The Editorial Team |

IMF Says Sub-Saharan Africa Nations Must Contain Budget Gaps

LAGOS, Nigeria, Capital Markets in Africa — Sub-Saharan African nations need to contain their fiscal deficits to avoid becoming more vulnerable to external events, the International Monetary Fund said. “If deficits are not curbed, these countries will be left without buffers and, worse still, remain vulnerable to a financing crisis should external financing conditions get even more difficult,” the Washington-based lender said in its Regional Economic Outlook on Tuesday. African countries from Ghana to Mozambique have approached the…

Private Equity | Abraaj Said to Seek Up to $300 Million Value in Egypt Health IPO

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LAGOS, Nigeria, Capital Markets in Africa — Buyout firm Abraaj Group is seeking a valuation of as much as $300 million for a group of hospitals it plans to list on the Egyptian stock exchange, according to two people familiar with the matter. An initial public offering for Cleopatra Hospital Co., which includes four private hospitals in the North African country, may take place as soon as this month, the people said, asking not to be identified…

Private Equity | Private Equity Firms Bid Up Africa M&A Prices on Record Funds

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LAGOS, Nigeria, Capital Markets in Africa — The prices private equity firms pay for stakes in African companies are the highest in six years, driven by record fundraising and competition for the continent’s expanding middle class. The median price for buyouts in 2015 increased to more than seven times the ratio of a company’s value to its earnings before interest, depreciation, tax and amortization, compared with 5.4 times in 2012, Cape Town-based RisCura Solutions (Pty) Ltd. said…

South Africa Reserve Bank Sees Medium to High Risk of Credit-Rating Cut to Junk

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Johannesburg, South Africa, Capital Markets in Africa — There is a medium to high probability that South Africa’s debt will be downgraded to non-investment status, according to the country’s central bank. A cut may lead to capital outflows, affect the government’s rand-denominated debt, increase the cost of funding and reduce credit to the private sector, the Pretoria-based South African Reserve Bank said in its Financial Stability Review on Tuesday. Spreads on credit-default swaps would also widen, corporate profits…

Private Equity | Global Investors Shows Strong Interest in Africa’s Real Economy

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Cape Town, South Africa, Capital Markets in Africa -–– Despite the recent turmoil in which many African countries find themselves, global investors showed strong interest in investing in Africa’s real economy, as evidenced by the increase in private equity fund raising in 2015. Total value of Africa PE funding, by year of final close*, was US$ 4.3billion. This is according to Bright Africa, the ongoing research endeavour from Africa investment specialists, RisCura. Click here to download…

Corruption in North Africa: Nearly 1 in 3 paid a bribe …

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LAGOS, Nigeria, Capital Markets in Africa — Nearly one in three citizens who tried to access basic public services in the Middle East and North Africa paid a bribe, a Transparency International report said today, showing that governments across the region have failed to hear their citizens’ voices against corruption. According to a public opinion survey by the international anti-corruption group of nearly 11,000 adults in 9 countries and territories, the majority of people (61…

Nigeria | More details emerge on Nigeria’s fiscal plans — BoAML

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LAGOS, Nigeria, Capital Markets in Africa — Nigeria’s Senators have urged Buhari to sign the budget into law after he requested it be sent to him to check for any unapproved adjustments. The local press has reported that this should happen within weeks but the whole budgeting process has been fraught with delays since it was first started in December 2015. The current delays relate to the allocation of the US$30bn headline expenditure, but the…

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