The Editorial Team |

Steinhoff Is Said to Consider Sale of $907 Million Properties

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…

Can South Africa’s President Be His Country’s Deng Xiaoping?

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JOHANNESBURG (Capital Markets in Africa) – When President Trump tweeted in August that South Africa was engaged in “the large scale killing” of white farmers to seize their land, the nation’s president, Cyril Ramaphosa, didn’t respond personally. A fabricated accusation from the leader of the free world was the least of his problems. Ramaphosa probably felt his time was better spent doing his job. These days that includes confronting his top deputies, his fractured party, the powerful labor…

Skye’s Crash Casts Doubt Over Health of Small Nigerian Banks

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LAGOS (Capital Markets in Africa) – The collapse of Skye Bank Plc is darkening the outlook for Nigeria’s other small lenders struggling to recover from the economy’s contraction two years ago, and threatening to derail the regulator’s ambitions of expanding the industry. The Central Bank of Nigeria last week revoked the lender’s license for failing to meet capital and liquidity thresholds since the authorities first intervened to rescue the business in 2016. The Lagos-based company’s battle to…

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