The Editorial Team |

Messiest Politics the Best, Emerging-Market Money Manager Says

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…

South Africa Current-Account Gap Narrows as Rand Boosts Exports

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Johannesburg, Capital Markets in Africa: South Africa’s current-account deficit narrowed to 3.1 percent of gross domestic product in the second quarter after the nation’s exports received a boost from the lagged effect of last year’s rand weakness. The gap on the current account, the broadest measure of trade in goods and services, narrowed from a revised 5.3 percent in the first three months after the nation recorded its first quarterly trade surplus in a year, the Reserve Bank…

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