The Editorial Team |

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

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…

Nigeria | Ecobank Transnational Incorporated FY:2015 & Q1:2016 Earnings Update

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LAGOS, Nigeria, Capital Markets in Africa — Ecobank Transnational Incorporated (“ETI” or “the Bank” or “the Group”) published its FY: 2015 and Q1:2016 numbers recently after issuing an initial profit warning. The FY: 2015 result reflected the Bank’s recent operational challenges as it booked a monumental impairment charge in loans and advances which surged to N105.2bn (136.9% higher than N44.4bn in FY: 2014). This pattern was also witnessed in the Bank’s Q1:2016 result; thus significantly…

Nigeria | FBN Holdings FY 2015 and Q1 2016 Earnings Update

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LAGOS, Nigeria, Capital Markets in Africa — FBN Holdings Plc. (“FBNH” or “The Group”) published its much awaited audited FY:2015 and Q1:2016 results on 26th March 2016 on the floor of the Nigerian Stock Exchange (NSE) with Gross Earnings and Profit After Tax coming much lower than anticipated. Skewness to Oil & Gas loans impacted on profitability as a monumental N119.3bn was booked in impairment charges for its FY:2015 dragging profitability by 82.0%. We present the…

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