The Editorial Team |

Equatorial Guinea, Burkina Faso Agree LNG Supply and Sales Pact

LAGOS (Capital Markets in Africa) – Equatorial Guinea said it signed a memorandum of understanding with Burkina Faso to supply the West African nation with liquefied natural gas and build infrastructure to import, store and transport the fuel. The initial three-year agreement compels both sides to negotiate and sign an LNG supply agreement and a terminal use deal, Equatorial Guinea’s Ministry of Mines, Industry and Energy said in an emailed statement on Monday. The countries will…

Kenyan Credit Growth Accelerates for First Time in Two Years

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NAIROBI (Capital Markets in Africa) – Lending to Kenya’s private sector accelerated in August for the first time in two years, after growing at the weakest pace since 2002 the month before as banks continued to shun borrowers because of a government-imposed interest-rate cap. Credit grew 1.6 percent in August from a year earlier, compared with 1.4 percent in July, the Central Bank of Kenya said in an emailed statement. The bank kept its benchmark interest rate…

Helios Towers Africa Considering London Stock Exchange Listing

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LAGOS (Capital Markets in Africa) – Africa’s Helios Towers, the independent telecoms tower infrastructure company and its shareholders are exploring strategic options for the business to drive its long-term growth. This may include the possibility of listing on the London Stock Exchange. At this stage, no decision has been made with all options remaining open to the company. Kash Pandya, CEO, commented: “This is an exciting time for Helios Towers as we continue to execute…

Tanzanian Leader’s War for Taxes Puts Economy in Firing Line

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DAR ES SALAAM (Capital Markets in Africa) – Tanzanian President John Magufuli’s deepening dispute with companies he accuses of being tax cheats is rattling investors and dimming the allure of one of Africa’s fastest-growing economies. Since taking office in late 2015, Magufuli has been on a drive to increase revenue from natural resources to help fund his industrialization plans. His administration has passed laws enabling it to renegotiate contracts and ordered foreign mining firms to…

UBS Wealth Has Good Things to Say About EM, Not South Africa

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JOHANNESBURG (Capital Markets in Africa) – There’s one emerging market country that Michael Bolliger can’t get bullish about at the moment: South Africa. President Jacob Zuma is fighting to stay out of court before the African National Congress votes for a new leader in December. He’s pushing for his ex-wife to succeed him, but most analysts in a Bloomberg survey think the nation’s Deputy President Cyril Ramaphosa probably will. It’s more noise for a market that has already paid a price…

Death Threats, Split Authority Said to Endanger Kenyan Vote

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NAIROBI (Capital Markets in Africa) – Death threats to top members of Kenya’s divided electoral body are endangering preparations for a rerun of last month’s annulled presidential election, a senior official at the authority said. The relatives of one administrator at the Independent Electoral & Boundaries Commission fled the country after their lives were threatened, while Chairman Wafula Chebukati made additional security arrangements for his family, said the official, who asked not to be identified…

KPMG Slammed by South Africa’s Pravin Gordhan on Tax Report

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JOHANNESBURG (Capital Markets in Africa) – Pravin Gordhan, who was ousted from his post as South Africa’s finance minister in March, slammed KPMG LLP after it withdrew the findings of a report on the country’s tax agency that was used as evidence in a police probe against him and led to the removal of senior staff. The auditing firm said on Friday that its conclusions and recommendations in a report for the South African Revenue Service about a unit that allegedly…

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