The Editorial Team |

South Africa Most Exposed to Brexit Fallout in Region, Moody’s Says

South Africa, Capital Markets in Africa: South Africa’s reliance on foreign money to finance the shortfall on its current account makes it the most vulnerable in sub-Saharan Africa to fallout from the U.K.’s vote to quit the European Union, Moody’s Investors Service said. “South Africa’s current-account deficit leaves it vulnerable to short-term capital outflows amid changes in investors’ risk perceptions and appetite,” Moody’s Vice President and Senior Analyst Zuzana Brixiova wrote in an e-mailed report…

Private Equity Activity, Growth and Performance in Morocco

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LAGOS, Nigeria, Capital Markets in Africa: Morocco has begun to emerge as a real operational platform for African investment seeking to position for the new economic dynamic in Africa. Building on a cornerstone location between West Africa, North America and Europe, and leveraging its own solid decade of successful market reforms and extensive, international-standard infrastructure expansion, Morocco is a bridging platform between the north and the south. Longstanding Africa commercial, cultural, and political ties and…

Mozambique Cuts 2016 Growth Forecast, Raises Inflation Outlook

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Mozambique, Capital Markets in Africa: Mozambique revised its 2016 budget, cutting its growth forecasts as some donors suspended aid after the government admitted to hiding more than $1.4 billion in debt. The country’s cut its gross domestic product growth forecast to 4.5 percent from 7 percent earlier, Finance Minister Adriano Maleiane said in the capital, Maputo, Thursday, following an extraordinary cabinet meeting to approve the State Budget Review. State revenue is projected to decline to…

Private Equity | LeapFrog companies reveal new model of growth, creating 102,000 jobs

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LAGOS, Nigeria, Capital Markets in Africa: LeapFrog Investments today announced that its portfolio companies now employ 102,438 people in Asia, Africa and Latin America. “Nothing sustains a family more than a secure job. Each job typically supports a family of five in our focus countries, while benefiting the wider community,” said Dr. Andrew Kuper, LeapFrog’s CEO and founder. “For the past three years, our financial services companies have grown annual revenue on average by 43…

Private Equity in Africa: A Force for Good

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“What improves the circumstances of the greater part can never be regarded as an inconvenience to the whole. No society can surely be flourishing and happy, of which the far greater part of the members are poor and miserable.”- Adam Smith, The Wealth of Nations Although Adam Smith, often referred to as the father of modern capitalism, may have not have been a proponent of businesses pursuing charitable activities, he clearly believed in a society…

Exxon Said to Join Qatar to Look at Giant Africa Gas Deal

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LAGOS, Nigeria, Capital Markets in Africa: Exxon Mobil Corp. and Qatar Petroleum have teamed up to look at energy assets in Mozambique, home to some of the biggest natural-gas discoveries in a generation, according to four people with knowledge of their plans. The companies are considering buying stakes in gas fields owned by Anadarko Petroleum Corp. and Eni SpA, the people said, asking not to be identified because the matter is confidential. They have a strong relationship and often discuss…

Brexit Offers Lifeline on $800 Billion Emerging Company Debt

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LAGOS, Capital Markets in Africa: Britain’s vote to exit the European Union has thrown a lifeline to emerging-market companies facing an $800 billion wall of maturing debt. By hindering the Federal Reserve’s plan to raise interest rates, the referendum result has led to speculation borrowing costs will remain lower for longer as policy makers attempt to prevent Europe’s turmoil turning into a recession. This means developing-nation companies that borrowed when it was cheaper to do so won’t have…

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