The Editorial Team |

Zimbabwe Stock Exchange Cuts Jobs After Trading Slumps

Harare, Zimbabwe, Capital Markets in Africa: The Zimbabwe Stock Exchange is cutting jobs and will soon announce a strategy to generate additional income after revenue fell by half in 2015 and has shown little sign of recovery this year, its chief executive officer said. Zimbabwe has suffered deflation for the past 18 months because of a fall in consumer demand and the economy is half the size it was in 2000. Cash shortages in a country that…

INTO AFRICA June Edition: Africa’s Bonds :- Coming of Age

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LAGOS, Nigeria, Capital Markets in Africa: Welcome to the June edition of INTO AFRICA with focus on Fixed Income in Africa and titled Africa’s Bonds: Coming of Age Africa’s fixed income markets have benefitted from tremendous growth dynamics during the past decade, as most of Africa’s sovereign borrowers have managed to strengthen their public finances to levels above the global average. In addition, the asset class is now opening to international investors and is well…

Investment | Gas May Transform Mozambique Even as Debt Darkens Confidence

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MAPUTO, Mozambique, Capital Markets in Africa: About 30 minutes down a pot-holed road from Vilanculos, where dhows ferry tourists to luxury resorts on Bazaruto island, Sasol Limited is ramping up output of a fuel that could transform the world’s 13th poorest nation. Vast gas discoveries hold the potential to boost Mozambique’s economy, more than three decades after the apartheid regime of neighboring South Africa backed rebels in a civil war that laid waste to the former Portuguese…

S&P Keeps South African Credit Rating One Level Above Junk

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Johannesburg, South Africa, Capital Markets in Africa: South Africa’s credit rating was kept unchanged by S&P Global Ratings, giving the nation a reprieve from a junk assessment, even as it warned it could lower the rating if the economy doesn’t recover. The foreign-currency rating was kept at BBB-, one level above junk, and the local-currency rating was affirmed at BBB+, S&P said in a statement on Friday. The outlook on the rating was kept negative….

Angola Leader Secures Economic Grip Naming Daughter as Oil Boss

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Luanda, Angola, Capital Markets in Africa: Angolan President Jose Eduardo dos Santos tightened his family’s grip on sub-Saharan Africa’s third-biggest economy two years before he has indicated he’ll leave office by naming his billionaire daughter Isabel as chairwoman of the state oil company. The appointment “shows that President dos Santos doesn’t trust anyone else and moreover that he’s looking to have a dynastic succession,” Markus Weimer, an analyst for Horizon Client Access Inc., an energy investment advisory group, said…

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

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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

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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…

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