The Editorial Team |

Equity of Kenya Has 100 Billion Shillings to Help Double Loans

NAIROBI, Capital Markets in Africa: Equity Group Holdings Ltd., Kenya’s biggest lender by market value, has as much as 100 billion shillings ($987.5 million) available for additional lending as it seeks to double business loans over the next three years, its directors said. With about 50 percent of the bank’s highest quality assets as a proportion of its cash outflows available, the lender has more than enough liquidity on hand for more loans, Chief Executive Officer James…

Messiest Politics the Best, Emerging-Market Money Manager Says

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LAGOS, Capital Markets in Africa: Developing countries experiencing the deepest political turmoil shouldn’t deter investors, because they offer some of the best opportunities, according to the joint head of Old Mutual Investment Group’s emerging-markets unit. “The politics always give us an opportunity,” Siboniso Nxumalo, co-head of Global Emerging Markets at OMIG, told reporters in Johannesburg Wednesday. “The best-performing market in the world this year is Brazil, which had one of the messiest politics. Russia is the second-best…

Investment | China Brewer Said to Mull Bid for $6 Billion SABMiller Units

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LAGOS, Capital Markets in Africa: China Resources Beer Holdings Co., maker of the world’s most consumed beer, is considering a bid for SABMiller Plc’s central and eastern European assets, valued at about $6 billion, according to people familiar with the matter. The producer of China’s Snow beer brand is speaking with potential advisers about a bid, the people said, asking not to be identified as the details aren’t public. A sale process for the assets, which…

Deal or No Deal, OPEC’s Freeze Talks Are Already Succeeding

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LAGOS, Nigeria, Capital Markets in Africa: Even as speculation builds over whether OPEC will clinch an output deal with Russia this month, their negotiations are already paying off. Hedge funds and other investors reversed their bets on falling oil prices at the fastest pace in five months after producers said they would meet in Algiers, data from the U.S. Commodity Futures Trading Commission show. While skepticism has grown about whether the Organization of Petroleum Exporting Countries,…

Ghana’s Mahama Pledges End to IMF Bailouts in New Term Bid

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ACCRA, Capital Markets in Africa: Ghanaian President John Dramani Mahama pledged that the West African country won’t seek further bailouts from the International Monetary Fund while economic growth will almost double next year as he seeks a second term. Mahama is leading his National Democratic Congress to polls scheduled for December while the country is in the second year of an almost $1 billion loan-program with the IMF. Ghana turned to the Washington-based lender in April 2015 after…

Libya Bids to Resume Oil Exports From Key Ports Within Weeks

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LIBYA, Capital Markets in Africa: Libya’s National Oil Co. plans to restart oil exports from key ports “immediately” after reaching a deal with Khalifa Haftar, commander of the military forces who took control of the facilities on Sunday. The resumption of shipments from ports including Ras Lanuf, Es Sider and Zueitina would allow Libya to double crude output to 600,000 barrels a day within four weeks, NOC Chairman Mustafa Sanalla said Tuesday in a statementon the company’s website. The…

Heineken Looks to Premium Brands in South African SAB Battle

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Johannesburg, Capital Markets in Africa: Heineken NV’s recent introduction of Sol Mexican lager to South Africa forms part of a plan to boost its market share in a country dominated by soon-to-be-acquired SABMiller Plc. The Dutch brewer brought Sol to South Africa this month and plans to add more premium brands there, country head Ruud van den Eijnden said in an interview Tuesday. Growth will also be achieved through established brands such as Heineken, Amstel and Windhoek, he…

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