The Editorial Team |

Opportunities in Africa’s M&A Amidst Current Uncertainty

JOHANNESBURG (Capital Markets in Africa) – In spite of the current challenges facing the M&A landscape in Africa, there are pockets of opportunity as businesses review their strategies in response to changing global realities. The inability to confidently interpret information in Africa is fuelling uncertainty in the continent’s corporate transaction landscape. While this has lent an element of uncertainty to businesses considering African acquisitions, for those able to read the signs, Africa’s fundamentals remain positive…

Zimbabwe halves 2016 growth forecast, budget deficit widens

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HARARE (Reuters) – Zimbabwe’s economy will grow by 0.6 percent in 2016, half the previous forecast, but will recover next year, Finance Minister Patrick Chinamasa said in a budget speech on Thursday. Chinamasa said the budget deficit for the 2017 fiscal year was estimated at $400 million, equivalent to 3 percent of GDP, up from 1.1 percent in this year. In addition, Zimbabwe expects its 2016 fiscal budget deficit to widen to $1.18 billion, nearly…

African debt capital markets resilient in face of growth challenges

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JOHANNESBURG (Capital Markets in Africa) – Debt capital markets in Africa remain resilient, displaying innovation in response to challenging regional and global environments. A review of the continent’s activity in debt capital markets reveals continued growth in issuance, including the evolution of new asset classes. These positive trends speak well to both the resilience and future growth prospects of Africa’s debt capital markets. Debt capital markets across Africa’s sub-regions have remained robust despite the macroeconomic…

Nigeria Plans $3.2 Billion Capitalization for Farming Lender

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LAGOS (Capital Markets in Africa) – Nigeria plans to capitalize its state-owned Bank of Agriculture with 1 trillion nairas ($3.2 billion) and will allow the lender to take deposits as Africa’s most-populous nation seeks to boost farming output and reduce food imports. “We are looking at 25 million farmers” as stakeholders or depositors, Agriculture and Rural Development Minister Audu Ogbeh said in an interview Monday in the capital, Abuja. “We are probably going to take a major step…

Taaleri to invest in Africa’s real estate

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NAIROBI (Capital Markets in Africa) – Finnish private equity fund and financial services group Taaleri Plc plans to invest Sh10 billion ($100 million) in East and South African real estate projects. Taaleri, in partnership with local private equity firm Cytonn Investments, has so far invested about Sh4 billion in the Kenyan real-estate market. The two companies are exploring more investment opportunities in both real estate and renewable energy sectors. “East Africa is the area where…

Egypt’s Upside-Down Bond Market Vindicates Shock Devaluation

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CAIRO (Capital Markets in Africa) – A bond-market quirk is vindicating Egypt’s decision to undertake the world’s biggest currency devaluation in at least two years. The yield on the government’s shortest-maturity treasury bills is higher than the rate on its longest debt for the first time since Bloomberg started tracking the market in 2006. That so-called yield inversion is a welcome signal because it points to slower inflation and lower interest rates in the future, according…

Tanzania Says It May Draw $9.2 Billion in Cement Investment

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DAR ES SALAM (Capital Markets in Africa) – Three companies plan to invest as much as 20 trillion shillings ($9.2 billion) in Tanzanian cement production in projects that could double the nation’s installed capacity, Trade and Industry Minister Charles Mwijage said. The government of East Africa’s second-biggest economy, with gross domestic product of $45 billion, has infrastructure projects planned, including the $10 billion Bagamoyo port development, a $7-billion railway and a $4-billion crude oil pipeline from neighboring…

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