The Editorial Team |

Nigerian Equities Retreat as Manufacturing Stocks Slide… NSE ASI down 3bps

LAGOS (Capital Markets in Africa) – The Nigerian bourse was unable to sustain the positive trend maintained since the start of the week as the All Share Index (ASI) trimmed a marginal 3bps today to close at 28,027.23 points. Accordingly, market capitalisation declined N2.4bn to close at N9.6tn as sell pressure was renewed on NESTLE (-2.4%), WAPCO (-2.7%), DANGSUGAR (-2.7%) and FLOURMILL (-3.1%). Also, activity level softened as volume and value traded fell by 5.3% and 47.3% to settle at 155.6m…

Nigeria approves transfer of Visafone shares to MTN following takeover

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LAGOS (Capital Markets in Africa) – Nigeria’s telecommunications regulator NCC said on Tuesday it has approved a request by internet provider Visafone to transfer its shares to MTN following its takeover by the South African firm. MTN bought Visafone in January to improve its broadband services in its biggest market Nigeria. “The NCC, in line with its procedure granted a Final-Approval to Visafone for the change in its shareholding structure,” the regulator said in a…

Kenyan private equity firm Fanisi Capital launches second fund

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NAIROBI (Capital Markets in ) – Kenyan private equity house Fanisi Capital is looking to raise $75-100 million for its second fund to invest in firms in East Africa, it said on Wednesday. Fanisi, which has already invested its first fund worth $50 million in healthcare, food processing and education, said up to $40 million of the new fund will be raised locally. “Several leading pension funds have already committed to putting money into the…

Synergy Capital Managers invests in Ghanaian multiproduct company

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ACCRA (Capital Markets in Africa) – Synergy Capital Managers (Synergy), through its Synergy Private Equity Fund (SPEF), has completed an equity investment in Vester Oil Mill Limited Ghana (Vester), a multiproduct company producing oilseed meals and oilseed crude oils including soybean, palm kernel nut and Copra (dried coconut kernel). Vester is one of the top five seed oil mill operators in Ghana evolving from a small scale processing plant in 2002 to a 50MT daily…

Egypt’s debts to international oil companies rise to $3.58 bln at end-Sept

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CAIRO (Capital Markets in Africa) – Egypt’s debts to international oil and gas companies rose to $3.58 billion by the end of September, the oil minister said, from about $3.2 billion six months ago. The oil ministry said last year that it aimed to reduce its arrears to foreign oil and gas companies operating in the country to $2.5 billion by the end of 2015 and pay them off completely by the end of 2016….

South Africa’s Banks: Examining the Current Environment, Exploring the 10 Year Outlook

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LAGOS (Capital Markets in Africa) – The 2015/16 Global Competitive Index, published by the World Economic Forum, rates the SA banking sector 6 out of 140 countries in the availability of financial services and 8th in the soundness of banks. This is high praise for a banking sector that is small in global terms, but is globally connected and punches way above its weight globally. The quarterly S A Reserve Bank Report details statistics that…

Mauritius’ Banking Sector: Overview, Challenges and Opportunities

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Banking Sector Overview Over 20 banks operate in Mauritius and, in addition to traditional banking services, they offer a range of specialised services ranging from custodial services to cross-border activities. Half of these banks offer retail banking services to residents – a space dominated by a couple of players – while the rest focus on specialised international banking services and also include a couple of purely private banks. In Mauritius, the domestic operations are typically…

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