Africa | - Part 25

Finance | OPIC Says Renewable Energy Drives Its Expanding Africa Portfolio

LAGOS, Nigeria, Capital Markets in Africa — Renewable energy projects and small off-grid plants will drive growth of its African investment portfolio, according to MD for Africa Peter Ballinger of Overseas Private Investment Corporation (OPIC), USA. OPIC experiencing fastest growth in Africa; region received as much as $1.6b in energy, $1.2b non-energy investment in 2015. “We are seeing an increase in smaller renewable projects both grid connected and non-grid connected and we are seeing a…

INTO AFRICA: African Economic Outlook in 2016

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LAGOS, Nigeria, Capital Markets in Africa — In 2015, Africa experienced its slowest economic growth rate since the 1998 global financial crisis. The Sub-Saharan Africa real GDP growth fell from 5.0 percent in 2014 to 3.75 percent in 2015 (IMF’s estimates). The downside risks in 2015 (low commodity prices, a slowing in China’s growth and uncertainty in the level of USA’s real growth rate) are expected to spill-over to 2016 but with reduced impact. As…

Orange Launches Entrepreneur Club for start-ups in Africa

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LAGOS, Nigeria, Capital Markets in Africa — Orange is launching the Entrepreneur Club, a new space for information in French and English devoted to entrepreneurs in Africa and the Middle East. The website (http://entrepreneurclub.orange) is a source of information for entrepreneurs that puts them in touch with a variety of instruments from Orange that support entrepreneurship. The Entrepreneur Club also provides practical information and tools for company creation. Orange supports start-ups in Africa and the…

AXA buys 8% stakes in Africa Internet Group at US$84 million …

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LAGOS, Nigeria, Capital Markets in Africa — French insurer AXA plans to invest 75 million euros (US$84 million) in Africa Internet Group (AIG), the owner of online retailer Jumia. AXA and AIG view Africa as a fast developing market for financial services and insurance products, benefiting from strong fundamentals such as low penetration rates, rise in middle class, urbanization as well as the youth of its population. The deal will give the AXA, an 8…

Pessimism creates the best optimism in the long run — Mark Mobius, Executive Chairman, Templeton Emerging Markets Group

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Emerging market guru, Dr. Mark Mobius, Executive Chairman, Templeton Emerging Markets Group, Franklin Templeton Investments, has been investing in global emerging markets for more than 40 years. He joined Templeton in 1987 and currently directs the Templeton research team, which is based in 18 global emerging markets offices, and manages emerging markets portfolios including Africa. Mark Mobius shares his views on the prospects and challenges in 2016 with Capital Markets in Africa. Retrospectively, in your…

Excitement over “People Power” in Africa will not continue in 2016 — Control Risk

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NAIROBI, Kenya, Capital Markets in Africa — People power witnessed in 2014 and 2015, for example in changes of government in Burkina Faso and Nigeria, will be proved limited in 2016. A combination of elections, constitutional pressures and financial difficulties will test governments across the region, including in Chad, Uganda, Congo (Brazzaville), Angola and South Africa. Incumbents will however retain their hold on power. These are some of the key messages of RiskMap 2016, published…

Corruption on the rise in Africa, 75 million Africans pay a bribe …

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LAGOS, Nigeria, Capital Markets in Africa — A majority of Africans say corruption has risen in the past 12 months and most governments are seen as failing in their duty to stop the abuse of power, bribery, and secret deals, according to a new opinion poll from Transparency International. In the report People and Corruption: Africa Survey 2015, part of the Global Corruption Barometer, Transparency International partnered with Afrobarometer, which spoke to 43,143 respondents across…

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