The Editorial Team |

Trade | U.S. Eyes Next Step in Africa Trade Relations, Froman Says

LAGOS, Nigeria, Capital Markets in Africa: The year after President Barack Obama extended African nations’ preferential access to U.S. markets by a decade, his administration is re-evaluating its trade relations with the world’s poorest continent. “It’s time to start looking at what comes next,” U.S. Trade Representative Michael Froman said in an interview in Kigali, Rwanda’s capital, where the World Economic Forum is holding its annual Africa summit. “Part of what motivates us is that we are hearing…

Investment | Renaissance Capital Moves Into Mozambique in Deal With Dominio

Posted on by The Editorial Team

Maputo, Mozambique, Capital Markets in Africa: Renaissance Capital Limited is pushing into Mozambique to take advantage of what it says is increasing interest from foreign investors in the southern African country. The Moscow-based investment bank, which trades across 43 emerging and frontier markets, signed a partnership deal last week with Lisbon-based Dominio Capital Group, which has an office in Maputo, Mozambique’s capital. The agreement will make it easier for RenCap to work on deals for clients wanting…

South Africa’s Economic Outlook Disappoints S&P as It Weighs Rating

Posted on by The Editorial Team

Johannesburg, South Africa, Capital Markets in Africa: Economic growth in South Africa “has continued to disappoint,” S&P Global Ratings said, three weeks before the company is due to complete a review that may see the country cut to junk. S&P may lower the nation’s credit rating to non-investment grade when it announces the result of an assessment of South Africa’s BBB- ranking on June 3. Discussions on the decision are still underway, S&P Managing Director for sub-Saharan Africa Konrad…

Private Equity | Barclays Africa Said to Attract Abraaj-Led Group for Stake

Posted on by The Editorial Team

LAGOS, Nigeria, Capital Markets in Africa: Buyout firm Abraaj Group is leading a group of investors planning to bid for a minority stake in Barclays Plc’s African unit, according to people familiar with the matter. Abraaj is working with financial advisers and is in discussions to team up with other investors including a Middle Eastern sovereign wealth fund, the people said, asking not to be identified as the information is private. The private equity firm may bid for as…

FBN Says Director Questioned as Nigeria Probes Bank Transactions

Posted on by The Editorial Team

LAGOS, Nigeria, Capital Markets in Africa: FBN Holdings Plc, Nigeria’s biggest lender by assets, said one of its directors was invited and questioned by the Economic and Financial Crimes Commission as part of a wider probe into alleged illegal transactions by the country’s banks. Executive Director Dauda Lawal was questioned about sums allegedly distributed by a former minister of petroleum, and is cooperating fully with the agency, the Lagos-based lender said in a statement Friday on the Nigerian…

Financing | Mozambique’s Nyusi to Visit China Next Week, Presidency Says

Posted on by The Editorial Team

Maputo, Mozambique, Capital Markets in Africa: Mozambican President Filipe Nyusi will visit China later this month, his office said, weeks after western donors withdrew budgetary support following the southern African nation’s admission to holding more than $1 billion of undeclared loans. Nyusi’s week-long visit, which received parliament’s go-ahead last week, begins May 16, an official at the presidency said Friday. “The authorization should not be a blank check to contract more debt,” Lutero Simango, the leader of…

Business | Africa Has More Large Businesses Than You Expect, McKinsey Says

Posted on by The Editorial Team

LAGOS, Nigeria, Capital Markets in Africa: McKinsey & Co. Inc. has identified 700 African companies with annual sales of more than $500 million, many of which are growing and reinvesting and are a reason for optimism about economic prospects on the continent, the consultancy’s global managing director said. “That’s a lot more than most people would think,” Dominic Barton said Friday in an interview at the World Economic Forum on Africa in Rwanda’s capital, Kigali. “Two-thirds of them…

« 1 … 907 908 909 910 911 … 1,075 »