The Editorial Team |

Nigerian Equities Open Bearish as Investors Book Profit … NSE ASI down 47bps

LAGOS (Capital Markets in Africa) – The benchmark index closed negative today as investors booked profit on stocks which had gained last week. As a result, the All Share Index (ASI) lost 45bps to close at 25,626.39 points, pushing YTD loss to 4.6% while market capitalization settled at N8.9tn. Today’s performance was dragged by losses in NIGERIAN BREWERIES (-2.0%), GUARANTY (-0.8%) and ETI (-2.8%). However, activity level was mixed as volume traded rose 77.7% to 191.8m units while value traded…

Investec Asset Management invests in SJL Group

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RABAT (Capital Markets in Africa) – Investec Asset Management (IAM), through its Africa Private Equity capability, has completed the management buy-out of 100% of SJL Group. SJL is the market-leading transport and logistics operator providing fully integrated cross-border services on the Morocco-EU corridor, as well as in Tunisia and domestically in Morocco. Together with its co-investors, DEG – Deutsche Investitions- und Entwicklungsgesellschaft mbH and Avanz Capital, IAM is backing an experienced senior management team, led…

Synergy Capital Managers invests in Northstar

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LAGOS (Capital Markets in Africa) – Synergy Private Equity Fund (SPEF) is pleased to announce the completion of its investment in Northstar Finance Services Limited (Northstar), a financial services platform providing solutions across the financial service value chain in select countries across West Africa. Northstar is building a portfolio of assets in key segments of the financial sector with the aim to be the leading personal finance brand in West Africa. The investment in Northstar…

Tanzania’s economic growth slowed by policy uncertainty, credit squeeze

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DAR ES SALAAM (Reuters) – Uncertainty over government policies and a slowdown in the private sector cut Tanzania’s gross domestic product growth to an estimated 6.9 percent in 2016 from 7.2 percent the previous year, the World Bank said on Tuesday. Growth is still supported by substantial government investment in infrastructure, including a standard gauge railway, new roads and expanding the ports. But investors have been unnerved by unpredictable policies from the government of President…

Shell says it knew some payments for Nigeria oilfield would go to Malabu

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LAGOS (Capital Markets in Africa) – Royal Dutch Shell has said it knew that some of the payments it made to Nigeria for the rights to an oil field would go to Malabu Oil and Gas, a company associated with a former Nigerian oil minister and convicted money launderer. Shell spokesman Andy Norman said the group had known the Nigerian government “would compensate Malabu to settle its claim on the block”. Shell previously had said…

Mediterrania Capital Partners and AfricInvest exit Grupo San Jose & Lopez (SJL)

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RABAT (Capital Markets in Africa) – Mediterrania Capital Partners, a regional private equity firm focused on growth investments for SMEs in North Africa and Sub-Saharan countries, and AfricInvest, a leading pan-African SME-focused private equity firm with more than $1bn under management, are together pleased to announce the sale of Grupo San Jose & Lopez (SJL), a logistics and international road freight transport company with operations in the Maghreb and Europe. Under the ownership of Mediterrania…

INTO AFRICA April 2017 Edition: Powering Africa’s Energy Projects

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LAGOS (Capital Markets in Africa) – Welcome to the April edition of INTO AFRICA, the publication with fresh insight into Africa’s emerging capital markets. Please download by clicking: INTO AFRICA PUBLICATION: APRIL 2017 EDITION. Africa has one of the fastest growing populations, by the year 2050, annual increases will exceed 42 million people per year and total population will have doubled to 2.4 billion, according to the United Nations Population Division. Of the 2.37 billion increases in population expected…

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