North Africa |

Investec Asset Management invests in SJL Group

RABAT (Capital Markets in Africa) – Investec Asset Management (IAM), through its Africa Private Equity capability, has completed the management buy-out of 100% of SJL Group. SJL is the market-leading transport and logistics operator providing fully integrated cross-border services on the Morocco-EU corridor, as well as in Tunisia and domestically in Morocco. Together with its co-investors, DEG – Deutsche Investitions- und Entwicklungsgesellschaft mbH and Avanz Capital, IAM is backing an experienced senior management team, led…

Mediterrania Capital Partners and AfricInvest exit Grupo San Jose & Lopez (SJL)

Posted on by The Editorial Team

RABAT (Capital Markets in Africa) – Mediterrania Capital Partners, a regional private equity firm focused on growth investments for SMEs in North Africa and Sub-Saharan countries, and AfricInvest, a leading pan-African SME-focused private equity firm with more than $1bn under management, are together pleased to announce the sale of Grupo San Jose & Lopez (SJL), a logistics and international road freight transport company with operations in the Maghreb and Europe. Under the ownership of Mediterrania…

Fitch Affirms Morocco at ‘BBB-‘; Outlook Stable

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RABAT (Capital Markets in Africa) – Fitch Ratings-Hong Kong-07 April 2017: Fitch Ratings has affirmed Morocco’s Long-Term Foreign- and Local-Currency Issuer Default Ratings (IDRs) at ‘BBB-‘ with a Stable Outlook. The issue ratings on Morocco’s senior unsecured foreign and local currency bonds have also been affirmed at ‘BBB-‘. The Country Ceiling has been affirmed at ‘BBB’ and the Short-Term Foreign- and Local-Currency IDRs at ‘F3’. KEY RATING DRIVERS Morocco’s ratings are driven by its economic…

Actis exits Edita Food Industries After Four Years

Posted on by The Editorial Team

CAIRO (Capital Markets in Africa) – Actis, a leading growth markets investor, has announced the sale of its remaining 7.5% stake in Edita Food Industries (Edita) to 42 blue-chip international investors from the USA, UK, Germany, South Africa, and the UAE through an accelerated book build on the Egyptian Stock Exchange. Actis originally became a 30% shareholder in 2013, and with this final sale of 7.5% has now fully exited. Edita was founded in 1996…

Moody’s: Egypt’s IMF program to support fiscal and external position, reform pace may slip

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CAIRO (Capital Markets in Africa) – While Egypt’s IMF program will support gradual improvements to the country’s fiscal and external position, its social and economic costs risk slowing the pace of fiscal reform momentum, Moody’s Investors Service said in a report today. The report, “Government of Egypt – IMF Program Supports Gradual Fiscal, External Improvements”, is now available on www.moodys.com. Moody’s subscribers can access this report via the link at the end of this press…

Egypt targeting $9 bln in foreign financing in FY 2017-18

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CAIRO (Capital Markets in Africa) – Egypt is targeting $9 billion in foreign financing in the 2017-18 fiscal year, Deputy Finance Minister Ahmed Kouchouk told Reuters on Wednesday. The financing will be divided between $3 billion obtained from debt markets and $5 billion to $6 billion from international finance institutions, he said. Egypt agreed with the International Monetary Fund in November on a $12 billion, three-year loan programme to support government efforts to reduce its…

Morocco’s central bank keeps interest rate at 2.25%

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RABAT (Capital Markets in Africa) – Morocco’s central bank maintained its key monetary policy rate at 2.25 percent and raised its forecast for inflation and growth slightly this year due to improved domestic demand and a rise in imported inflation. The Bank Al-Maghrib (BAM), which cut its rate by 25 basis points a year ago in response to declining inflation, added monetary conditions tightened slightly last year due to an appreciation of the real effective…

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