The Editorial Team |

INTO AFRICA May 2018 Edition: Bouncing Back – African Oil and Gas

LAGOS (Capital Markets in Africa) – Welcome to the May 2018 edition of INTO AFRICA, a publication with fresh insight into Africa’s emerging capital markets. This month’s edition, titled: Bouncing Back: African Oil and Gas explores oil and gas laws and regulations across African countries as well financing options for oil and gas projects. With the oil price pushing through to the US$70 mark, and further confidence that the price will remain more stable in…

Is Crypto Fundraising Bringing New Opportunities to Africa?

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LAGOS (Capital Markets in Africa) – Investing in any of the top digital currencies is well above of means of most Africans. For example, one bitcoin in Nigeria values at more than three million naira. This is in a country where around half its population survives on less than 800 naira (just over $2) a day. The minimum wage in Nigeria currently stands at 18,000 naira ($around $60) per month. This situation is reflective of…

South Africa Offers State Workers Inflation-Busting Pay Rise

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JOHANNESBURG (Capital Markets in Africa) – South Africa is offering unions representing 1 million state employees inflation-busting pay increases at a time when the country needs to rein in spending to help keep its investment-grade credit rating. Negotiations over wages for teachers, nurses and other state workers are testing the ability of the new cabinet, led by President Cyril Ramaphosa, to walk a political tightrope with labor unions that supported his rise and keep the country’s…

Mugabe Party Said to Fear Zimbabwe Vote Loss After His Exit

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HARARE (Capital Markets in Africa) – Zimbabwe’s ruling party is growing increasingly nervous that it could lose power in its first election without Robert Mugabe at its helm against an opposition emboldened by the end of the 37-year rule of the liberation struggle leader. Three members of the Zimbabwe African National Union-Patriotic Front’s politburo, its most senior decision-making body, said the party is concerned that large rallies in rural areas show the opposition Movement for Democratic Change…

Kenya Leader Consolidates Power as Political Alliances Shift

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NAIROBI (Capital Markets in Africa) – Kenyan President Uhuru Kenyatta is redefining the nation’s tenuous political alliances in a move that’s likely to help him consolidate power during his final term and leave his deputy William Ruto out in the cold. Kenyatta has patched up a long-standing dispute with the main opposition leader, Raila Odinga, easing months of political tension in the East African nation over last year’s disputed election. The rapprochement has cast doubt over whether Kenyatta will honor…

MTN Plans to Raise $1.1 Billion in Debt in Nigeria This Year

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LAGOS (Capital Markets in Africa) – MTN Group Ltd. plans to borrow as much as 400 billion naira ($1.1 billion) in Nigeria this year as Africa’s largest wireless carrier by sales seeks to fund local investment and replace existing debt in the continent’s most populous country. MTN plans to sell bonds and take out long-term loans as Nigeria, Africa’s biggest oil producer, recovers from a 2016 economic contraction. The carrier expects to list its Nigerian unit on the…

Naspers Scores! South African Company Notches Flipkart Win

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JOHANNESBURG (Capital Markets in Africa) – Africa’s largest company just chalked up another major investment coup. Naspers Ltd. netted a cool $1.6 billion profit from the sale of its 11 percent stake in Indian e-commerce start up Flipkart, a deal almost as lucrative as its sale of Polish online auction site Allegro in 2016. The move helps to line the pockets of the media and technology company, which is scouring the globe for investments to convince…

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