Features | - Part 234

Nigerian President Buhari Plans Seen as Inadequate to Deal With Nigeria’s Slump

LAGOS, Nigeria, Capital Markets in Africa: Nigeria’s economy could contract this year and President Muhammadu Buhari’s government is seen as having few plans in place to turn the slump around, according to analysts including Renaissance Capital Limited’s Yvonne Mhango. Last month, the Central Bank of Nigeria allowed the naira to devalue after a 15-month currency peg curbed investment and contributed to a 0.4 percent contraction in the economy in the three months through March. With inflation at a…

Rwanda launches RNIT Iterambere Fund to boost savings through capital market

Posted on by The Editorial Team

RWANDA, Capital Markets in Africa: Rwanda National Investment Trust Ltd (RNIT), a company fully owned by the Government of Rwanda launched on Tuesday RNIT Iterambere Fund – an open end balanced fund to facilitate Rwandans to have a planned approach to investments and wealth creation. The RNIT Iterambere Fund is an initiative of the Government of Rwanda that aims at promoting the culture of saving by designing products that suit the various investment needs…

Embracing Local Capital Markets: An Alternative Approach to Hedging Currency Risk in Africa

Posted on by The Editorial Team

LAGOS, Nigeria, Capital Markets in Africa: With the appearance of stalwarts of the global private equity industry in Africa such as Carlyle, the Abraaj Group and Temasek, the outlook for private equity flows into the continent should be promising. The reality for these fund managers, is that the majority of growth being created is in local currency and as such their returns are impacted by volatility in exchange rates between local currency and the US…

EGYPT: The Gateway for International Private Equity Investment into Africa

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LAGOS, Nigeria, Capital Markets in Africa: Located at the North Eastern gate of Africa, Egypt is considered the gateway to African markets in terms of both investments flows, and target exports destinations. Together with the 90 million plus citizens, its professionally sophisticated financial sector adds to its comparative advantage as an appealing destination for investment flows, mandated towards both the local market and the neighbouring African countries, known for their huge investment potential. In spite…

Mozambique Cuts 2016 Growth Forecast, Raises Inflation Outlook

Posted on by The Editorial Team

Mozambique, Capital Markets in Africa: Mozambique revised its 2016 budget, cutting its growth forecasts as some donors suspended aid after the government admitted to hiding more than $1.4 billion in debt. The country’s cut its gross domestic product growth forecast to 4.5 percent from 7 percent earlier, Finance Minister Adriano Maleiane said in the capital, Maputo, Thursday, following an extraordinary cabinet meeting to approve the State Budget Review. State revenue is projected to decline to…

Private Equity in Africa: A Force for Good

Posted on by The Editorial Team

“What improves the circumstances of the greater part can never be regarded as an inconvenience to the whole. No society can surely be flourishing and happy, of which the far greater part of the members are poor and miserable.”- Adam Smith, The Wealth of Nations Although Adam Smith, often referred to as the father of modern capitalism, may have not have been a proponent of businesses pursuing charitable activities, he clearly believed in a society…

Fitch: Angola’s Move to End IMF Talks Increases External Risks

Posted on by The Editorial Team

ANGOLA, Capital Markets in Africa: The Angolan government’s decision to discontinue talks with the IMF on a potential loan increases risks to the sovereign’s external financing position if no other sources of external funding are available, Fitch Ratings says. We identified deteriorating external dynamics as a rating sensitivity when we revised the Outlook on Angola’s ‘B+’ sovereign rating to Negative from Stable in March. The IMF said last week that Angola wanted to halt talks…

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