The Editorial Team |

DPI invests $35m in household appliances firm, B.TECH, Egypt

LAGOS, Nigeria, Capital Markets in Africa: Development Partners International (DPI), one of the leading African private equity specialists with US$1.1bn under management, has through its ADP II fund concluded an investment and strategic partnership with Egypt’s leading household appliances and consumer electronics retailer, B.TECH, that will see the fund investing EGP300mn in the company. B.TECH operates a fast-growing portfolio of 67 retail stores across 22 governorates in Egypt with a network of 362 wholesale dealers…

Infrastructure | South Sudan to Tap Solar Amid Teetering Peace Deal

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South Sudan, Capital Markets in Africa: Gigawatt Global Cooperatief UA, an Amsterdam-based renewable-energy developer, is working on South Sudan’s first solar project even as the country’s cease-fire teeters. The world’s youngest country, which gained independence from Sudan in 2011, struck a peace deal in August after a two-year civil war. Sitting atop Africa’s third-largest oil reserves, South Sudan has no working central electricity system and is powered entirely by privately owned diesel generators. “Some of…

South Africa May Move Rate Focus to Recession Risk

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Johannesburg, Capital Markets in Africa: South Africa’s rate-hiking cycle may be coming to an end amid the threat of the country’s first recession in seven years. After increasing the benchmark rate six times since the start of 2014, policy makers in Africa’s only Group of 20 economy are poised to keep it unchanged this week as a stronger currency gives them room to focus on the risks to growth. Those headwinds include weak export demand, the worst drought in…

Mauritius Cuts Rates by Biggest Margin Since 2012 on Brexit in July

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Mauritius, Capital Markets in Africa: The Bank of Mauritius reduced its benchmark interest rate by the biggest margin in more than four years, saying Britain’s decision to leave the European Union has damaged the Indian Ocean island nation’s growth outlook. The Monetary Policy Committee unanimously decided to lower its benchmark rate to 4 percent from 4.4 percent, Governor Rameswurlall Basant Roi told reporters Wednesday in the capital, Port Louis. The gauge had remained unchanged since November 2015,…

South Africa June Inflation Quickens First Time in Four Months

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Johannesburg, Capital Markets in Africa: South African inflation quickened for the first time in four months in June, complicating the task of the Reserve Bank as it deliberates before announcing its rates decision on Thursday. The inflation rate rose to 6.3 percent from 6.1 percent a month earlier, Pretoria-based Statistics South Africa said on its website on Wednesday. The acceleration was in line with the median of 23 economist estimates compiled by Bloomberg. Prices rose 0.6 percent in the month….

MTN Sinks as Nigeria Fine, Currency to Cause First-Half Loss

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LAGOS, Nigeria, Capital Markets in Africa: MTN Group Ltd. fell in Johannesburg trading as Africa’s largest mobile-phone company said it expects to report a first-half loss after agreeing to pay a record fine in Nigeria. The shares dropped 2.5 percent to 138.13 rand by 11:25 a.m., after earlier slumping as much as 3.8 percent, the most in three weeks on a closing basis. The 330 billion naira ($1.18 billion) settlement in Nigeria, announced in June, will reduce earnings per…

Nigeria’s Skye Bank Gains on Report Power Firm May Pay Debts

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LAGOS, Capital Markets in Africa: Skye Bank Plc, whose top management was replaced by regulators this month, surged for a second day following a report that a major debtor reached an agreement that may help it repay the Nigerian lender. The stock closed up 9.1 percent to 72 kobo in Lagos, the best performer on the 171-member Nigerian Stock Exchange All-Share Index. Almost 58 million shares were traded, about four times the three-month daily average. Skye plunged…

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