The Editorial Team |

African Gold Miner Endeavour Would Rather Be Agile Than Huge

LAGOS (Capital Markets in Africa) – Endeavour Mining Corp. one of the fastest-growing gold producers in Africa, says bigger isn’t always better. “One of the reasons the majors have failed over the years is they’ve built such large corporate teams that the decision-making processes within those organizations is so slow,” Chief Executive Officer Sebastien De Montessus said in an interview in Cape Town. “Being able to remain quite lean gives you the agility to move and to take…

MTN Is Said to Plan $500 Million Nigeria Share Sale in 2018

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LAGOS (Capital Markets in Africa) – MTN Group Ltd. plans to raise about $500 million from the sale of shares in its Nigerian business during the first half of the year, fulfilling the terms of a deal struck with the West African nation to settle a record fine, according to people familiar with the matter. Standard Bank Group Ltd. and Citigroup Inc. have been advising Africa’s largest mobile-phone company on the disposal of as much as…

INTO AFRICA February 2018 Edition: The Year 2018 -Africa Economy Normalization.

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LAGOS (Capital Markets in Africa) – Happy New Year! A new year, a new edition and a wealth of new insights – tailormade for you. The Capital Markets in Africa would like to proudly introduce the February 2018 edition of the INTO AFRICA – the publication with fresh insight into Africa’s emerging markets. The edition provides insight and foresight into African economies (from Southern Africa to North Africa and East Africa to West Africa as well…

Zuma’s Protracted Exit Tests Ramaphosa’s Power in South Africa

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JOHANNESBURG (Capital Markets in Africa) – Less than two months after taking over the leadership of South Africa’s ruling party, Cyril Ramaphosa is facing a key test of his authority: President Jacob Zuma just won’t go away. Zuma initially defied a decision by top leaders of the African National Congress that he should quit, but his exit seemed imminent when parliament on Tuesday postponed the annual state-of-the-nation address just two days before he was due to deliver it. On…

Nigeria Hires Citi, StanChart, Stanbic for $2.5 Billion Eurobond

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LAGOS (Capital Markets in Africa) – Nigeria hired Citigroup Inc., Standard Chartered Plc and Stanbic IBTC Holdings Plc to help it sell $2.5 billion of Eurobonds, possibly in the first quarter. “The minister confirmed this at the Federal Executive Council briefing on Wednesday,” Oluyinka Akintunde, media adviser for Finance Minister Kemi Adeosun, said by text message on Thursday. The government rehired the group of lenders who managed its Eurobond sales late last year. Proceeds from the issuance will be used to refinance…

In Nigerian `Cash-and-Carry’ Politics, Ambition Is Constant

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LAGOS (Capital Markets in Africa) – At recent rallies of Nigeria’s ruling All Progressives Congress for next year’s general elections, the list of speakers is often dominated by former members of the opposition People’s Democratic Party who switched sides. Former ministers, two-term governors and other senior officials who served with the PDP during its 16-year rule take turns to denounce the “corruption and waste” of their erstwhile party while touting the virtues of President Muhammadu…

Iron Ore Imports Boom as China Mills Go Big Before Curbs End

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LAGOS (Capital Markets in Africa) – China’s just imported a gargantuan volume of iron ore. Shipments topped 100 million metric tons in January, the second-highest volume ever and a record for the month, as mills bought more cargoes amid expectations steel output will rebound when winter curbs are lifted. Purchases swelled to 100.3 million tons, 9.3 percent higher than a year ago, and well above the 84.1 million tons seen in December, according to customs data on Thursday. The…

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