The Editorial Team |

Russia Signs Agreement With Nigeria for Nuclear Power Plant

LAGOS (Capital Markets in Africa) – Russia has signed agreements with Nigeria to build and operate a nuclear power plant in the oil-rich West African nation that has a deficit of reliable power and faces security challenges by Islamist militants in the far northeast. Feasibility studies for the plant and a research center construction will include site screening, capacity, financing, and time frames of the projects, state-owned Russian nuclear company Rosatom said in an emailed…

Carlyle Is Said to Target Egypt Deals as Reforms Revive Economy

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CAIRO (Capital Markets in Africa) – Carlyle Group LP is targeting possible investments in Egypt as the U.S. buyout firm seeks to take advantage of an economic revival in Africa’s third-biggest economy, according to people familiar with the matter. The company is in talks to buy a controlling stake in chocolate maker Covertina, the people said, asking not to be identified as the information is private. It’s also looking at other potential investments in the country,…

Zimbabwe Ruling Party Moves to Include a Woman in Top Body

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HARARE (Capital Markets in Africa) – Zimbabwe’s ruling party will probably amend its constitution to ensure that a woman is appointed to its top body, which currently has three men, according to a draft document sent to senior members of the party by its secretary for administration, Ignatius Chombo. The move may pave the way for President Robert Mugabe’s wife Grace to join the Presidium at a party congress in December, according to University of Zimbabwe professor Eldred…

Cryptocurrency Push Sends Startup to Biggest Gain Since 2015 IPO

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LAGOS (Capital Markets in Africa) Canadian online lender Mogo Finance Technology Inc. rose the most in eight months after moving a step closer to giving customers the ability to hold bitcoin and other cryptocurrencies in digital wallets. Mogo shares rose as much as 35 percent, the most since the company’s initial public offering in June 2015, and closed at C$5.15, up 31 percent. The move gives the company a market value of C$94.4 million ($73.6 million). The Vancouver-based firm said…

Private Equity funds raise $95bn in third quarter of 2017

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LAGOS (Capital Markets in Africa) – Research provider Preqin indicated that 181 private equity (PE) funds raised a total of $95.2bn in capital commitments worldwide in the third quarter of 2017, compared to 256 PE funds that raised $137.7bn in the preceding quarter and 232 PE funds that secured $66.6bn in the third quarter of 2016. It pointed out that 45 buyout funds secured $65.9bn during the third quarter of the year, or 69.2% of…

UniCredit $21 Billion Bad-Loan Sale Said to Draw ECB Review

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LAGOS (Capital Markets in Africa) – The European Central Bank is examining UniCredit Spa’s landmark bad-loan sale of 17.7 billion euros ($20.6 billion) to assess if the price the bank reported is inflated by fees that should be stripped out, according to people familiar with the matter. Some of the commissions the Italian bank will pay to the buyers to manage the loans over coming years could affect the price, the people said, asking not to…

Bitcoin Passes More Milestones as Market Cap Tops $100 Billion

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LAGOS (Capital Markets in Africa) – The most widely used digital currency will now cost you about $6,125 apiece after blowing past the $5,000 and $6,000 price levels for the first time earlier this month. Bitcoin’s total value is just over $100 billion, meaning it makes up more than half of the overall cryptocurrency market. Cryptocurrency prices have been unfazed by recent regulatory crackdowns across the world and scepticism from Wall Street stalwarts including Warren Buffett and…

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