The Editorial Team |

Ex-Finance Minister Named in $1.2 Billion Ghana Bank Lawsuit

ACCRA (Capital Markets in Africa) – Ghana’s former Finance Minister Kwabena Duffuor and 12 other parties are facing a 5.7 billion cedi ($1.2 billion) suit over funds that went missing during their tenure as shareholders and directors of the now defunct Unibank Ghana Ltd. KPMG LLP, which is the receiver for Unibank after the lender’s license was revoked in August, is asking the High Court in Accra to declare loans, advances and asset purchases made by certain shareholders…

Investing Into Private Equity for African Institutions

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LAGOS (Capital Markets in Africa) – Institutional investment is a key driver of the development of capital markets. But, in many parts of Africa, institutional investment has been slow to develop and development finance institutions (DFIs) have long filled this gap. In recent years, pension reform in many countries has driven the creation of more reliable forms of savings for individuals. While the assets in African pension funds are still relatively small, most are fast-growing, creating…

African Pension Funds: A New Capital Source For Private Equity

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LAGOS (Capital Markets in Africa) – African pension funds are primed to play a valuable role in the future of the African private equity industry. They are likely to become an increasingly significant capital source for medium and long – term investment and are primed to play a critical role in catalysing African development. With many pension funds accumulating substantial AUM, there is pressure on these pension funds to diversify from traditional investments such as…

INTO AFRICA September 2018 Edition – Gauging 2018 African Outlook

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Welcome to the September 2018 edition of INTO AFRICA, a publication with fresh insight into Africa’s emerging capital markets. This edition reviews Africa’s economies in the first half of 2018 and its title: Gauging 2018 African Outlook. Africa is set to enjoy a modest growth uptick, and decisive policies are needed to both reduce vulnerabilities and raise medium-term growth prospects, according to the IMF. In parallel, the Brookings Institution projected the average growth in the region is to…

Zimbabwe: Life After President Robert Mugabe

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LAGOS (Capital Markets in Africa) – In early November 2017, Robert Mugabe was removed from power in what was effectively a bloodless coup. My wife, children and I joined a million people on the streets of Harare in a celebration of pent up joy and elation, the likes of which I can only imagine were equalled by the fall of the Berlin Wall. People were laughing, dancing, running in circles, waving pictures of the army…

Egypt’s GB Auto Sees Sales Doubling as `Different World’ Sets in

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CAIRO (Capital Markets in Africa) – Egypt’s biggest car distributor and assembler, Ghabbour Auto, expects automobile sales to double in 2019 compared to last year, amid a rebound in demand crippled after currency reforms sent inflation soaring. The Cairo-based company, which also has operations in Iraq, Jordan and Algeria, expects automobile sales to surge by 25 percent to 4,800 cars in September as it resumes distribution of China’s Geely vehicle this month, GB Auto’s chairman and…

MTN’s Nigeria Crisis Becomes Political Fodder in Vote Run-up

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LAGOS (Capital Markets in Africa) – MTN Group Limited has become a battleground issue for Nigerian politicians vying for ascendancy ahead of a national election in February, with $10 billion worth of claims made against the South African wireless carrier. Africa’s largest mobile-phone company by subscribers is reeling from a double blow in Nigeria over the past week that’s caused the stock to lose almost a third of its value and its Eurobonds to plunge. First, the central bank…

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