The Editorial Team |

The Four Africas: Nigeria – The Unstoppable Super Eagle

LAGOS (Capital Markets in Africa) – It is a results-driven world we live in, like it or not. And the rules are simple, occasionally ruthless, but invariably bottom-line. Whenever international financial institutions or global marketing giants look to invest their capital, manpower and technology in a new market, they invariably ask one question: Are the fundamentals sound? If the answer is “yes,” they continue. They set down roots. And they often use that nation as…

Kenya’s Biggest Bank Warns Rate Caps Risk Crippling Industry

Posted on by The Editorial Team

NAIROBI (Capital Markets in Africa) – Equity Group Holdings Ltd., Kenya’s biggest bank by market value, posted a 6 percent decline in first-quarter profit as its chief executive officer warned government-imposed caps on commercial lending rates risk crippling the industry. Net income slid to 4.83 billion shillings ($47 million) in the three months through March as the revenue generated from loans after expenses tumbled 15 percent to 8.89 billion shillings, the Nairobi-based lender said in…

South Africa Miners Seek Policy Clarity to Boost Spending

Posted on by The Editorial Team

JOHANNESBURG (Capital Markets in Africa) – South Africa needs to finalize its long-delayed mining regulations if falling investment in the sector is to be reversed, according to the Chamber of Mines, which represents producers. Fixed investment in mining dropped in each of the past two years after growing at an average annual rate of 12 percent from 2001 to 2008 and 2 percent from 2009 to 2014, Chamber Chief Executive Officer Roger Baxter told reporters in Johannesburg on…

Impala Platinum Plunges on $400 Million Bond Refinance

Posted on by The Editorial Team

JOHANNESBURG (Capital Markets in Africa) – Impala Platinum Holdings Ltd., the world’s second-largest producer of the precious metal, plunged in Johannesburg trading after saying it will refinance about $400 million of convertible bonds, which could dilute existing shareholders. The existing bonds had an equity conversion price more than four times higher than yesterday’s closing price of 41.46 rand a share. The new bonds will convert to equity at a much lower level of 30 to…

High Noon for President Zuma as Key ANC Leaders Seek Ouster

Posted on by The Editorial Team

JOHANNESBURG (Capital Markets in Africa) – South African President Jacob Zuma faces a key battle for his political survival this weekend when senior members of his ruling party say they’ll push for its decision-making national executive committee to order him to step down. Zuma, 75, goes into the meeting of the committee facing an unprecedented level of opposition from within the African National Congress and its labor and communist supporters following a series of scandals he’s faced since…

Gambia Talks With China, Norway Investors to Revive Economy

Posted on by The Editorial Team

BANJUL (Capital Markets in Africa) – Gambian officials are holding talks with Chinese and Norwegian investors on infrastructure projects to drive economic growth in the West African nation after decades of dictatorship, a minister said. “We want investors that will understand the situation we are emerging from,” Trade, Industry and Regional Integration Minister Isatou Touray said in a May 22 interview in the Nigerian capital, Abuja. “We hope investors will see that Gambia is no longer…

Rwandan Bank Mulls First Foreign Listing Outside Country

Posted on by The Editorial Team

KIGALI (Capital Markets in Africa) – Bank of Kigali Ltd., Rwanda’s biggest lender by market value, plans to cross-list in Nairobi, Johannesburg or London in 2018, Chief Financial Officer Nathalie Mpaka said. The lender will make a decision by December based on the amount of capital the bank plans to raise, Mpaka said Wednesday in the Rwandan capital, Kigali. It would be the first Rwandan company to list its shares outside the East African nation. “We…

« 1 … 696 697 698 699 700 … 1,077 »