The Editorial Team |

South Africa | Partnerships Can Avert South Africa Junk Rating, Radebe Says

Johannesburg, South Africa, Capital Markets in Africa — South Africa’s government is confident that its partnerships with business and labor can help it avert a credit-rating downgrade to junk, according to Jeff Radebe, Minister for Planning, Performance, Monitoring & Evaluation in the Presidency. “We are not envisaging a downgrade because we have put in measures as a government working with our partners in the private sector and labor to ensure that we stay the course,” Rabede told…

Morocco’s Macroeconomic Prospects unfavourable but positive momentum

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Casablanca, Morocco, Capital Markets in Africa: Prospects for the Morocco economy in 2016 are mixed with very weak economic growth on the one hand and, on the other, an on-going contraction in the twin deficits, which will help restore the long-term health of the country’s public finances and balance of payments. As far as the growth outlook is concerned, expectations of weak GDP growth in 2016 should once again highlight the economy’s sensitivity to the…

Infrastructure | South Africa Secures $16.5 Million for National Internet Rollout

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Johannesburg, South Africa, Capital Markets in Africa — South Africa has set aside 250 million rand ($16.5 million) to start the first phase of broadband roll-out across Africa’s most industrialized economy and will approach the private sector, banks and development institutions about additional funding, the telecommunications minister said. Construction will start in three months following various delays, Siyabonga Cwele said in a phone interview on Monday. The total cost of the project could rise to as much as…

Unleashing African Equities — Fund Manager Perspective

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LAGOS, Nigeria, Capital Markets in Africa: Confident in the positive prospects embedded into Africa’s long term development, our team has been working on the best way to access the latter for almost a decade. In this purpose, one should be aware that intrinsic risks related to the region’s political and economic situation make the definition of an investment strategy relatively complex, especially when taking into account the features of the continent’s capital markets such as…

South Africa | Moody’s places South Africa’s Baa2 ratings on review for downgrade

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Johannesburg, South Africa, Capital Markets in Africa — New York, Moody’s Investors Service has today placed the Baa2 bond and issuer ratings of the government of South Africa on review for downgrade. Also placed on review for downgrade were South Africa’s (P)Baa2/(P)P-2 shelf and MTN program ratings. The decision to place the ratings on review was prompted by the continuing rise in risks to the country’s medium-term economic prospects and to its fiscal strength, notwithstanding…

Investing in Africa’s Equity: Balancing Risk, Return and Regret

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LAGOS, Nigeria, Capital Markets in Africa: Broad-based performance of African equities in 2015 was something many investors like to forget, if they do not regret their investment decision in the first place. Investors following the herd and buying into the asset class for the first time in the heydays of 2013 can be regularly found in the latter category. Others, who remained on the sidelines so far, can now buy great African businesses at much…

Nigeria | Data Releases Show Economy on a Sticky Wicket … Outlook Conservative

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LAGOS, Nigeria, Capital Markets in Africa — This week’s data releases by the CBN and NBS – April 2016 Purchasing Manager’s Index (PMI) and Q1:2016 Quarterly Capital Importation data – revealed very disappointing numbers. Besides the fact that the weak numbers reflected poorly on business activities and investment confidence, they further reinforced the market perception that weakening domestic fundamentals is yet abating. The PMI data, a monthly survey carried out by the CBN to examine…

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