAIROBI (Capital Markets in Africa) – CDC Group Plc misjudged the potential of Kenyan cement maker ARM Cement Plc when agreeing to invest $140 million almost three years ago, and is banking on the prospect of an acceptable buyout offer in a forthcoming auction. The U.K. investment firm allocated over half of its Kenyan portfolio to ARM to back an expansion into Tanzania and the development of a potential East African regional champion, Chief Executive Officer Nick…

Nigeria Leads Effort for $9 Billion African Energy Plan

Posted on by The Editorial Team

LAGOS (Capital Markets in Africa) – Nigeria is leading a continent-wide drive to raise as much as $9 billion to help African nations fund projects including oil exploration, refineries and pipelines, the country’s oil minister said. Africa’s largest oil producer is working with more than a dozen other nations grouped under the African Petroleum Producers Organization, or APPO, to raise $1 billion in start-up funding for the African Energy Investment Corp., Minister of State for Petroleum…

Gemfields Reaches Settlement Over Mozambique Rights Abuse Case

Posted on by The Editorial Team

MAPUTO (Capital Markets in Africa) – Gemfields Group Ltd., the owner of colored gemstone mines and maker of Faberge jewelry, has agreed to a 5.8 million pound ($7.6 million) settlement with a group of Mozambicans who said they suffered rights abuses around the company’s ruby mine in the north of the country. London-based law company Leigh Day last year brought a claim on behalf of the 273 people who lived near the Montepuez Ruby Mining…

Is South African Clothing Retailer Edcon Too Big to Fail?

Posted on by The Editorial Team

JOHANNESBURG (Capital Markets in Africa) – South Africa’s national power utility’s woes have threatened to shut down industries, while the flagship airline has received repeated bailouts to keep it afloat. Now, a scramble to help a retailer that sells school shoes and fast fashion suggests it, too, may to be seen as too big to fail. Edcon Holdings Ltd. has 30,000 employees, a supply chain that includes 750 companies and floor space that accounts for a…

Fleeing Investors, Unloved Malls Plague Top U.K. Property Funds

Posted on by The Editorial Team

LONDON (Capital Markets in Africa) – Mom-and-pop investors are fleeing U.K. property funds at the fastest pace in more than two years, roiling an almost $24 billion-corner of the money management industry. Withdrawals from the biggest U.K. property funds accelerated in the final months of 2018 as the global equity market rout added to worries about Brexit and the floundering retail sector. That’s forcing several funds, including those managed by Standard Life Aberdeen Plc and Nuveen LLC, to sell real…

World’s Most Hated Stocks Won’t Be Saved by Brexit Delay

Posted on by The Editorial Team

LONDON (Capital Markets in Africa) – It may take more than a delay in Brexit to lure foreign funds back to U.K. stocks, a market that’s been deemed by some strategists as “uninvestable.” No matter that banks from Citigroup Inc. to JPMorgan Chase & Co. have touted U.K. shares, and no matter their cheap valuations. The country remained the most hated region in Bank of America Merrill Lynch’s global fund manager survey in January, with…

Here’s What FX Traders Should Watch as May Faces Brexit Votes

Posted on by The Editorial Team

LONDON (Capital Markets in Africa) – The pound is vulnerable to swings Tuesday as traders tweak positions ahead of votes by lawmakers to change Theresa May’s Brexit deal. The currency could climb to levels not seen in six months if Parliament votes to accept what has come to be known as the Cooper-Boles amendment, which seeks to defer Britain’s departure from the European Union should the prime minister not win approval for her deal by a…

« 1 … 402 403 404 405 406 … 1,077 »