The Editorial Team |

Egypt’s pound shows Nigeria must overcome its fear of floating free

CAIRO (Capital Markets in Africa) – A currency devaluation may do little to fix Nigeria’s problems unless it follows the examples of emerging market peers Egypt, Argentina and Russia and embraces floating exchange rates. Grappling with the recession, widespread dollar shortages, a budget funding gap and international lenders’ reluctance to provide loans, Nigeria has moved tentatively to devalue its currency. The naira traded as low as 375 per dollar on Monday versus the official rate of…

FinTech Impact for Africa: Re-Imagining Financial Services

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7th March 2017, Uganda: FinTech players are increasingly becoming an important part of the fabric of Africa’s financial services industry. In addition, the leading banks on the continent are now harnessing innovative technology to meet market needs and are also collaborating with FinTech start-ups to help them connect with under-served consumers, improve financial inclusion and provide a platform to scale much faster. Combining a highly innovative and interactive event format with world‐class speakers and more…

Tanzania central bank slashes its discount rate to 12 pct

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DAR ES SALAAM (Capital Markets in Africa) – Tanzania’s central bank cut its discount rate to 12 percent from 16 percent to help spur lending and boost economic growth, the first time it has lowered borrowing costs since 2013. The cut, which the central bank said in a circular to commercial banks seen by Reuters becomes effective on Monday, follows a steep drop in private sector credit growth last year. “The discount rate which is applicable…

Mediterrania Capital Partners raises €250 million for third fund

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Malta/Barcelona (7 March 2017) – Mediterrania Capital Partners, the regional Private Equity firm focusing on growth investments for companies in North African and Sub-Saharan countries, announces its plans to raise €250 million for its third fund, Mediterrania Capital III (MC III). Through MC III, Mediterrania Capital will maintain its focus in North Africa while expanding into selected Sub-Saharan countries such as Ivory Coast, Senegal and Cameroon. The firm is planning to continue investing in strong…

Algeria foreign reserves to stay over $100 bln this year

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ALGIERS (Capital Markets in Africa) – Algeria’s foreign exchange reserves will come to at least $100 billion by the end of 2017 thanks to measures aimed at further reducing the country’s import bill, Prime Minister Abdelmalek Sellal said on Monday. The fall in global oil prices has hammered the state finances in OPEC member Algeria, where oil and gas account for 94 percent of total exports and 60 percent of the state budget. Energy earnings…

INTO AFRICA March 2017 Edition: Africa’s Lions: Trust in Fundamentals

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LAGOS, Nigeria, Capital Markets in Africa: Welcome to March edition of INTO AFRICA, the publication with fresh insight into Africa’s emerging capital markets. Please download by clicking: INTO AFRICA PUBLICATION: MARCH 2017 EDITION. Recent years have been challenging for Africa: so is the honeymoon over or did the wedding even take place? The oil price crash has had a serious impact on several African countries; the strength of the dollar is causing financing and FX issues; incidences of terrorism…

Sahel Capital and CardinalStone Capital Invest in Crest Agro Products, Nigeria

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LAGOS (Capital Markets in Africa) – Sahel Capital, fund managers for the Fund for Agricultural Finance in Nigeria (“FAFIN”) and CardinalStone Capital Advisers (“CCA”), a Nigerian Private Equity Fund Manager, are pleased to announce that definitive agreements have been executed for an investment in Crest Agro Products Limited (“Crest Agro”), an integrated cassava processor based in Kogi State. Founded in 2013, Crest Agro was set up to harness opportunities in the cassava starch sub‐sector. The…

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