The Editorial Team |

Eskom Secures $3.4 Billion for Two-Thirds of 2019 Funding

JOHANNESBURG (Capital Markets in Africa) – Eskom Holdings SOC Ltd. said it’s secured about 48.8 billion rand ($3.4 billion) of the funding the state-owned South African power utility requires for the financial year ending March 31. Of the remaining 23.2 billion rand, or 32 percent of the total, 15 billion rand will come from structured products, Eskom said in a statement on Tuesday. A further 4.5 billion rand will come from domestic bonds, including 2.3 billion rand with…

Cell C Plans Johannesburg Share Sale by 2020 to Fund Deals

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JOHANNESBURG (Capital Markets in Africa) – Cell C Pty Ltd. is planning a share sale in its home city of Johannesburg by the first quarter of 2020 as South Africa’s third-largest wireless company seeks funds for acquisitions. The exact timing of an initial public offering will depend on market conditions, Chief Executive Officer Jose Dos Santos said in an interview Tuesday. In the meantime, the carrier is looking at potential fibre-to-home deals to boost its internet and…

What to Watch in Commodities: Venezuela, BHP, Trade, Crops, Gold

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LAGOS (Capital Markets in Africa) – As investors assess last week’s losses in metals and crude, attention now swings toward pandemonium, profits, policy and plants. Crisis-hit oil producer Venezuela faces yet more chaos after its immense devaluation. A settlement of a dispute with ConocoPhillips announced Monday may help boost the South American nation’s crude oil exports, aiding its faltering economy. For profits, BHP Billiton Ltd. reports on Tuesday and the top miner will likely showcase very decent numbers; for policy, it’ll…

`Bitcoin Jesus’ Having a Hard Time Winning Over True Believers

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LAGOS (Capital Markets in Africa)- Roger Ver, the virtual currency advocate often referred to as Bitcoin Jesus, is finding it tough to win converts to the supposed second coming of the the world’s biggest cryptocurrency. The offshoot of the digital coin, known as Bitcoin Cash, is barely being used in commerce, according to blockchain analytics firm Chainalysis. A review of payments received by the world’s 17 largest crypto merchant processing services, such as BitPay, Coinify…

FundForum Middle East and Emerging Markets 2018

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Join 300+ asset managers, fund selectors, and industry experts + from key African and Middle Eastern-focused businesses attending FundForum Middle East and Emerging Markets 2018, the asset and wealth management event for MENA, emerging and frontier markets. You’ll participate in the executive-level conversation with 100+ top speakers and receive 2 full days of exclusive content & best-practice strategies for navigating the Global Investment Management landscape. Confirmed speakers include: Steve Eisman, Managing Director, Neuberger Berman Nadim…

Futuregrowth Says It Didn’t Tell Transnet to Remove CEO Gama

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JOHANNESBURG (Capital Markets in Africa) – Futuregrowth Asset Management, South Africa’s biggest specialist fixed-income money manager, said it didn’t tell Transnet SOC Ltd. to remove Chief Executive Officer Siyabonga Gama after the state-owned rail and ports operator said auditors couldn’t give its 2018 financial results a clean bill of health. “The Futuregrowth team has had continuing engagements as a lender to Transnet over many months,” Chief Investment Officer Andrew Canter said in an emailed statement late Monday. “Those discussions…

Pound Believers Brave the Tide With Investec Still Calling $1.40

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JOHANNESBURG (Capital Markets in Africa) – Sterling slumped more than 4 percent in the past three months, spurring a slew of forecast cuts by analysts amid rising risks that the U.K. will tumble out of the European Union without an economic deal. Still, pound bulls are keeping the faith, with Investec Bank Plc estimating that the two sides will reach an agreement by year-end, while ECU Group Plc sees long-term value in the currency. The pound is…

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