Author: The Editorial Team

JOHANNESBURG (Capital Markets in Africa) – Randgold Resources Ltd. fell the most in 18 months in London after a series of setbacks across its African mines hit both earnings and gold production. A labor dispute at its Tongon mine in Ivory Coast means the operation is unlikely to hit its full-year target, the miner said Thursday. Randgold’s new gold mine in the Democratic Republic of Congo faces uncertainty as the company joins other producers trying…

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…

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…