The Editorial Team |

Germany and African Countries Seek to Strengthen Trade and Investment Ties

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….

South Africa Scrambles as $10.3 Billion in Welfare Threatened

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JOHANNESBURG (Capital Markets in Africa) – South Africa’s government, set to miss a deadline to appoint a new distributor of welfare grants worth about $10.3 billion a year to more than 17 million people, asked aspirant bidders to an information session as the end of a contract with Net 1 UEPS Technologies Inc. looms. The South African Social Security Agency, which oversees the monthly payment system, took the first step toward appointing a new distributor at the session…

Kenya’s economy to grow at a slower pace this year, IMF Rep Says

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NAIROBI (Capital Markets in Africa) – Kenya’s economic growth rate will slow in 2017, from about 6 percent last year, due to sluggish credit growth and as investors take a wait-and-see attitude before a presidential election in August, a senior IMF official said on Monday. Armando Morales, the International Monetary Fund’s representative in Kenya, said growth is likely to remain within the 5-6 percent range of the past five years, despite the slowdown. “We expect a…

AfricInvest and Bpifrance launch French African Fund

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TUNIS (Capital Markets in Africa) – AfricInvest and Bpifrance are pleased to announce the launch of the French African Fund (FFA), the first cross-border investment fund dedicated to the development of small and medium-sized enterprises (SMEs) in both Africa and France. The fund will be managed by AfricInvest, a leading pan-African mid-cap-focused private equity firm with almost EUR1bn of funds under management and offices in six African countries as well as in France. A pool of…

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