The Editorial Team |

Nigeria: Contraction in Household Spending Drags Half Year 2016 GDP by Expenditure

LAGOS (Capital Markets in Africa) – The National Bureau of Statistics (NBS) late last month released Q1 and Q2 2016 GDP by expenditure data. Expectedly, the data showed the economy on a sticky wicket, which is in line with observations from supply side computations released for the two-quarters much earlier in the year. However, the statistics give us a better view of structural and cyclical demand-side drivers of the business cycle. For the two quarters,…

IFC and FMO invest in MOBISOL for East Africa Solar Energy deal

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NAIROBI (Capital Markets in Africa) – IFC, a member of the World Bank Group, and FMO, the Dutch development bank have invested in Mobisol GmbH, a pay-as-you-go solar energy service company, to deliver renewable energy solutions to off-grid communities in East Africa. IFC’s equity investment of EUR 5.42 million and EUR 9.2 million from the AEF and MASSIF Dutch government funds managed by FMO brings them into partnership with Investec Asset Management’s African Private Equity…

Standard Bank buys SnapScan maker, Firepay

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JOHANNESBURG (Capital Markets in Africa) – Standard Bank has announced that it has acquired a majority stake in Firepay – the team behind South Africa’s largest mobile payments product, SnapScan. Firepay was formed in 2013 to apply new mobile payments technology to build innovative products. In 2014 Firepay, in partnership with Standard Bank, launched SnapScan to allow customers to pay for goods and services using only their mobile phone. SnapScan is now used by hundreds…

Egypt’s inflation reaches highest level since 2008, to further increases

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CAIRO (Capital Markets in Africa) – Annual inflation has reached its highest point in eight years, increasing to 20.2 percent in comparison to the figures posted in November 2015. Monthly inflation has also produced a noticeable spike, increasing to 5 percent, according to data published by the Central Agency for Public Mobilization and Statistics on Thursday. November’s annual core inflation rate – which represents long-term price trends, excluding volatile items – surged to 20.73 percent, up from…

OPIC commits $200 million to two Africa-focused funds

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LAGOS (Capital Markets in Africa) – The Board of Directors of the Overseas Private Investment Corporation (OPIC), the U.S. Government’s development finance institution, today approved $700 million in new financing and insurance to support four projects. These private sector-led development projects will invest globally in Asia, Sub-Saharan Africa, and the Middle East in a variety of sectors including energy, financial services, transportation, technology, and telecommunications. “Today, OPIC approved $700 million in support of development projects…

Sharp Increase in the Activity of Moroccan Companies in Sub-Saharan Africa

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CASABLANCA (Capital Markets in Africa) – Aware of the unprecedented impetus of African economies and of the potential offered by the various national and sub-regional markets, Moroccan and French companies are demonstrating new ambitions in Africa, which are expressed in their development strategies on the continent. According to the third edition of BearingPoint’s International Development Barometer of international firms, “Developing in Africa: comparisons of Moroccan and French companies”, which is produced in conjunction with the…

Namibia’s economic growth to slow sharply in 2016 – IMF

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WINDHOEK (Capital Markets in Africa) – Namibia’s economy growth will slow to 1.6 percent this year from more than 5 percent in 2015 after a contraction in the mining sector and reduced government spending, the International Monetary Fund said on Thursday. “Growth is projected to temporarily weaken in 2016 to 1.6 percent as the construction of large mines ends and the government starts consolidating,” the lender in a statement at the end of a visit…

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