The Editorial Team |

Embrace the impact of digitalisation and turn disruption into opportunity

LAGOS (Capital Markets in Africa) – The growth of digital technologies is seeing disruption taking place across industry sectors. For companies operating in Africa, the opportunities these presents are too significant to ignore. Long considered the next frontier when it comes to innovation, the continent is poised to benefit from this push towards digitalisation. “With the gap between technology and business all but disappearing, decision-makers are faced with a choice of either embracing a new,…

Moody’s takes rating actions on five Tunisian banks

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TUNIS (Capital Markets in Africa) – Moody’s Investors Service (“Moody’s”) has today downgraded to B1 from Ba3 the long-term local currency deposit ratings of Arab Tunisian Bank (ATB), Banque Internationale Arabe de Tunisie (BIAT) and Banque de Tunisie (BdT) while also downgrading the long-term local currency deposit ratings of Amen Bank (Amen) and Société Tunisienne de Banque (STB) to B2 from B1. Moody’s also changed the outlook on the long-term deposit ratings of ATB to…

Sasol Tempers Return Expectations for $11 Billion Project

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JOHANNESBURG (Capital Markets in Africa) – Sasol Ltd. lowered estimated returns at its $11 billion Lake Charles chemicals project in the U.S. and said it’s disputing a revised tax bill in South Africa. Sasol, the world’s biggest producer of liquid fuel from coal, projects an internal rate of return of 7 percent to 8 percent at Lake Charles, which will convert ethane into plastics and other products. The range is based on “conservative” ethane prices and…

Ma, Dangote, Blankfein to Meet World Leaders at Bloomberg Event

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LAGOS (Capital Markets in Africa) – As global chief executives wrestle with how to engage with government leaders, a group including Alibaba’s Jack Ma and Aliko Dangote, Africa’s richest man, will convene more than 100 fellow business leaders to meet with dozens of heads of state in September. The Global Business Forum will take place in New York during the United Nations annual General Assembly meetings, Michael R. Bloomberg said today in a statement. Bloomberg is the founder…

Nigerian President Buhari Vows to Intensify War on Militants

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LAGOS (Capital Markets in Africa) – Nigerian President Muhammadu Buhari vowed to step up the fight against the Islamist militants and proponents of secession in his first speech after returning from three months of sick leave in London. Nigeria’s national unity is “not negotiable,” Buhari, 74, said Monday in a nationally televised address. “Terrorists and criminals must be fought and destroyed relentlessly so that the majority of us can live in peace and safety.” Buhari informed the…

Ghana to Cut 2017 Spending as It Struggles to Raise Revenue

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ACCRA (Capital Markets in Africa) – Ghana plans to cut spending this year as weak revenue collections are the “Achilles’ heel” in getting its accounts to balance, Finance Minister Ken Ofori-Atta said. “We are trying to contain expenditures as much as we can,” Ofori-Atta said at a conference Monday in the capital, Accra. In July, the West African nation trimmed the budget-deficit forecast to this year 6.3 percent of gross domestic product from 6.5 percent. Constant overspending prompted…

Solar Telecom Company Calls Ex-Morgan Stanley Manager to Africa

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LAGOS (Capital Markets in Africa) – GreenWish Partners, a renewable energy company run by a former Morgan Stanley executive, is planning to invest $800 million on solar-powered telecommunications towers across Africa. The project could fuel economic growth by providing power for essential services. Sub-Saharan Africa has the lowest rates of energy access in the world and is home to about half of the world’s 1.2 billion people without reliable electricity, according to the International Energy Agency. The problem extends…

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