The Markets | - Part 123

Regulation of the Initial Coin Offerings: Sitting in the Waiting Room

LAGOS (Capital Markets in Africa) – Although the debate about whether or not to regulate initial coin offerings (ICOs) is in full swing, many key regulators are hot on its heels, and even if we are in the first paragraph, ‘in summary’, they are going to be regulated. The challenge, of course, will be to regulate appropriately without stifling growth and innovation. The volatility of certain tokens (also traditionally referred to as cryptocurrencies or coins)…

THE ALPHA STORY IN AFRICA

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LAGOS (Capital Markets in Africa) – Many investors are familiar with the African growth story. The young demographic, growing middle class and attractive GDP growth prospects have been recited before and I am sure we can agree that the long-term growth story sounds superb. For investors with a long-term horizon, these fundamentals make Africa the perfect place to invest your money for the next 10-20 years especially as most of the developed regions do not…

African Could Drive A Globally New Stock Exchange Model

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LAGOS (Capital Markets in Africa) – For decades, analysts and influencers have believed that Africa would emerge from its colonised past most powerfully by developing new business and economic models. The global economy had evolved in the West and could therefore not hope to accurately serve the needs of nations that had been bereft of wealth and self-determination for so long. Africa would need to leapfrog Western habits of thinking, creating new approaches to politics,…

Leveraging Digital Technology in African Financial Services

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LAGOS (Capital Markets in Africa) – Before technology was as accessible as it is today, cash and cards consisted the main ways to access finance on a mass scale. However today, in many of the African economies, most of the population still does not have the ability to open a bank account, due to the lack of the required source of revenue and the challenge with many Africans not having the necessary information to sign…

Nedbank Sees Asset Growth Expanding Slower Than S. African GDP

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JOHANNESBURG (Capital Markets in Africa) – Nedbank Group Ltd. forecast that interest-earning banking assets will increase at a rate below that of nominal growth in South Africa’s gross domestic product, after earlier predicting it will be in line with the economy’s expansion. The lender’s credit-loss ratio, which rose 6 basis points to 53 basis points, will also increase slightly above the level achieved in 2017 although it will remain below its 60-100 basis-point target range, Johannesburg-based…

Mozambique May Reject Eurobond Restructuring Plan, Exotix Says

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MAPUTO (Capital Markets in Africa) – Mozambique might reject a debt proposal from a key group of holders of the southeast African nation’s Eurobonds as the plan excludes two other loans the government wants to restructure, Exotix Capital said. The so-called Global Group of Mozambique’s Bondholders last week presented a counter-proposal to Mozambique that provided nearly $1 billion of cash-flow relief until 2023, when the $727 million Eurobond falls due. The plan would also provide the…

Iron Ore Breaks Above $70 as China’s Pivot Helps to Stoke Demand

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LAGOS (Capital Markets in Africa) – Iron ore has finally broken above $70 a metric ton. After a crawl higher in recent weeks, bulls drove the price back over that threshold, encouraged by surging steel prices in China, where there’s growing demand for high-quality material aided by state-driven investment and pollution curbs. SGX AsiaClear futures rallied as much as 1.5 percent to $70.60 a ton, the highest since March, and were last at $70.49. On the spot…

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