Finance | - Part 107

Africa’s Largest Broadband-Network Provider Considers Share Sale

HARARE (Capital Markets in Africa) – Liquid Telecom reiterated that it’s considering an initial public offering as Africa’s largest broadband-network operator prepares for its next stage of growth following the $500 million acquisition of Neotel Pty Ltd. in 2016. The unit of Zimbabwean businessman Strive Masiyiwa’s Econet Wireless Global Ltd. owns about 40,000 kilometres (25,000 miles) of cross-border fiber networks in Africa and has ambitions to link up homes and businesses in some of the world’s…

South Africa Plans Return to Islamic Market to Plug Budget Gap

Posted on by The Editorial Team

JOHANNESBURG (Capital Markets in Africa )- South Africa’s debut sale of Islamic bonds had investors clamouring for four times the amount offered. The government is hoping for more of the same as it returns to the market to help plug a budget shortfall of more than $4 billion. Africa’s most-industrialized nation is considering a rand-denominated sukuk in the fiscal year starting April 1, after becoming the first African nation to issue a sovereign Shariah-compliant bond…

Distressed asset real estate investing – is now the time to be buying?

Posted on by The Editorial Team

NAIROBI (Capital Markets in Africa) – As discussed in our “where to invest in 2018” article, 2017 was a difficult year for the Kenyan real estate market. With some residential and commercial nodes facing an oversupply, depressed sales figures across the board, and the disappearance of the senior debt market, we have to assume that some real estate investors are hurting and in desperate need of Liquidity. As any equities trader will tell you, this…

Ghana President Pledges to Build on Economic Progress of 2017

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ACCRA (Capital Markets in Africa) – Ghana’s President Nana Akufo-Addo said efforts to stabilize the economy are beginning to yield results as the rate of debt-growth slowed while the government exceeded targets for keeping spending under control. The West African nation wants to avoid another bailout from the International Monetary Fund after the current credit facility ends this year, Akufo-Addo, 73, told lawmakers Thursday in the capital, Accra. Ghana’s budget deficit probably narrowed to 5.6 percent…

Citigroup Sees Best Year Yet for Investment Banking in Africa

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LAGOS (Capital Markets in Africa) – Citigroup Inc. is gearing up for a record year of deals from Africa in 2018. “We’re very excited about the prospects for this year across the Middle East and Africa and think this will be a very active year for us,” Miguel Azevedo, Citigroup’s head of investment banking for the region said in an interview in Abu Dhabi. “We have more deals in the pipeline than ever, mostly initial public…

Kenya Halves Share of Oil Income for Communities in New Law

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NAIROBI (Capital Markets in Africa) – Kenya halved the amount of revenue it will distribute to local communities once commercial oil production starts, setting up a potential dispute with residents of its economically deprived northern Turkana region. The Petroleum Exploration, Development and Production Bill to be presented to lawmakers next week proposes giving communities 5 percent of revenue, instead of the 10 percent stipulated in an earlier amended draft. County administrations will receive 20 percent…

Zimbabwe to Consider Waivers on Platinum, Diamonds Ownership Law

Posted on by The Editorial Team

HARARE (Capital Markets in Africa ) -Zimbabwe will consider applications from companies mining platinum or diamonds to be exempted from a requirement that they be at least 51 percent owned by black citizens of the country. The government wants companies to show they have a plan to achieve compliance before it will consider granting waivers, Mines Minister Winston Chitando said in an interview in Cape Town Wednesday. “Companies should come up with proposals which suit their different…

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