The Editorial Team |

IFC Issues First Namibian Bond to Support Local Capital Market

Windhoek, Namibia, Capital Markets in Africa — International Finance Corporation (IFC), a member of the World Bank Group, has launched the first bond by a non-resident issuer in the Namibian capital markets, raising 180 million Namibia dollars—equivalent to $12 million—for private sector development in the country. The five year bond is named “Namib” after the world’s oldest desert. Namib means “vast space” in the Nama language and gave rise to the name of the country….

Private Equity | AfricInvest invests in Outsourcia

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Casablanca, Morocco, Capital Markets in Africa — AfricInvest, a leading pan-African mid-cap-focused private equity firm, is pleased to announce that its Maghreb Private Equity Fund III has invested in Outsourcia Group (“Outsourcia”), a Moroccan leading contact centre and business process outsourcing (BPO) provider. Through its investment, AfricInvest aims to support Outsourcia in bringing its corporate development initiative, “Acquire and Migrate,” to other regions of Africa, while at the same time reinforcing the strong growth that the…

Angola’s central bank Raises Basic Interest Rate by 2% in March

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Luanda, Angola, Capital Markets in Africa — National Bank of Angola (BNA, Banco Nacional de Angola) Monetary Policy Committee (CPM) held a meeting on 28 March 2016, decided to increase the Basic Interest Rate to by 200 basis points to 14.oo percent, to manage inflation rate and strength the currency, BNA said in a statement on its website on Tuesday. In addition, the central bank raised the standing lending facility rate to 16 percent from 14…

Energy and Environment Partnership Southern and East Africa announces opening of its 12th and 13th Call for Proposal

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JOHANNESBURG, South Africa, Capital Markets in Africa — As a challenge fund, the Energy and Environment Partnership Programme with Southern and East Africa (EEP S&EA) is seeking high-quality applications for projects in the two regions that can contribute to the reduction of poverty by promoting inclusive and job-creating green economy and by improving energy security while mitigating global climate change. EEP is jointly funded by the Ministry for Foreign Affairs of Finland (lead donor), the UK…

Nigeria | Investors show confidence in Nigerian shares

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LAGOS, Nigeria, Capital Markets in Africa — Total transactions at the Nigerian Stock Exchange (NSE) rose from N84.10 billion recorded in January 2016 to N117.27 billion (about $0.60 billion) in February 2016 (about 39.44% increase), according to data released by NSE. However, comparing to the same period in 2015, total transactions decreased by 36.44% from the N184.49 recorded in February 2015. The data also highlighted that domestic investors significantly outperformed foreign investors by 27.04%. Domestic…

Zambia | Plenty to do after elections says Bank of America Merrill Lynch

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Lusaka, Zambia, Capital Markets in Africa — Our caution on Zambia, and hence our Underweight recommendation, was based on downside to copper prices and the government’s unwillingness to engage in an IMF program. Following our meetings with policymakers in Lusaka, we are now more confident that an IMF program will be taken, although our base case of a post-election program remains unchanged. We expect a program to start soon after the elections, regardless of who…

Cameroon | Boost from the AfDB through €500m guarantee

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Yaounde, Cameroon, Capital Markets in Africa — Much of the discussion in Yaounde concerned the €500mn partial credit guarantee given to Cameroon by the AfDB. This agreement covers the government’s payment obligations in a cross-currency swap they had entered with commercial banks to ensure dollar availability to service the obligations of its US$750m Eurobond issued in November 2015. From the AfDB press release, the guarantee appears to have been approved solely to limit exchange rate…

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