The Editorial Team |

Investment | Eni to invest EUR 20 bilion in Africa over next four years, CEO says

Lagos, Nigeria, Capital Markets in Africa — Italy’s Eni plans to invest about 20 billion euros ($22.5 billion) in Africa over the next fours, mostly in oil and gas, the company’s Chief Executive Officer Claudio Descalzi said on Friday. “That represents about 60 percent of our investments” (over that period) he said in a presentation at the International Energy Agency in Paris. Descalzi said Eni, which is involved in projects in 15 African countries, will…

Algeria launches local bond issue to offset energy earnings drop

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Algiers, Algeria, Capital Markets in Africa — Algeria’s first local bond issue in years was opened on Sunday with the government hoping to secure new financing sources after a sharp drop in world oil prices has cut energy earnings that make up 60 percent of its budget. Algeria’s government has already started to cut back some state-subsidised energy services, reduced its 2015 and 2016 public spending and frozen some infrastructure projects. The bond issue, with…

Infrastructure | The future of Africa lies inside Africa, AfDB President Says

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Addis Ababa, Capital Markets in Africa: “If we don’t fix Africa’s infrastructure financing gap – which we put at some US $60-70 billion a year – we will continue to take two percentage points off Africa’s annual growth rates. And we cannot allow that to happen,” said African Development Bank President Akinwumi Adesina at the first ever Global Infrastructure Forum in Washington on Saturday. Sharing a panel with the heads of nine other Multilateral Development Banks and…

Zambia’s World-Beating Kwacha Shows Copper Can Outshine Gold

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LUSAKA, Zambia, Capital Markets in Africa — Zambia’s kwacha has gone from the world’s third-worst performance in 2015 to the best this year, outshining gold, silver and 150 other other currencies and precious metals tracked by Bloomberg. Further gains are in store as copper prices recover, according to ETM Analytics. The currency of Africa’s second-biggest copper producer has advanced 19.9 percent against the dollar in 2016, surpassing gold’s 16.3 percent gain, after slumping 42 percent in 2015….

Ghana’s Inflation Rate touches over-six-year high at 19.2% in March

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Accra, Ghana, Capital Markets in Africa — The outlook for achieving the Bank of Ghana’s medium term inflation target (8% ± 2%) could shift further into late 2017 (from the projected mid-2017) as inflationary pressures remain elevated on the back of high cost-push factors. The year-on-year increase in Ghana’s Consumer Price Index (CPI) shocked expectations with a 70bps surge to 19.2% in Mar-2016. Consequently, average y/y price inflation in Q1-2016 (18.9%) turned out 130bps higher…

Africa’s Economic Growth Slashes AMIDST Global Economic Weakness

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LAGOS, Nigeria, Capital Markets in Africa — Amid falling commodity prices and continuing weakness in global growth, Sub-Saharan Africa’s gross domestic product (GDP) growth decelerated to an estimated 3.0% in 2015 from 4.5% in 2014, according to the latest World Bank projections. This low pace of growth, which translates into an increase in the region’s GDP per capita of less than 0.5%, was last seen in 2009 following the global financial crisis, and contrasts sharply…

Private Equity | Mediterrania Capital Partners enters the retail clothing business in the Maghreb region

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Tunis, Tunisia, Capital Markets in Africa: Mediterrania Capital Partners, the regional Private Equity firm focusing on growth investments for companies in North African and Sub-Saharan countries, announces the acquisition through its second fund (“MC II”) and alongside Euromena III (the latest of the Euromena Funds), of a minority stake in BS Invest in Tunisia, CAP Retail in Morocco, and Investex Algérie in Algeria (the “Group”).Founded in 1997 by Koraich Ben Salem, the Group distributes 11 leading…

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