The Editorial Team |

Investment | Mediterrania Capital Partners invests in MedTech Group, Morocco

Casablanca, Morocco, Capital Markets in Africa: Mediterrania Capital Partners, the regional private equity firm focusing on growth investments for companies in North African and sub-Saharan countries, announces the acquisition through its second fund, Mediterrania Capital II, of a stake in MedTech Group, Morocco’s leading IT business system integrator incorporating solutions from corporations such as Oracle, Microsoft, NCR, Alcatel-Lucent, Cisco, EMC and IBM. With 25 years of experience in the IT industry, nowadays MedTech is operating…

Desperate for Funding, Nigeria Prepares to Face Bond Investors

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LAGOS, Nigeria, Capital Markets in Africa: The odds are stacked against Nigeria as it looks to raise debt on the international markets for the first time in almost three years. Finance Minister Kemi Adeosun is leading a team of officials that will meet bond investors at London’s five-star Corinthia Hotel on Tuesday at a time when Africa’s biggest economy is on the verge of a recession, oil production has fallen to about a three-decade low, and the budget deficit…

South Africa | Sasol Set for Its Biggest Decline Since 1998 on Writedowns

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Johannesburg, South Africa, Capital Markets in Africa: Sasol Limited was set for the biggest decline in more than 17 years after saying fiscal full-year profit will drop by as much as 30 percent following write downs. The South African fuel producer reported impairments totaling 11.5 billion rand ($770 million), citing the collapse in energy prices. The shares fell 11 percent in Johannesburg, which would be the largest slump on a closing basis since October 1998….

Ghana Mulls Syndicated Loans After Abandoning Eurobond Sale

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ACCRA, Ghana, Capital Markets in Africa: Ghana is considering raising money through private bank loans, abandoning plans to sell as much as $1 billion of Eurobonds on concern its inability to raise targeted budget revenue may spark an investor selloff. With-lower-than-expected oil prices, the government can’t raise all the revenue needed to meet the budget gap, the Ministry of Finance said in a statement on its website. That may worry investors in Ghana’s Eurobonds and prompt them to…

Commodities Set to Break Into Bull Market After Four-Year Rout

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LAGOS, Nigeria, Capital Markets in Africa: The four-year bear market that pushed commodities to the lowest level in a quarter century is coming to end as supply constraints drive a recovery in everything from soybeans to zinc. The Bloomberg Commodity Index, which tracks returns from 22 raw materials, is on track to close more than 20 percent above its low on Jan. 20, meeting the common definition of a bull market. While the index has come close to…

South African Bonds Gain Most in Two Months With Rand on S&P

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Johannesburg, South Africa, Capital Markets in Africa: South African bonds gained, driving yields down the most in more than two months, after the country escaped a downgrade that would have left its debt rated so-called junk. Yields on benchmark rand bonds due December 2026 dropped 15 basis points, the most since March 13, to 9.04 percent by 3:23 p.m. in Johannesburg, adding to an 11-point decline on Friday after S&P Global Ratings affirmed South Africa’s…

Nigerian Ex President Goodluck Jonathan Defends Record on Curbing Corruption

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LAGOS, Nigeria, Capital Market in Africa: Former Nigerian President Goodluck Jonathan defended his government’s record on fighting corruption and denied his successor’s assertion that the country’s Treasury was left empty when he handed over power last year. Jonathan, 58, was succeeded in May 2015 by President Muhammadu Buhari, who accused the previous administration of looting billions of dollars and leaving the country’s finances “virtually empty.” “There’s no way he would have inherited an empty Treasury,” Jonathan said in…

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