The Editorial Team |

Emerging-Market Stocks Become a Smart Bet in a Post-Brexit World

LAGOS, Nigeria, Capital Markets in Africa: Emerging-market stocks are looking like a smart buy as investors begin to view the developed world, from frequent terror attacks to a troubled European Union, as the sometimes riskier proposition. This year, emerging-nation equities have outperformed their developed peers as concern over a hard landing in China subsided and a rebound in commodity prices propped up export-dependent economies. The U.K. vote to quit the world’s biggest trading bloc against a backdrop of…

Kenya Pauses Monetary Easing, Sees Moderate Inflation Pressure

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NAIROBI, Kenya, Capital Markets in Africa: The Central Bank of Kenya maintained its benchmark interest rate at 10.5 percent with an eye on accelerating inflation and concerns that Britain’s exit from the European Union may trigger capital flight. The decision by the monetary policy committee led by Governor Patrick Njoroge was anticipated by seven of eight analysts surveyed by Bloomberg. One economist predicted a 50 basis point reduction at Monday’s meeting, following one percentage point cut at the previous gathering in…

Egypt to Receive First Tranche of $1.5 Billion Saudi Loan ‘Soon’

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CAIRO, Egypt, Capital Markets in Africa: Egypt will “soon” receive the first tranche of a $1.5 billion loan from Saudi Arabia, an Egyptian minister said, a cash injection that could help to ease a dollar shortage that has weighed on economic growth. The first payment will be about $500 million, Egypt’s Minister of International Cooperation Sahar Nasr said. The loan is one of a package of agreements worth $25 billion signed during Saudi King Salman’s visit to Cairo in April, which…

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

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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,…

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