Features | - Part 239

Nigeria | Darkness Looms Over Nigeria as Delta Attacks Cut Power

LAGOS, Nigeria, Capital Markets in Africa: Unless President Muhammadu Buhari, 73, can subdue armed militants attacking gas facilities that supply the nation’s power plants, his plans to remedy an electricity shortage he called a “national shame” in his inauguration speech a year ago, will be stillborn. In March, Buhari said he would increase power generation by 2,000 megawatts this year and raise it by 2019 to 10,000 megawatts, double this year’s peak in early February. Then militants…

Opportunity | Nigeria Telecommunications Industry Grows Despite Economic Woes

Posted on by The Editorial Team

LAGOS, Nigeria, Capital Markets in Africa: Growth in Nigeria’s telecommunications industry picked up in the three months through March even as the economy shrunk for the first time in more than a decade, according to a government report. Telecommunications expanded 5 percent in the first quarter, compared with 3.5 percent in the three months through December, and contributed 8.8 percent to gross domestic product, the Nigerian Bureau of Statistics said in a report on Thursday. The economy contracted by 0.4…

Foreign Exchange | As Nigeria Dithers on Naira, Foreign Companies See Funds Trapped

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LAGOS, Nigeria, Capital Markets in Africa: As Nigeria’s policy makers dither on plans to loosen capital controls and let the naira weaken, foreign companies such as Nampak Ltd. of South Africa and British Airways Plc are battling to get their money out of the country. Nampak, Africa’s biggest producer of beverage cans, is considering currency swaps that would enable the Johannesburg-based company to repatriate money trapped due to the shortage of foreign exchange in Nigeria, its chief executive officer said….

Impressions from the World Economic Forum on Africa —- RMB Morgan Stanley

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The 26th World Economic Forum on Africa was held in Kigali, Rwanda last week: We attended the gathering and provide feedback on the conference and the investable themes coming out of it. Connecting Africa’s Resources through Digital Transformation: The theme of this year’s forum builds on that of the World Economic Forum held in Davos this January, by honing in on how Africa sees itself participating in the so-called Fourth Industrial Revolution. Rwanda, a continental…

Tech Innovation Will Catalyse Productivity and Growth in Africa Says PWC Report

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JOHANNESBURG, South Africa, Capital Markets in Africa: Agriculture is currently standing on the edge of a second green revolution. This revolution will entail fundamental shifts in how the agricultural sector utilises and implements innovative technology to improve output in a sustainable manner and address the need for greater food security globally. These are some of the highlights of PwC’s latest Africa Agribusinesses Insights Survey 2016. “Currently, there is a second green revolution underway. There is…

Strengthening the Regional Asset Management Industry — Abdul Rahman Al Baker

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Distinguished Guests, Ladies and Gentlemen –Good Morning. It is a great pleasure to be here today to address the Annual Middle East Asset Management Forum. I would like to commend the organizers for putting together a stimulating program, which will no doubt enrich the ongoing dialogue and debate on asset management industry in the Mena region. I hope that presentations and discussions during this forum would highlight and deliberate on important areas of assets management…

Nigerian “Budget of Change”…How much can it achieve? — Afrinvest

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LAGOS, Nigeria, Capital Markets in Africa: One year into the transition from President Jonathan to the Buhari led administration; the burden on Government remained the need to rejuvenate the Nigerian economy which has suffered from the declining global oil prices, poor governance structure, sub-optimal fiscal crisis, and monetary policy actions. Recent domestic macroeconomic numbers have suffered from both global and domestic shocks which currently threaten the economic fundamentals of the country. The recent data published…

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