The Editorial Team |

African Bank Investments Makes a Come Back After 30-Month Hiatus

JOHANNESBURG (Capital Markets in Africa) – African Phoenix Investments Ltd., the holding company resurrected from the remnants of failed African Bank Investments Ltd., started trading 30 months after being suspended, with volumes far exceeding all other shares on the Johannesburg Stock Exchange. The securities started trading at 55 cents, before falling to 50 cents as of 10:19 a.m. in Johannesburg, giving the company a market value of 751 million rand ($56 million). Almost 24 million shares…

Stefanutti to Raise $74 Million for Black-Owned Coal Miners

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JOHANNESBURG (Capital Markets in Africa) – Stefanutti Stocks Holdings Ltd., a South African construction firm, plans to raise a 1 billion-rand ($74 million) fund to invest in coal mining operators majority-owned by black investors. The building company is working in partnership with Africa-focused investment group Jaltech Financial Consultants to set up the JSS Empowerment Mining Fund and source the necessary capital from wealthy individuals, according to JSS money manager Gaurav Nair. Participants will receive a tax benefit on…

Mediterrania Capital Partners appoints Senior Director for Sub-Saharan Africa

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Malta/Barcelona (31 January 2017) -Mediterrania Capital Partners, the regional Private Equity firm focusing on growth investments for companies in North African and Sub-Saharan countries, announces the appointment of Mr. Pacôme Zahabi as Senior Director for Sub-Saharan Africa, based in Abidjan. With 20 years of professional experience in the finance industry in Africa, Mr. Zahabi is responsible for identifying new investment opportunities and driving financial and risk analysis of potential projects. He is also in charge of the…

Canada’s Mawer Offers New Emerging Markets Equity Fund

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LAGOS (Capital Markets in Africa) – Mawer Investment Management Ltd. (Mawer) launched a new fund today, offering investors an opportunity to invest in emerging markets using Mawer’s time-tested investment approach: “Be Boring. Make Money™” Mawer has 30 years of experience investing in emerging markets within its International equity strategy and more recently in its global small cap and global equity strategies. The new Mawer Emerging Markets Equity Fund will be managed by Peter Lampert, CFA,…

Cytonn takes 25% stake in real estate developer Superior Homes, Kenya

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NAIROBI (Capital Markets in Africa) – Cytonn Investments acquired a 25 per cent stake in real estate developer Superior Homes, as it aims to grow its property portfolio in the Kenya market. The investment firm which has a Sh73 billion real estate portfolio sealed the deal yesterday by injecting Sh1 billion in Superior Homes, setting pace for mergers and acquisitions in the sector. The series of transactions as structured values Superior Homes at about Sh4…

Bears Strengthen Hold on Nigerian Equities Market…NSE ASI down 69bps

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LAGOS (Capital Markets in Africa) – The bearish sentiment in the local bourse was extended today as sustained profit taking by investors pulled the All Share Index 0.7% lower to 26, 036.24 points while YTD loss worsened to –3.1%. Sell-offs in market bellwethers – NESTLE (- 3.1%), NIGERIAN BREWERIES (-1.6%) and GUARANTY (-1.1%) – were the major drag to performance as market capitalisation also dipped N47.7bn to N9.0tn. However, activity level strengthened as volume and value…

South Africa Posts Its Biggest Trade Surplus in Seven Months

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JOHANNESBURG (Capital Markets in Africa) – South Africa recorded its biggest trade surplus in seven months in December, narrowing the shortfall for the year and supporting the rand. The 12 billion-rand ($890 million) surplus compares with a revised 1.7 billion-rand shortfall in November, after imports of chemicals and base metals dropped, the Pretoria-based South African Revenue Service said in an e-mailed statement on Tuesday. The cumulative deficit for last year was 2.9 billion rand compared with 52.2 billion…

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