The Editorial Team |

Investment | The Carlyle Group invests in Mazarine Energy

London, Capital Markets in Africa: The Carlyle Group announced an investment in Mazarine Energy B.V., an upstream oil and gas company with existing assets in Tunisia. Carlyle will also grant Mazarine Energy access to an equity line of up to $500 million to fund future bolt-on acquisitions, focusing on low risk, near-term, conventional exploration, development and production opportunities in Europe, Africa and the broader Mediterranean region. Capital for this investment and for the equity line…

SWIFT’s messaging traffic grows by 12.5 percent in Africa

Posted on by The Editorial Team

Mauritius, 17 May 2016 – Data from SWIFT shows that Africa’s traffic growth has outperformed the total growth of SWIFT globally. In the year to date, total message traffic volumes grew by 12.8% versus 5.4% growth for SWIFT worldwide, illustrating that Africa plays an increasingly important role in SWIFT’s global business. Levels of growth were also significantly higher than in EMEA at 3.2% and the Americas at 6.7%, and closely behind Asia Pacific at 15%….

Kenya Cuts Rates for First Time Since 2013 on Slow Inflation in May

Posted on by The Editorial Team

NAIROBI, Kenya, Capital Markets in Africa: Kenya’s central bank cut its key rate by 100 basis points to 10.5 percent, the first reduction in three years, as the rate of inflation decelerates to within the government’s target corridor. Only two of nine economists and analysts polled by Bloomberg expected the decision. Central bank Governor Patrick Njoroge said in an interview in Kigali, Rwanda, earlier this month falling consumer prices, which are now within the government’s 2.5 percent…

Naira Forwards Jump by Record as Traders See Nigeria Devaluation

Posted on by The Editorial Team

LAGOS, Nigeria, Capital Markets in Africa: Naira forwards surged by the most on record as traders bet that the ability of Nigerian authorities to maintain their almost 15-month-long currency peg is waning. Three-month naira non-deliverable forwards rose by 14 percent, the most on a closing basis since the contracts began trading in March 2011, to a record 267 against the dollar at 4:06 p.m. in London. One-month forwards jumped 11 percent to 238, bringing their implied yield —…

Goldman Surprised by Sudden Oil-Market Turn as Glut Vanishes

Posted on by The Editorial Team

LAGOS, Nigeria, Capital Markets in Africa: The global oil market has flipped to a deficit sooner than Goldman Sachs Group Inc. had expected. A decline in production driven by unexpected supply disruptions, as well as sustained demand, have resulted in a “sudden halt” to the output surplus, Goldman analysts Damien Courvalin and Jeffrey Currie wrote in a report dated May 15. Other banks such as Morgan Stanley, Barclays Plc and Bank of America Corp. also noted that supply losses are leading markets to…

Nigeria Inflation Quickens to Fastest Pace in Almost 6 Years

Posted on by The Editorial Team

LAGOS, Nigeria, Capital Markets in Africa: Nigerian inflation accelerated for a sixth consecutive month in April and at the highest pace since August 2010, after an increase in gasoline and electricity prices in Africa’s largest economy. The inflation rate rose to 13.7 percent from 12.8 percent the month before, the Abuja-based National Bureau of Statistics said in an e-mailed statement, the same median estimate of 14 economists surveyed by Bloomberg. Prices rose 1.6 percent in the month. Rising fuel and electricity…

Oil Climbs to Highest Since November as European Shares Retreat

Posted on by The Editorial Team

LAGOS, Nigeria, Capital Markets in Africa: Brent crude rose to a six-month high, leading a rebound in commodities and boosting the ruble and mining companies, as supply disruptions in Nigeria added to production woes. Oil extended last week’s gains as Goldman Sachs Group Inc. increased its price forecast, saying the market had moved into a supply deficit earlier than expected. Precious metals rallied with aluminium and commodity producers climbed, while almost all of the other industry groups in the Stoxx Europe 600…

« 1 … 907 908 909 910 911 … 1,077 »