The Editorial Team |

Best Western Continues Impressive Expansion into East Africa

KIGALI (Capital Markets in Africa) – Best Western® Hotels & Resorts adds another hotel to its East African portfolio. The newest addition is BW Premier Collection The Alba, located in Nairobi, Kenya. Centrally located, with easy access to businesses, offices, banks, shopping and tourist attractions, it is the ideal place to stay in Nairobi for either business or pleasure. The new construction property, set to open in Q3 2017, features 83 carefully designed rooms all…

INTO AFRICA October Edition: Banking in Africa: The current status

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LAGOS, Nigeria, Capital Markets in Africa: Welcome to the October edition of INTO AFRICA, a publication with fresh insight into Africa’s emerging capital markets. In this edition, we have a special focus on the Banking Sector in Africa, with an overview of the current trends and opportunities in the Sector. Please download by clicking: INTO AFRICA PUBLICATION: OCTOBER EDITION. The banking sectors in African countries have been on an upward path for nearly a decade posting record growth rates while at the…

Zuma Complains About Criticism From AngloGold, Sibanye Leaders

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JOHANNESBURG (Capital Markets in Africa) – South African President Jacob Zuma’s office said it’s concerned by the “relentless public attacks” on him by leaders of Sibanye Gold Ltd. and AngloGold Ashanti Ltd. The presidency issued the statement after recent calls by AngloGold Ashanti Chairman Sipho Pityana and Sibanye Chief Executive Officer Neal Froneman urging Zuma to resign, arguing that his government’s poor record is deterring investment and economic growth. While Zuma respects freedom of speech, “such dialogue is more helpful…

Zuma Urged to Intervene in Gordhan Police Probe by ANC Leader

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JOHANNESBURG (Capital Markets in Africa) – South African President Jacob Zuma must intervene in the police investigation of Finance Minister Pravin Gordhan because it’s heightening chances that the nation’s credit rating will be downgraded to junk, said the Johannesburg chairman of the ruling party, Parks Tau. “The issues around the finance minister require urgent intervention because the single most important task right now is to ensure that all of us as South Africans protect the economy of this country,” Tau,…

Anglo’s Top Shareholder Wants More South African Control

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JOHANNESBURG (Capital Markets in Africa) – Anglo American Plc’s biggest shareholder wants South African investors to follow its lead and increase their holdings in the century-old miner as it pushes for the creation of a domestic commodities “champion.” “Our role is to make Anglo more South African-owned and controlled,” Public Investment Corp. Chief Executive Officer Dan Matjila said in an interview on Tuesday in the capital, Pretoria. “We have been vocal and when the price was low we…

MTN Raises $1 Billion in Bond Sale to Fund Capital Expenditure

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JOHANNESBURG (Capital Markets in Africa) – MTN Group Ltd., Africa’s largest wireless carrier by sales, raised $1 billion through the sale of bonds to boost working capital and fund capital expenditure. The Johannesburg-based company sold $500 million of February 2022 notes with a coupon of 5.373 percent and the same amount of October 2026 securities at 6.5 percent, MTN said in a statement on Thursday. The company sought funds after reporting its first-ever half-year loss,…

World Bank cuts Uganda’s GDP forecast, citing South Sudan

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KAMPALA (Reuters) – The World Bank cut its 2016/2017 growth forecast for Uganda on Thursday to 5.5 percent from 5.9 percent, citing the impact of South Sudan’s conflict on its exports and sluggish investments due to slower economic activity globally. South Sudan is one of Uganda’s major export markets but roads between the two countries have been unsafe since an eruption of violence in South Sudan in July. “The current economic forecast … is ……

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