The Editorial Team |

Gambia’s Jammeh Imposes State of Emergency, Defying Region

BANJUL (Capital Markets in Africa) – Gambian President Yahya Jammeh declared a 90-day state of emergency two days before he’s supposed to hand over power to the winner of last month’s election, as West African nations prepared to send a military force to remove him from power. In a speech on state TV late Tuesday, Jammeh said the measure was necessary because of the “unprecedented and extraordinary amount of interference” in the Dec. 1 ballot. He also…

GAIA Infrastructure acquires 25.2% stake in Dorper Wind Farm, South Africa

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JOHANNESBURGH (Capital Markets in Africa) – Gaia Infrastructure Capital Limited (“GAIA” or “the Company”) is pleased to announce that the Company’s listing has transferred from a SPAC (“Special Purpose Acquisition Company”) to the Investment Services sector of the JSE Limited (“JSE”). The move was facilitated by the completion of the acquisition of an effective see-through economic interest of 25.2% in Dorper Wind Farm (Proprietary) Limited (“Dorper” or “the Acquisition”) for R501 million (“Viable Asset Transaction”)….

Carlyle to become largest shareholder in South Africa’s Global Credit Ratings

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JOHANNESBURG (Capital Markets in Africa) – Carlyle Group has agreed to become the largest shareholder in Johannesburg-based Global Credit Ratings (GCR), the U.S. buyout fund said on Tuesday, looking to broaden the pan-African ratings agency’s services. Terms of the deal, which was first reported by the Financial Times, were not disclosed. Carlyle is set to buy around half of the equity in GCR from its management founders and German development finance business DEG, which will remain…

Germany and African Countries Seek to Strengthen Trade and Investment Ties

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LAGOS (Capital Markets in Africa) – This year, Germany will host the first ever privately held event exclusively dedicated to strengthening trade and investment ties between Germany and the African continent. The Germany-Africa Business Forum (www.GermanyAfrica.com), which will take place March 23, 2017 in Frankfurt, capitalizes on a wave of interest taken by the German government and companies to increase their engagement with African countries. Last October, German Chancellor made a 3-day visit to Mali,…

Brexit, Trump worries push gold to highest in almost 8 weeks

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LONDON (Capital Markets in Africa) – Gold jumped more than 1 percent to its highest in nearly eight weeks on Tuesday, as excerpts of a speech to be given later by Britain’s prime minister pointed to a definitive exit from the European Union. Safe-haven assets such as gold, the Japanese yen and U.S. Treasuries benefited as investors sought refuge from the uncertainty of what a “hard Brexit” would mean for global markets. Spot gold rose 1.1…

Africa’s Most Valuable Business Worth Less Than What It Owns

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JOHANNESBURG (Capital Markets in Africa) – Fifteen years ago, a South African media company invested $34 million in an obscure Chinese Internet developer. Today that stake is worth $88 billion. All Naspers Limited, now Africa’s most valuable company, has to do is figure out how to make money from its other properties: The whole company is worth only $72 billion, less than its stake in Shenzhen-based Tencent Holdings Limited. Investors aren’t impressed with Naspers’s operations in pay-TV, newspapers and e-commerce…

Egypt fixes customs dollar exchange rate to help importers

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CAIRO (Capital Markets in Africa) – Egypt will fix its customs dollar exchange rate and adjust it on a monthly basis to help importers better cope with a pricing of their products after the central bank floated its currency in November. The Finance Ministry fixed the customs exchange rate at 18.5 pounds per dollar until the end of February and said it will review the rate each month, state news agency MENA reported late on Monday….

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