The Editorial Team |

UAE’s Dana Gas freezes Egypt investments over debts

CAIRO (Capital Markets in Africa) – Dana Gas will not make new investments in Egypt because of delays in obtaining payments owed to it there, the chief executive of the United Arab Emirates company said. Political and economic turbulence in Egypt and Iraqi Kurdistan mean Dana has struggled to secure revenues in either country, once again hitting its profit on Thursday. Dana posted a $7 million net profit in the three months to Dec. 31,…

Somalia’s GDP growth seen slowing to 2.5 pct in 2017 – IMF

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KHARTOUM (Capital Markets in Africa) – Somalia’s economy is expected to slow sharply this year as a drought knocks production in farming, although the impact will be partially offset by a boost from construction and telecommunications, the International Monetary Fund said. In a statement late on Wednesday, the IMF projected the Horn of Africa nation’s gross domestic product would expand 2.5 percent this year down from estimated 3.4 percent in 2016. “The Somali economy is…

Nigerian Bourse Halts 3-Day Downtrend …Benchmark Index up 5bps

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LAGOS (Capital Markets in Africa) – The local bourse bucked bearish trend observed in the last three trading sessions as buy an interest in DANGCEM (+0.7%), GUARANTY (+1.4%), UBA (+0.8%) and ACCESS (+0.8%) drove the benchmark index 5bps northwards to settle at 25,460.45 points. Accordingly, market capitalization improved by N4.8bn to settle at N8.8tn while YTD return steadied at –5.3%. Activity level was mixed as volume surged 67.9% to 347.8m units while value traded waned 10.3% to N1.4m in 2,934 deals. Mixed Sector…

African mining hopes are distant from uncertain reality: Russell

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CAPE TOWN (Capital Markets in Africa) – It should be a match made in heaven. Developing Africa’s vast mineral resources to meet the needs of the resource-hungry economies of China and the rest of Asia. But if there is one message to take away from this week’s Mining Indaba conference in Cape Town, it’s that there remains a large gap between hopes and reality, and that in much of sub-Saharan Africa mining investment remains challenging,…

Mediterrania Capital Partners’ Portfolio Companies deliver 64% Cumulative EBITDA growth

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Malta/Barcelona (8 February 2017). Mediterrania Capital Partners, the regional Private Equity firm focusing on growth investments for companies in North African and Sub-Saharan countries, announces that MC II’s portfolio companies delivered 64% Cumulative EBITDA growth since 2014. Until December 2016, while under Mediterrania Capital´s tenure, the Cumulative EBITDA of MC II´s Portfolio Companies reached €53 million, up 64% since 2014. In addition, Cumulative Revenues reached €340.8 million – a 63% growth rate – and Cumulative…

Nigeria fine to push South Africa’s MTN to 2016 loss, shares fall

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JOHANNESBURG (Capital Markets in Africa) – South Africa-based MTN Group expects to report a full-year loss due to a $1 billion regulatory fine in Nigeria and underperformance there and at home, it said on Wednesday, sending its shares to a two-month low. Africa’s most populous nation and biggest economy Nigeria is MTN’s most lucrative but increasingly problematic market, hobbling its growth outlook. But the appointment of banker Rob Shuter, who starts next month, as chief…

Zambia’s 2016 investment pledges up marginally to $3.4 billion

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LUSAKA (Capital Markets in Africa) – Zambia recorded $3.4 billion in investment pledges in different sectors of the economy in 2016, representing a 0.7 percent increase from the previous year, the investment promotion agency said on Wednesday. The energy sector registered the highest amount of pledged investment, followed by manufacturing and agriculture, the Zambia Development Agency said in a statement. It said investment rose despite a general election last year, showing confidence in Zambia was…

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