Southern Africa |

DEG invests ZAR100m in Southern African fashion retailer

JOHANNESBURG (Capital Markets in Africa)- DEG is providing ZAR 100 million to Southern African retail chain, Retailability (Pty) Limited which targets customers in the low to middle income bracket. Retailability is deploying the additional capital to expand its operations – as it has recently acquired the fashion retailer LEGIT that also operates in Southern Africa. The investment was facilitated and led by the African Private Equity firm Metier through its Metier Capital Growth Fund II…

Botswana Equity Markets: Where do Opportunities Lie

Posted on by The Editorial Team

GABORONE (Capital Markets in Africa) – The year 2017 is going to be a mixed bag on the Botswana Stock Exchange. The banking sector is likely to grow at a smaller pace mainly due to the tight economic situation mirrored by the low-interest rate environment (Bank rate 5.5%). Impairments are also likely to rise mainly led by the closure of some mines in the country. Already Stanchart and FNBB have issued cautionary statements as they expect an increase in impairments mainly due to…

Mauritius’ Investment Prospects in New Dawn

Posted on by The Editorial Team

PORT LOUIS (Capital Markets in Africa) – The start of 2017 was marked by the resignation of Sir Anerood Jugnauth as Prime Minister (PM) who was replaced by Mr. Pravind Jugnauth. This ended months of speculation and resulted in a reconstituted cabinet. The new PM who kept the “Finance” portfolio, delivered an address which emphasized continuity on the most recent National Budget. Markets prefer certainty – a state of affairs – which this re-shuffled cabinet is…

Preview of South Africa’s Budget Speech 2017

Posted on by The Editorial Team

JOHANNESBURG (Capital Markets in Africa) – The upcoming Budget will be a critical one given there is no more room for the upward revision of deficit targets as seen over the last few years. As a result of the current slow growth environment, the tax increases and expenditure cuts set in October’s Medium-term Budget have to be adhered to if Treasury is to deliver a positive Budget. This is according to Senior Economist, Johann Els,…

Investing in African equity markets today: Zimbabwe as a case study for sub-Saharan Africa

Posted on by The Editorial Team

HARARE (Capital Markets in Africa) – A decade after its first disastrous flirtation with hyperinflation, Zimbabwe is once again on the economic precipice with the effects being conspicuously similar. Supermarket shelves have started to empty, some public and even private sector salaries remain unpaid, banking hall queues are getting longer and hospitals are short of basic supplies. Whilst the humanitarian state of affairs is critical we find the microeconomic structures persistently durable given that businesses continue…

Solar Capital Partner with Power Africa

Posted on by The Editorial Team

JOHANNESBURG (Capital Markets in Africa) – In a bid to light up Africa, Solar Capital has partnered with a US government-led initiative, Power Africa. The US government launched Power Africa in 2013 to double access to electricity in sub-Saharan Africa by 2030. This vision is being achieved by bringing over 140 public and private sector partners together to help advance power sector deals. Power Africa aims to deliver 30000MW of electricity and to add 60…

Mozambique Bondholders Lay Down Terms Ahead of Restructuring

Posted on by The Editorial Team

MAPUTO (Capital Markets in Africa) – A group of key Mozambique bondholders laid down terms to the embattled government ahead of restructuring talks, calling on it to revoke guarantees on loans taken on by two state-owned companies. The southeast African nation, which defaulted on its only Eurobond in January, should also liquidate the two firms — ProIndicus and Mozambique Asset Management — as well as a third, a tuna-fishing company known as Ematum, the so-called Global…

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