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MTN Slumps After Nigeria Suspends Talks on $3.9 Billion Fine

Johannesburg, South Africa, Capital Markets in Africa: MTN Group Ltd. shares fell after Nigeria suspended talks about a $3.9 billion fine on the South African mobile-phone company while the country’s House of Representatives completes an investigation into the nature of the penalty. The stock declined as much as 2.9 percent, the most since May 12, and traded 1.5 percent lower at 126.50 rand as of 10:23 a.m. in Johannesburg, valuing the company at 233 billion rand ($15 billion)….

International Investment Leaders to Gather in Bahrain to Assess the Road Ahead in the MENA Investment Industry

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The international asset and wealth management industry faces unparalleled change in the years ahead. A combination of macro factors and disruptive forces have set the stage for the transformation of the industry on a global and regional scale. 16th May 2016, Kingdom of Bahrain: The asset management industry stands on the verge of a number of significant changes that will re-shape the market for years to come. A recent report by KPMG titled “Investing in…

Investment | SN Power AS Invests in the Bujagali Hydropower, Uganda

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JOHANNESBURG – Allen & Overy LLP announced today that it has advised SN Power AS, the state-owned Norwegian company and one of the world’s leading international hydropower firms, on its acquisition of an interest in the Bujagali hydropower project (“Bujagali”) in Uganda from SG Bujagali Holdings, Ltd (“SGBH”). Bujagali is a 250 MW hydropower facility located near Jinja, Uganda. It has been financed and developed by Bujagali Energy Limited, an entity owned by affiliates of…

Investment | Private Equity | Actis invests in Mundiapolis University, Morocco

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LONDON, Capital Markets in Africa: Actis has invested in Mundiapolis University (Mundiapolis), a top ranking private university in Morocco, as a bolt-on acquisition to its investment in Emerging Markets Knowledge Holdings. Actis is investing in Mundiapolis to support an ambitious development plan that strengthens the university’s offering, accelerates its internationalisation, and strengthens its important contributions on the African continent. Across growth markets, education is at the centre of changing lifestyles, as employers pay premiums for…

Central Bank of Kenya to hold rates on Monday, cut next quarter

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JOHANNESBURG, South Africa, Capital Markets in Africa: Kenya’s central bank will wait a few more months before cutting its benchmark interest rate as inflation, while slowing, is still above target and so allows it room to wait, a Reuters poll found on Friday. Eight of 12 analysts polled this week said rates would be left on hold on Monday at 11.5 percent while two said they expect a 50 basis point cut. The other two…

South Africa Rand Rout Little Help as South African Companies Hoard Cash

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Johannesburg, South Africa, Capital Markets in Africa: South African businesses are flush with money. Too bad they aren’t willing to spend it at home. They’re hoarding cash or expanding abroad, put off by a stagnating economy, power shortages, low commodity prices and slower growth in export markets China and Europe. Delays in passing business regulations and a dispute between President Jacob Zuma and Finance Minister Pravin Gordhan are compounding their unease. “Corporate South Africa has continued to build international business…

Private Equity | Half of the Angola Sovereign Wealth Fund invest in Private Equity

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Luanda, Angola, Capital Markets in Africa: Angola’s sovereign wealth fund said it put more than half of its investments in private equity funds focused in the country and across sub-Saharan Africa last year, describing its performance as “solid,” particularly in light of the global economic turbulence. The fund, known as FSDEA, had assets worth $4.7 billion in 2015 after being endowed with $5 billion from the government in 2014, according to an investment update released on…

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