The Editorial Team |

Zambia, IMF Reach ‘Broad Consensus’ on Deal, Lungu Says

LIUSAKA, Capital Markets in Africa: Zambia has made “great progress and reached broad consensus” with the International Monetary Fund on a planned support package, President-elect Edgar Lungu said. Yields on the nation’s Eurobonds fell to the lowest in more than a year. Lungu, who narrowly won a Aug. 11 presidential election in Africa’s second-biggest copper producer, said in an e-mailed statement that having been elected for a whole term has given him time to implement difficult decisions he…

Chaos Looms in South Africa Local Councils as Malema Holds Veto

Posted on by The Editorial Team

JOHANNESBURG, Capital Markets in Africa: Sporting a slimmed-down physique and a newly earned university degree, South Africa’s political provocateur Julius Malema has emerged as the kingmaker in several key cities where the ruling party has lost outright control. The result may be chaotic. With neither the ruling African National Congress nor the main opposition Democratic Alliance winning a majority in 27 towns in Aug. 3 elections, Malema, 35, and his Economic Freedom Fighters may wield a veto…

Private Equity: A Value Add Infrastructure Investor, the largest Asset Class in Africa

Posted on by The Editorial Team

LAGOS, Nigeria, Capital Markets in Africa: Sub-Saharan Africa’s economies have shown impressive growth since the global financial crisis, outperforming the global average by 200 basis points. A critical underpin to this growth has been the flow of foreign capital from private sources into the continent’s leading economies. In no other sector is this as prevalent as infrastructure. Infrastructure development in Africa has lagged behind population growth over the past fifty years, and governments have begun…

Congo Slashes Growth Forecast After Drop in Copper Production

Posted on by The Editorial Team

DR CONGO, Capital Markets in Africa: The Democratic Republic of Congo cut its growth forecast for 2016 for the third time this year because of lower commodity prices and warned the economy could slow further if other industries don’t perform. The government “has duly noted the slowdown in economic growth in the DRC” in the first half, Prime Minister Augustin Matata Ponyo’s office said in a statement e-mailed from the capital, Kinshasa, on Thursday. It lowered the estimate…

Chinese to Invest $819 Million in South African Car Industry

Posted on by The Editorial Team

SOUTH AFRICA, Capital Markets in Africa: A Chinese state-owned car manufacturing company will invest 11 billion rand ($819 million) in a new plant in South Africa, giving a further boost to one of the fastest-growing industries in the continent’s largest economy. Beijing Automotive International Corp. signed the deal with the Coega Development Corporation, the operator of an industrial development zone in South Africa’s southern coast city of Port Elizabeth, Coega said in an e-mailed statement on…

South Africa’s Richest Man Says Continent Is ‘Retailer’s Dream’

Posted on by The Editorial Team

SOUTH AFRICA, Capital Markets in Africa: Africa’s large and youthful population represents an opportunity for retailers to expand even as conducting business in many countries remains a challenge, according to Christo Wiese, the billionaire chairman of the continent’s biggest food chain, Shoprite Holdings Limited. The potential is “a retailer’s dream,’’ Wiese, 74, who describes himself as an ‘Afro-optimist,’ said in an interview this week in Cape Town. “I don’t know how people ignore the fact that Africa…

Kenyan Treasury Secretary Says Banks Making Too Much

Posted on by The Editorial Team

NAIROBI, Capital Markets in Africa: Kenyan banks have been “expropriating too much profit” from the interest rates they charge on loans and have room to lower borrowing costs, Treasury Secretary Henry Rotich said. Lawmakers in East Africa’s biggest economy approved a bill last month that will limit the amount of interest banks can charge on loans to four percentage points above the central bank’s benchmark rate. The proposal is awaiting President Uhuru Kenyatta’s signature before it becomes law….

« 1 … 845 846 847 848 849 … 1,077 »