The Editorial Team |

Turkey Goes Looking for Energy in Contested Mediterranean

LAGOS (Capital Markets in Africa) – Turkey’s first deep-sea drilling ship, flanked by Turkish war vessels, set sail Tuesday looking for natural gas and oil in contested waters of the Mediterranean, a launch liable to exacerbate longstanding tensions with Greece. The Fatih, named after the conqueror of Constantinople, or modern-day Istanbul, will operate some 60 nautical miles off the Turkish coast in or around the disputed area. The Eastern Mediterranean has become a gas hot…

Existential Crisis’ for Gold Miners to Spur Deals, CEO Says

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JOHANNEBURG (Capital Markets in Africa) – The global gold industry is ripe for consolidation as it’s facing a crisis because of dwindling reserves, according to David Garofalo, head of Goldcorp Inc., who flagged the potential for more deals little more than a month after Barrick Gold Corp.’s merger with Randgold Resources Ltd. “Right now, as an industry, we’re facing an existential crisis because reserves are declining and have declined rapidly,” Garofalo said in a Bloomberg TV interview…

Steinhoff Is Said to Consider Sale of $907 Million Properties

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JOHANNEBURG (Capital Markets in Africa) – Steinhoff International Holdings NV is considering the sale of properties within French furniture chain Conforama, the latest move by the embattled retailer to shore up its balance sheet, according to people familiar with the matter. The value of the portfolio is about 800 million euros ($907 million), said the people, who asked not to be named as the information isn’t public. The properties are held outside European real-estate subsidiary Hemisphere,…

INTO AFRICA October 2018 Edition – Digitalization: Africa’s Future

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Welcome to the October 2018 edition of INTO AFRICA, a publication with fresh insight into Africa’s emerging capital markets. This month’s edition, titled: Digitalization: Africa’s Future. Across Africa, eCommerce platforms flanked by payments, logistics, tourism and big data partners are starting to lift national economies. Technological disruption is transforming markets and societies across Africa in ways that wouldn’t have been possible even five years ago. And this opens huge and still largely untapped commercial potential for domestic and international…

Shell Tries to Come Clean on Its Dirty Past in Nigeria

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LAGOS (Capital Markets in Africa) – As the company moves away from oil, it can’t shake its years’ operating in the pollution- and graft-ridden nation. Perched in a helicopter sweeping over the mangrove forests of the Niger Delta, a photographer named Casey is looking for trouble. And she finds it, down among a cluster of tree trunks stained with crude. A faint disturbance in a jungle clearing turns out to be a group of men…

With Accelerating the Economic Potential of Islamic Finance in Africa, the Prospects for Islamic Finance in Africa Look Increasingly Promising

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Driving New Growth Momentum in Africa, the Islamic finance industry in Africa is fast gaining the attention of key stakeholders including central banks & regulatory authorities, as well as the leading international Islamic financial institutions and investors seeking to tap into high-growth opportunities on the continent October 2018, DJIBOUTI: The footprint of Islamic banking in Africa is set to expand further as the continent seeks to deliver on the economic and strategic opportunities provided by…

Kenyan Economy Expands at Fastest Pace in 2 Years on Farming

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NAIROBI (Capital Markets in Africa) – Kenya’s economy expanded at the fastest pace since the second quarter of 2016 as the nation reaps the benefits of a rebounding farm sector. Gross domestic product in East Africa’s biggest economy rose 6.3 percent in the three months through June, from 5.7 percent in the previous quarter, the Kenya National Bureau of Statistics said Friday in a statement emailed from Nairobi, the capital. That was higher than the…

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