The Editorial Team |

Diamond Industry Plans to Woo U.S. Generation Favoring Gadgets

LAGOS, Nigeria, Capital Markets in Africa: The $80 billion diamond industry is preparing to woo America’s millennial generation after a decade of promotional silence that has seen the gems lose out to other luxury goods. The Diamond Producers Association, which was established last year to promote the stones, will unveil a new advertising campaign in Las Vegas Friday as it seeks to rally younger consumers. It will focus on the U.S., the biggest market for diamonds. “Diamond…

Zuma, Gordhan’s Conflicting Orders Frustrate SAA’s Acting CEO

Posted on by The Editorial Team

Johannesburg, South Africa, Capital Markets in Africa: South African Airways is having to deal with conflicting orders from the country’s Finance Minister Pravin Gordhan and President Jacob Zumaand that’s hindering the unprofitable state-owned airline from making a full recovery, acting Chief Executive Officer Musa Zwane said. The carrier needs firm decisions on whether SAA should be privatized, how it should be capitalized, the make-up of a new board and a new CEO, Zwane said in an interview. The former head of the…

Commodities Stand on Brink of Bull Market After Oil’s Recovery

Posted on by The Editorial Team

LAGOS, Nigeria, Capital Markets in Africa: Commodities are approaching a bull market after prices rebounded from the lowest in at least 25 years on a rally in oil, soybeans and zinc. The Bloomberg Commodity Index, which tracks returns from 22 raw materials, climbed 0.7 percent to 87.31 by 8:44 a.m. in New York. A close above 87.45 would mark a 20 percent advance, meeting the common definition of a bull market. Prices briefly surpassed that level today….

Market Watch: Emerging Stocks Climb to Four-Week High as Turkish Bonds Advance

Posted on by The Editorial Team

LAGOS, Nigeria, Capital Markets in Africa: Emerging-market stocks headed for its highest close in four weeks as rising oil prices bolstered optimism the global economy is strong enough to withstand an U.S. interest-rate increase. Turkish bonds rallied after core inflation fell the most in more than a year. The MSCI Emerging Markets Index capped a 0.4 percent advance for the week after Brent crude closed above $50 a barrel and OPEC ministers said global oil markets…

WorldRemit Marks Africa for Share of $36 Billion Cash Transfers

Posted on by The Editorial Team

LAGOS, Nigeria, Capital Markets in Africa: WorldRemit is seeking transactions in every African country by October as the company seeks a bigger share of the continent’s money transfers which are forecast to reach $36 billion this year. WorldRemit is currently operating in 34 of Africa’s 54 states and is using partnerships with cellular operators such as MTN Group Ltd. and Vodafone Group Plc to grow the number of money transfers through mobile technology, the London-based, closely held…

Fund Raising | Actis raises over $500m for new African real estate fund

Posted on by The Editorial Team

LONDON, Capital Markets in Africa: Actis, a leading growth markets investor, is pleased to announce that it has reached final closing on its third opportunistic private real estate fund, Actis Africa Real Estate Fund 3 (“ARE3”) with commitments totalling more than $500m, comfortably exceeding its original $400m target. ARE3 is the largest opportunistic private real estate fund targeting sub-Saharan Africa raised in the market to date. ARE3 has a diverse investor base, including pension funds,…

Ghana Market | For a Lesson in Precisely How Not to Do an IPO, Look at Ghana

Posted on by The Editorial Team

ACCRA, Ghana, Capital Markets in Africa: It was supposed to be sub-Saharan Africa’s biggest share sale by a state company in almost 10 years. Instead, it’s a lesson in how not to conduct a privatization. More than two months after Ghana’s Agricultural Development Bank Limited received bids totaling $113 million in an initial public offering, and a decade after ending state ownership was first discussed, the company is reopening the sale, essentially invalidating the first auction….

« 1 … 890 891 892 893 894 … 1,073 »