The Editorial Team |

Ghana May Struggle to Repay Lenders’ $1.3 Billion Cocoa Loan

ACCRA (Capital Markets in Africa)- Ghana Cocoa Board may struggle to fully pay back loans of $1.3 billion as this season’s harvest will likely be smaller than first anticipated, according to the head of the industry regulator. The world’s second-biggest grower signed for the loans with lenders such as Credit Agricole SA and Natixis SA prior to the start of the annual harvest in October to pay farmers for their beans. Ghana will probably not meet…

INTO AFRICA March 2018 Edition: Sailing Africa 2018 Investment Prospects

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LAGOS (Capital Markets in Africa) – Welcome to the March 2018 edition of INTO AFRICA, a publication with fresh insight into Africa’s emerging capital markets. The edition is titled: Sailing Africa 2018 Investment Prospects. After a difficult period from 2014 to 2016, African equities posted excellent returns in 2017, with the Zimbabwean Stock Exchange (ZSE) the top performer with triple-digit growth. The market gains are in line with performances recorded across the globe where stock…

Ghana President Tells Lenders to Reduce Their Interest Rates

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ACCRA (Capital Markets in Africa) – Ghana President Nana Akufo-Addo said the country’s banks should cut their lending rates for clients. Lenders are failing to pass on lower rates from the central bank and are standing in the way of economic progress, Akufo-Addo said Wednesday in an emailed copy of a speech he delivered at the Ghanaian unit of Ecobank Transnational Inc. in Accra, the capital. While the Bank of Ghana has reduced its key rate by 550…

Congo President Set to Approve Law Changes Despite Miners’ Pleas

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KINSHASA (Capital Markets in Africa) – Congolese President Joseph Kabila will sign off on changes to the country’s mining code but left the door open to further talks after a lengthy meeting with senior industry executives who oppose the legal reform. Glencore Plc Chief Executive Officer Ivan Glasenberg, Randgold Resources Ltd.’sMark Bristow and other top officials met Kabila for five hours Wednesday in the capital, Kinshasa, to discuss the new rules. The changes will raise taxes and other costs…

Standard Bank Lifts Targets as Sees South African Economy Improving

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JOHANNESBURG (Capital Markets in Africa) – Standard Bank Group Ltd., Africa’s largest lender by assets, said it expects its return on equity to rise as South Africa’s economy improves. “The positive steps taken already by the ruling party subsequent to its leadership conference will improve business and consumer confidence,” the Johannesburg-based bank said in a statement on Thursday. The return on equity target range has been increased to as much as 20 percent from an earlier…

Sanlam Scours Africa for More Deals After Biggest Purchase

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JOHANNESBURG (Capital Markets in Africa) – Fresh from sealing its biggest ever deal, Sanlam Ltd. is still scouring Africa for more acquisitions to extend its lead as the continent’s largest financial-services company outside of banking. The Cape Town-based insurer will spend $1.1 billion to take full control of Morocco’s Saham Finances SA, bringing its total investment in the firm to almost $1.7 billion since February 2016. The deal will give Sanlam access to Saham’s 26 markets across…

MTN Casts Eye Over Empire as Carrier Mulls Over Where to Chop

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JOHANNESBURG (Capital Markets in Africa) – Africa’s biggest mobile-phone company is doing a spring clean of its empire. MTN Group Ltd. said Thursday it’s conducting a review to decide whether it really needs to be in all 22 of its markets across Africa and the Middle East. Some of them are tiny, others are war-torn while still more have regulators desperate to curb the Johannesburg-based company’s perceived dominance. Here are a few countries where MTN is…

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