Editorial

LAGOS (Capital Markets in Africa) – In its third year, the Africa’s Business Heroes (ABH) prize competition gives African entrepreneurs a unique platform to showcase their talent and grow their businesses; ABH, which is the Jack Ma Foundation’s flagship philanthropic program in Africa, annually awards 10 outstanding finalists with a share of a US$1.5 million grant; Applications are now open in English and French for “heroes” across all sectors and African countries, with special emphasis…

LAGOS (Capital Markets in Africa) – Value stocks trade at prices below their fundamental value. If prices of stocks converge towards their fundamental values then it is natural to expect value stocks to outperform their more expensive peers, at least on average. This outperformance is known as the value premium. Value stocks have severely underperformed in recent years, leading many investors to question the relevance of value investing or even to contemplate its demise. However,…

LONDON (Capital Markets in Africa) – The new year has awoken the bond market from its slumber. What began as a gradual climb in nominal yields from the summer accelerated in February with the yield on the US 10-year Treasury note briefly topping 1.6%, and significant moves higher globally including in Australia and the UK. Moves of this speed are rare, so Janus Henderson dedicated an ISG meeting to ask why global yield curves have…