The Markets | - Part 106

Naspers Focuses on Classifieds After $1.1 Billion Avito Deal

JOHANNESBURG (Capital Markets in Africa) – Naspers Ltd. will focus on streamlining technologies and harnessing artificial intelligence across its e-commerce and classifieds businesses after taking full control of Russia’s Avito BB in a $1.1 billion deal. Africa’s biggest company by market value on Friday bought out minority shareholders in Avito through its OLX Group, increasing exposure to Russia’s e-commerce market and strengthening its global reach in the sector. Naspers plans to consolidate different local online technologies into a…

Goldman Cheers as Rand Heads for Best-Ever Start to a Year

Posted on by The Editorial Team

LAGOS (Capital Markets in Africa) – The rand’s flying start to 2019 may be just the beginning, according to Goldman Sachs Group Inc. The South African currency is heading for its biggest January gain against the dollar since Bloomberg started compiling the data in 1999. And with expected volatility near an eight-month low, traders are discounting local stumbling blocks in coming months, including a budget speech, ratings review and election. The rand has been buoyed by a more dovish Federal Reserve…

Kenya leads in Cryptocurrency predictions for 2019 in the East Africa Region

Posted on by The Editorial Team

— As we start 2019, it is an opportune time to reflect on the year that was and forge the way forward. The cryptoeconomy celebrated its 10th birthday in 2018, reaching a total market capitalization of approximately $138.6 billion (KSh 14.2 trillion). In spite of a fluctuating market, a leading global peer-to-peer Bitcoin marketplace, Paxful (www.Paxful.com), saw an upswing in activity, driven by African consumers in which servicing the underbanked resulted in significant gains. Africa conducted 6.5 million trades…

BCS Americas announces global equity trading platform

Posted on by The Editorial Team

LAGOS (Capital Markets in Africa) – BCS Americas (BCSA) a division of BCS Global Markets (BCS GM) has announced the launch of a new trading platform that will provide global equity execution and settlement capabilities to institutional investors with access to a suite of algorithmic trading tools accessible 24 hours a day, 5 days a week. BCS GM first unlocked Russian markets for US investors with the launch of BCS Americas in 2016. BCS Americas…

Market May Lose Linker Love as South Africa Inflation Slows

Posted on by The Editorial Team

JOHANESBURG (Capital Markets in Africa) – South African government bonds that offer protection against price increases are outperforming nominal debt so far this year — but that may prove to be a false start. Demand for inflation-linked bonds increased as inflation in Africa’s most-industrialized economy accelerated in 2018, reaching an 18-month high of 5.2 percent in November. But the rate probably plunged to 4.5 percent in December, data will show Wednesday, according to the median estimate of 19 economists…

Egypt Sees More Pound Volatility After Repatriation Fund Ends

Posted on by The Editorial Team

CAIRO (Capital Markets in Africa) – Egypt’s stagnant exchange rate is likely to see more movement after a system that guaranteed foreign investors could repatriate dollars was terminated, but the central bank stands ready to fend off speculators and ensure debt holders don’t lose out, Governor Tarek Amer said. Amer’s remarks could help reassure foreign investors scrutinizing Egypt’seconomic policy as the country wraps up a three-year, $12 billion economic overhaul agreement with the International Monetary Fund this year….

EGYPT INSIGHT: Pound Volatility Coming, Dollar Ties to Loosen

Posted on by The Editorial Team

CAIRO (Capital Markets in Africa) – More volatility in the Egyptian pound is coming, but the central bank could use foreign exchange reserves and interest rates to support the currency. That’s the message from the governor of the Central Bank of Egypt. Here’s our initial take on what the governor told Bloomberg News: The Egyptian pound exhibited remarkable stability last year, hovering around 18 to the dollar, even as other emerging market currencies had a rough ride…

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