The Editorial Team |

AfricInvest and Amethis acquire a minority stake in CFG Bank

RABAT (Capital Markets in Africa )- AfricInvest and Amethis, leading pan-African mid-cap-focused private equity firms, are pleased to announce the closing of a minority equity investment in CFG Bank (“CFG”), a pioneering investment bank which is now extending its activities to become a universal bank. Established in 1992 by Adil Douiri and Amyn Alami, CFG initially operated as a capital markets investment advisor for retail clients, and soon became a leader in investment banking services…

An $80 Billion Debt Manager Finds Gems in Egypt and Ukraine

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CAIRO (Capital Markets in Africa) – Not all emerging-market debt is losing its allure as U.S. Treasury yields rise. At least not for Morgan Stanley Investment Management’s Michael Kushma. Far from taking a more skeptical view of the asset class, Kushma, who helps oversee $80 billion in debt, says the trick is to seek securities in places where there’s relatively low interest-rate risk. It’s a strategy that leads him to talk enthusiastically of countries that…

Fitch: Diesel Breakthrough May Slow Electric Vehicle Adoption

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LAGOS (Capital Markets in Africa ) – Fitch Ratings-London/Barcelona-26 April 2018: A recent technology breakthrough announced by Bosch, which the company claims can radically reduce nitrogen oxide emissions from diesel engines, has the potential to reverse some of the recent pullback from the fuel, Fitch Ratings says. This could moderate the pace of electric vehicle (EV) adoption by restoring one of auto manufacturers’ more powerful options for meeting fleet-wide carbon dioxide (CO2) emissions targets. Diesel…

Egypt Remains Top African Investment Pick for RenCap’s Robertson

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CAIRO (Capital Markets in Africa) – Egypt retains its mantle as Africa’s most appealing investment destination, thanks to its expanding economy, high literacy rates, adequate electricity and ready supply of inexpensive labor, according to Charles Robertson, Renaissance Capital’s chief economist. While Egyptian markets have boomed since the country devalued its pound in November 2016 and secured an International Monetary Fund loan, Moscow-based RenCap sees the rally as having some way to run, with a real effective…

IFC Venture Capital Leads US$8.6mn Series A Investment in Africa’s Talking

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NAIROBI (Capital Markets in Africa ) – IFC, a member of the World Bank Group, today announced that it led the US$8.6mn Series A equity investment in Africa’s Talking, a Kenyan based communication-platform-as-a-service (“cPAAS”) API startup, to enable the startup to expand its footprint across the continent. As part of the deal, Wale Ayeni, who leads IFC’s venture capital activities in Africa, will join the boards other investors in the round including global venture capital…

State Firms Debt May Threaten Financial Stability, SARB Says

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JOHANNESBURG (Capital Markets in Africa) – The inability of South African state-owned companies to roll over debt could threaten the nation’s financial stability and ultimately result in more credit-rating downgrades, according to the central bank. Governance issues at state companies, rising contingent liabilities and inadequate liquidity could add pressure to government finances through the increased use of guarantees, the Reserve Bank said in its six-monthly Financial Stability Review released in Pretoria on Wednesday. “Financial stability centers around…

Billionaire Bollore Is Charged in French Bribery Investigation

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JOHANNESBURG (Capital Markets in Africa) – Billionaire Vincent Bollore and two other men were charged by French investigators late Wednesday as part of a probe into the possible use of bribes in two African countries to obtain port contracts from public officials. The case stems from a case focusing on suspicions of foul play when Bollore SA was awarded contracts to operate container terminals in Lome, Togo, and Conakry, Guinea, according to a statement from his company….

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