The Editorial Team |

Kenya’s Corporate Governance Practices Code, 2015

LAGOS, Nigeria, Capital Markets in Africa: The Kenyan Capital Markets Authority (the Authority) has issued a code of corporate governance known as the Code of Corporate Governance Practices for the Issuers of Securities to the Public 2015 (the 2015 Code). The 2015 Code has replaced the Guidelines on Corporate Governance Practices by Public Listed Companies in Kenya, 2002 (the “2002 Guidelines”). It applies to all companies that issue both debt and equity securities to the…

South Africa to Stick to Fiscal Path Even as ANC Support Falls

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Johannesburg, Capital Markets in Africa: South Africa’s government will stick to the fiscal targets and objectives set out in the budget even as the ruling African National Congress’s support fell in last week’s election, the National Treasury said. “Government remains committed to implementing fiscal consolidation and returning public finances to a sustainable path,” the Treasury said in an e-mailed statement on Monday. “Government’s track record of achieving fiscal targets lends weight to future fiscal plans,…

Emerging Markets Rally to One-Year Highs on Stimulus Prospects

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LAGOS, Nigeria, Capital Markets in Africa: Emerging-market stocks and currencies rose to their highest levels in more than a year as prospects for central bank stimulus and a better-than-expected U.S. jobs report fueled demand for higher-yielding assets. Turkish bonds rallied and the lira strengthened after Moody’s Investor Service delayed a potential sovereign downgrade. South Korean stocks rallied after S&P Global Ratings raised the country’ credit ranking. Russia’s ruble rose for a fifth day as oil sold for more than…

Infrastructure | Developing Transport, Energy and ICT Infrastructure in Uganda

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LAGOS, Nigeria, Capital Markets in Africa: In his reading of the National Budget Speech 2016/17 on 8th June this year, Finance Minister Matia Kasaijia noted that funding strategic transport, energy and Information Communications Technology (ICT) infrastructure was a key priority of the Ugandan Government. Kasaijia said that infrastructure development contributed immensely to increased productivity by facilitating efficient connectivity and easing the movement of goods and the provision of services. Infrastructure funding currently comprises about 32.8%…

Plugging Africa’s Infrastructure gap through Public Private Partnerships

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LAGOS, Nigeria, Capital Markets in Africa: Africa is widely acknowledged as being the ‘preeminent emerging markets investment destination’ attracting global investors across all sectors. Investors seeking relatively higher risk-adjusted returns are appraising opportunities across the consumer sector, services and Infrastructure. However, one of the key constraints to economic growth in Africa is the lack of adequate and well-maintained infrastructure. Various studies on the infrastructure deficit have been carried out by multi-lateral agencies most notably a…

INTO AFRICA August Edition: INFRASTRUCTURE FINANCE IN AFRICA

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LAGOS, Nigeria, Capital Markets in Africa: Welcome to the August edition of INTO AFRICA, a publication with fresh insight into Africa’s emerging capital markets. The edition focuses on Infrastructure Financing in Africa. Please download by clicking INTO AFRICA PUBLICATION: AUGUST EDITION. Africa has experienced rapid and exponential economic growth in the last decade and a half. This growth has occurred despite the continent’s huge infrastructure deficit, one of the reasons why economists and policy commentators question Africa’s economic growth…

Moody’s assigns B2 first-time issuer rating to the Republic of Cameroon with stable outlook

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Yaoundé, Cameroon, Capital Markets in Africa: Moody’s Investors Service (“Moody’s”) has today assigned first-time local and foreign-currency issuer ratings of B2 to the Government of Cameroon. The ratings carry a stable outlook. The rating assignment is based on the following key drivers: (1) Low (+) economic strength balancing the country’s exposure to the oil shock—albeit more contained than for regional peers—and our expectation of a stronger potential growth outlook supported by the infrastructure investment strategy…

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