The Editorial Team |

Local Vote May Spur ANC Policy Turn on South African Economy

Johannesburg, Capital Markets in Africa: South Africa’s most competitive elections since the end of white minority rule in 1994 may force the ruling African National Congress to alter its economic course to address criticism that it’s not doing enough to tackle poverty or reduce a 27 percent unemployment rate. Investors will probably welcome any slippage in the ANC’s dominance in Wednesday’s municipal elections because it could push the party to do more to attract investment…

Australia Rejoins Global Disinflation Fight With Record Low Rate

Posted on by The Editorial Team

LAGOS, Nigeria, Capital Markets in Africa: Australia’s record low interest-rate following Tuesday’s cut underscores the demise of its economic exceptionalism: swept up in a wave of global disinflation, policy makers had little choice but to step in line with international peers as a strengthening currency threatens to push prices lower still. It’s a far cry from five years ago when the benchmark rate was a developed-world high 4.75 percent and the local dollar was worth more than…

Oil Rises From $40 After Dropping Into Bear Market on Oversupply

Posted on by The Editorial Team

LAGOS, Nigeria, Capital Markets in Africa: Oil rose in New York amid speculation the oversupply still weighing on global markets will diminish, even after prices fell into a bear market on Monday. Futures gained 1.2 percent after dropping below $40 on Monday for the first time since April. While crude and gasoline inventories are forecast to have declined, they will remain at the highest seasonal level in at least two decades. Still, the retreat is driven by a…

Vodafone Uses Voiceless Africa Plans to Get Tech-Savvy Youth

Posted on by The Editorial Team

LAGOS, Nigeria, Capital Markets in Africa: Inside a packed Vodafone Group Plc store in the Zambian capital of Lusaka, a group of the city’s tech-savvy students wait in line for wireless modems they hope will transform their ability to surf the internet. They don’t even care that they won’t be able to get a voice plan to talk over the British mobile operator’s network since Vodafone doesn’t have a license for that. “The coming of Vodafone is…

Investment | Sahel Capital in Dayntee Farms deal

Posted on by The Editorial Team

LAGOS, Nigeria, Capital Markets in Africa: Sahel Capital, Fund Managers for the Fund for Agricultural Finance in Nigeria (FAFIN), announced its most recent investment – in Dayntee Farms Limited, a commercial poultry farm located in Kwara State, in the North Central region of Nigeria. Founded in 2011, Dayntee Farms produces a variety of poultry products including table eggs, day‐old chicks and point‐of‐lay birds, which it supplies to customers across the country. The company is run by a strong management…

Nedbank Heads for Eight-Month High on Surprise Profit Increase

Posted on by The Editorial Team

Johannesburg, Capital Markets in Africa: Nedbank Group Ltd., the South African lender controlled by Old Mutual Plc, reached the highest level in eight months after first-half profit rose, beating analyst estimates that had predicted a decline. The shares jumped as much as 8.3 percent on Monday before paring gains, leading returns on the seven-member FTSE/JSE Africa Banks Index. First-half earnings per share excluding one-time items climbed to 11.19 rand from 11.01 rand a year earlier as bad-loan impairments improved….

Zimbabwe Securities Regulator Approves Debt Listing Rules

Posted on by The Editorial Team

HARARE, Capital Markets in Africa: Zimbabwe’s securities regulator has approved rules allowing companies to raise debt capital on the nation’s stock exchange, including minimum requirements for amounts and maturities of bond sales. Companies will have to raise a minimum of $1 million with a maturity of at least one year to qualify for a listing, according to draft regulations approved by the Securities and Exchange Commission last month, a copy of which was obtained by Bloomberg…

« 1 … 861 862 863 864 865 … 1,077 »