Africa | - Part 22

Kenya Pauses Monetary Easing, Sees Moderate Inflation Pressure

NAIROBI, Kenya, Capital Markets in Africa: The Central Bank of Kenya maintained its benchmark interest rate at 10.5 percent with an eye on accelerating inflation and concerns that Britain’s exit from the European Union may trigger capital flight. The decision by the monetary policy committee led by Governor Patrick Njoroge was anticipated by seven of eight analysts surveyed by Bloomberg. One economist predicted a 50 basis point reduction at Monday’s meeting, following one percentage point cut at the previous gathering in…

Sub-Saharan credit growth rates halve in two years says ODI report

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LAGOS, Nigeria, Capital Markets in Africa: Private credit growth across sub-Saharan Africa has more than halved over the past two years and ground to a halt in oil exporting countries following low oil prices and the economic slowdown in China, weighing heavily on regional growth prospects, a report said on Friday. With international finance having become ever scarcer and costlier, private credit in sub-Saharan Africa increased by just 7 percent in the first six months…

Embracing Local Capital Markets: An Alternative Approach to Hedging Currency Risk in Africa

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LAGOS, Nigeria, Capital Markets in Africa: With the appearance of stalwarts of the global private equity industry in Africa such as Carlyle, the Abraaj Group and Temasek, the outlook for private equity flows into the continent should be promising. The reality for these fund managers, is that the majority of growth being created is in local currency and as such their returns are impacted by volatility in exchange rates between local currency and the US…

EGYPT: The Gateway for International Private Equity Investment into Africa

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LAGOS, Nigeria, Capital Markets in Africa: Located at the North Eastern gate of Africa, Egypt is considered the gateway to African markets in terms of both investments flows, and target exports destinations. Together with the 90 million plus citizens, its professionally sophisticated financial sector adds to its comparative advantage as an appealing destination for investment flows, mandated towards both the local market and the neighbouring African countries, known for their huge investment potential. In spite…

Infrastructure | Africa’s longest running Public Private Partnership conference comes back to London

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LONDON, UK, Capital Markets in Africa: The 8th Africa Public Private Partnership Conference and Showcase (APPP) will once again be held in London due to popular demand and will showcase investment opportunities and planned infrastructure development projects from across Africa. Organised by AME Trade, the event will take place from the 24 – 26 October 2016 at the Radisson Blu Hotel, London, UK building on the success of the previous editions. Over the past 7…

Africa’s Richest Person Drops $3.7 Billion on Plunging Naira

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LAGOS, Nigeria, Capital Markets in Africa Nigerian billionaire Aliko Dangote, Africa’s richest person, fell 25 places on the Bloomberg Billionaires Index on Monday as the naira tumbled on its first day of trading without a peg to the U.S. dollar. Dangote’s fortune fell $3.7 billion, knocking him to No. 71 on the Bloomberg ranking, down from No. 46 on Friday. The majority of Dangote’s $12.7 billion fortune is derived from a 91 percent stake in Dangote Cement…

Investment | Mediterrania Capital Partners invests in MedTech Group, Morocco

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Casablanca, Morocco, Capital Markets in Africa: Mediterrania Capital Partners, the regional private equity firm focusing on growth investments for companies in North African and sub-Saharan countries, announces the acquisition through its second fund, Mediterrania Capital II, of a stake in MedTech Group, Morocco’s leading IT business system integrator incorporating solutions from corporations such as Oracle, Microsoft, NCR, Alcatel-Lucent, Cisco, EMC and IBM. With 25 years of experience in the IT industry, nowadays MedTech is operating…

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