Features

JOHANNEBURG (Capital Markets in Africa) – Sanlam Ltd. will issue new shares to black shareholders through its black empowerment partner as it seeks to win more business from state-owned companies in South Africa. The Cape Town-based insurer will issue 11.35 million shares, or 5 percent of its ordinary share capital, and grant a 2 billion rand ($136.6 million) facility to Ubuntu-Botho Investments or its subsidiaries to help it invest in some Sanlam units. Ubuntu-Botho is a…

SOUTH SUDAN (Capital Markets in Africa) – South Sudanese President Salva Kiir apologized to his people for a half-decade of civil war as the African nation’s main rebel leader echoed his commitment to a new peace deal. Insurgent chief Riek Machar temporarily returned to the capital on Wednesday to take part in peace celebrations — his first visit to Juba since being forced to flee more than two years ago. It comes as cease-fire violations and delays cast doubt…

LAGOS (Capital Markets in Africa) – Turkey’s first deep-sea drilling ship, flanked by Turkish war vessels, set sail Tuesday looking for natural gas and oil in contested waters of the Mediterranean, a launch liable to exacerbate longstanding tensions with Greece. The Fatih, named after the conqueror of Constantinople, or modern-day Istanbul, will operate some 60 nautical miles off the Turkish coast in or around the disputed area. The Eastern Mediterranean has become a gas hot…

Driving New Growth Momentum in Africa, the Islamic finance industry in Africa is fast gaining the attention of key stakeholders including central banks & regulatory authorities, as well as the leading international Islamic financial institutions and investors seeking to tap into high-growth opportunities on the continent October 2018, DJIBOUTI: The footprint of Islamic banking in Africa is set to expand further as the continent seeks to deliver on the economic and strategic opportunities provided by…

JOHANNESBURG (Capital Markets in Africa) – When President Trump tweeted in August that South Africa was engaged in “the large scale killing” of white farmers to seize their land, the nation’s president, Cyril Ramaphosa, didn’t respond personally. A fabricated accusation from the leader of the free world was the least of his problems. Ramaphosa probably felt his time was better spent doing his job. These days that includes confronting his top deputies, his fractured party, the powerful labor…