The Editorial Team |

Africa’s Largest Broadband-Network Provider Considers Share Sale

HARARE (Capital Markets in Africa) – Liquid Telecom reiterated that it’s considering an initial public offering as Africa’s largest broadband-network operator prepares for its next stage of growth following the $500 million acquisition of Neotel Pty Ltd. in 2016. The unit of Zimbabwean businessman Strive Masiyiwa’s Econet Wireless Global Ltd. owns about 40,000 kilometres (25,000 miles) of cross-border fiber networks in Africa and has ambitions to link up homes and businesses in some of the world’s…

Senegal Is Said to Attract Almost $10 Billion in Eurobond Bids

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DAKAR (Capital Markets in Africa) – Senegal received more than $10 billion of orders for a $2.2 billion Eurobond on Tuesday as debt from African governments remains in hot demand with yield-hungry investors. The West African nation sold 1 billion euros ($1.2 billion) of notes with an average life of nine years and a separate $1 billion 29-year tranche, the Finance Ministry said in a statement Wednesday. The euro notes yielded 4.75 percent and the dollar…

Egyptian Exchange EGX 30 Price Index Rises, South Africa FTSE/JSE Breadth Strengthens

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CAIRO (Capital Markets in Africa) – Market breadth for the FTSE/JSE Africa All Share Index strengthened as the number of companies that rose exceeded declining shares by 114 to 40, the most since Feb. 15. The South Africa FTSE/JSE rose for the second day, climbing 2.3 percent, or 1,330.46 to 59,242.86. Bloomberg’s market breadth function helps you analyse the main stock indexes around the world, highlighting when an unusual percentage of index members breach technical levels ranging from…

Zimbabwe Is Said to Be Ready to Quit Mugabe Policies Before Vote

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HARARE (Capital Markets in Africa) – Zimbabwe’s ruling party plans to bolster its campaign for this year’s general elections by jettisoning former President Robert Mugabe’s “look east” policy toward China and Russia and adopt some of the opposition’s key initiatives, according to three senior party officials. Since Emmerson Mnangagwa replaced Mugabe as president after a military intervention in November, the authorities in Harare, the capital, have shown a willingness to re-engage with western nations and institutions in an…

Al-Qaeda Militant Raids Erode Malian President’s Popularity

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BAMAKO (Capital Markets in Africa) – Foreign travel is the first thing that comes to mind when Malian lettuce farmer Moussa Samake thinks about President Ibrahim Boubacar Keita. Nicknamed “the carrier pigeon” for his frequent trips abroad, Keita, 73, is expected to seek re-election in July after a five-year term marred by growing insecurity in the landlocked West African nation. His failure to halt a steady rise in deadly jihadist attacks has left many Malians disillusioned…

Africa’s Richest Woman Denies Illegal Transfer at Oil Firm

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LUANDA (Capital Markets in Africa) -Isabel Dos Santos, the billionaire fired as chairwoman of Angola’s state oil company last year, denied any wrongdoing in the transfer of $38.2 million from the company and said the allegations were politically motivated. The allegations, made by Sonangol’s Chairman Carlos Saturnino are the latest salvo in a crackdown on the interests of the family of former President Jose Eduardo Dos Santos, who ruled the continent’s second-biggest oil producer for almost four decades….

It’s Much Ado About Nothing as Tanzania Frets Over Credit Rating

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DAR ES SALAM (Capital Markets in Africa ) – Tanzania may be less than enamoured with its first credit rating, but there’s little to suggest the gas-rich East African nation would be blocked from the Eurobond market that it’s long been tempted to tap. After discussing plans to get a rating for at least a decade, Tanzania obtained one of B1, four steps into junk territory, from Moody’s Investors Service on Friday. Government officials weren’t impressed. Dotto James, the…

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