The Editorial Team |

Mauritius Suspends Quantum Funds After Angola Official Visit

PORT LOUIS (Capital Markets in Africa) – The seven Quantum Global Group funds that had their licenses suspended by Mauritius’s financial-services regulator followed presentations made by a high-ranking Angolan official to the Mauritian government, according to two people familiar with the matter. Quantum Global Group was founded by Jean-Claude Bastos de Morais, a Swiss-Angolan entrepreneur. Swiss newspaper Le Matin Dimanche reported Nov. 5 that about $3 billion of Angola’s wealth fund, known by the acronym…

Afreximbank Has $500 Million for Africa to Buy Russian Planes

Posted on by The Editorial Team

CAIRO (Capital Markets in Africa) – The African Export-Import Bank will provide African national airlines and privately owned companies $500 million through an export-credit facility provided by the Russia Exim Bank. Another $300 million will be available for an aircraft-leasing facility, targeting airlines that can’t afford upfront cost of purchasing jets, Afreximbank’s director of client relations, Rene Awambeng, told reporters in the Kenyan capital, Nairobi. He spoke during a three-nation roadshow by Russian plane makers…

Standard Bank Eyes West Africa Growth After Ivory Coast Opening

Posted on by The Editorial Team

JOHANNESBURG (Capital Markets in Africa) – Standard Bank Group Ltd. is seeking a banking license in Senegal after opening in Ivory Coast as the lender expands in West Africa’s French-speaking countries. Africa’s largest lender, which opened in the world’s biggest cocoa producer on Monday, will focus on corporate and investment-banking clients after obtaining the license in 2016, Sola David-Borha, the Johannesburg-based company’s chief executive officer for Africa, said in an interview in the commercial capital, Abidjan. Standard…

South African Consumer Firm Libstar Plans $124 Million IPO

Posted on by The Editorial Team

JOHANNESBURG (Capital Markets in Africa) – Libstar Holdings Pty Ltd., the South African food and household products maker, plans to raise about 1.5 billion rand ($124 million) to repay debt and fund expansion by selling new shares on the Johannesburg Stock Exchange. Existing shareholders in the Johannesburg-based company, including Abraaj Group Ltd., which holds about 71 percent, will also sell undisclosed stakes, the company said in a statement Monday. “The capital that we raise from the listing…

Exxon Sparks IMF Concern With Weighty Returns in Tiny Guyana

Posted on by The Editorial Team

LAGOS (Capital Markets in Africa) – Exxon Mobil Corp. got such a “favourable” deal from Guyana, home to the biggest new deepwater oil play, that the tiny South American country should rewrite its tax laws, the International Monetary Fund said. While Guyana should honour the existing deal, future contracts should ensure the state gets a higher portion of crude proceeds, the fund said in a report seen by Bloomberg News. The country, South America’s third poorest with an…

Oil Rises Most in Two Weeks as Dollar Weakens and Equities Rise

Posted on by The Editorial Team

LAGOS (Capital Markets in Africa) – Crude climbed by the most in more than two weeks amid a weaker dollar and easing concern that a trade war will break out between the U.S. and China. Futures jumped as much as 1.6 percent in New York as the dollar dipped, boosting oil’s appeal as a store of value. As investors evaluate the ongoing tensions between U.S. and China, President Donald Trump predicted the Asian nation will be first to…

Nigerian President Buhari Will Seek Second Term in 2019

Posted on by The Editorial Team

LAGOS (Capital Markets in Africa) – Nigerian President Muhammadu Buhari has decided to run for re-election in February, ending months of speculation about whether the former military ruler would seek a second term. The announcement of the decision by Buhari, 75, on Monday came at a time of growing criticism of his performance and uncertainty in his ruling All Progressives Congress about his plans. He was in the U.K. for a total of five months last year…

« 1 … 519 520 521 522 523 … 1,076 »