The Editorial Team |

Private Equity | Ethos Capital’s JSE Listing to Fuel Private-Equity

South Africa, Capital Markets in Africa: EPE Capital Partners intends to raise as much as 2 billion rand ($140 million) in a stock placement and Johannesburg listing that will allow shareholders to invest in a portfolio run by sub-Saharan Africa’s largest private-equity firm. Ethos Capital, as the listing entity is known, will sell as many as 200 million shares on Aug. 5 to selected investors and institutions, including Coronation Asset Management (Pty) Ltd, Abax Investments (Pty)…

Kenya | Shakeout Looms for Kenyan Insurers Squeezed by Capital Rules

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NAIROBI, Capital Markets in Africa: A push by Kenyan regulators to clean up the East African country’s insurance industry is poised to trigger stake sales or exits by underwriters unable to meet the new capital requirements, according to an industry group. Most companies missed a June deadline to start building capital levels over the next three years, leaving many of them stuck with having to find investors to raise cash or to sell their companies completely, Association…

Ghana May Hold Rate to Aid Economy Growing Slowest Since ’83

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ACCRA, Ghana, Capital Markets in Africa: Slowing inflation could give Bank of Ghana Governor Abdul Nashiru Issahaku room to continue supporting an economy forecast to expand at the slowest pace since 1983. The Bank of Ghana will probably leave its benchmark interest rate unchanged at 26 percent for a fourth consecutive meeting on July 18, all four analysts surveyed by Bloomberg said. The central bank raised the rate four times by a total of 500 basis points last year to prop…

Nigeria’s Emefiele Said to Have Met Bond Investors in U.S., U.K

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LAGOS, Nigeria, Capital Markets in Africa: Nigeria’s central bank Governor Godwin Emefiele and Deputy Governor Sarah Alade travelled to the U.S. and U.K. this week to try and entice bond investors to buy assets in Africa’s largest economy, according to two people with knowledge of the talks. Emefiele and Alade met investors in Los Angeles, Boston, New York and London, according to the people, who asked not to be identified as the discussions were private. Several investors in London…

Guptas’ Oakbay Listing May Be Suspended on Lack of Sponsor

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South Africa, Capital Markets in Africa: Oakbay Resources & Energy Ltd., the company controlled by the Gupta family, may have its listing suspended by the Johannesburg Stock Exchange, the latest setback to the business interests of the friends of South African President Jacob Zuma who also lost their auditor and had the country’s major banks refuse to do business with them. JSE Ltd., which runs the exchange, said in a statement it may suspend Oakbay after it failed…

Sub-Saharan credit growth rates halve in two years says ODI report

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LAGOS, Nigeria, Capital Markets in Africa: Private credit growth across sub-Saharan Africa has more than halved over the past two years and ground to a halt in oil exporting countries following low oil prices and the economic slowdown in China, weighing heavily on regional growth prospects, a report said on Friday. With international finance having become ever scarcer and costlier, private credit in sub-Saharan Africa increased by just 7 percent in the first six months…

South Africa’s Economy is to Slow Down due to Zuma’s Questionable Integrity

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South Africa is on the brink of an economic catastrophe something must be done ASAP to arrest the decline in the country’s fortunes. Standard & Poor has downgraded South Africa’s sovereign rating to negative outlook and the rating might be downgraded further to junk in the near term. In December 2015, President Jacob Zuma was forced to appoint Pravin Gordhan as the finance minister after investor confidence fell to its lowest point in decades. South…

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