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Truecaller Phone App Maker in Talks With Airtel About Africa

LAGOS (Capital Markets in Africa) – Swedish phone-app developer True Software Scandinavia AB is in talks with wireless operators including Bharti Airtel Limited to expand its fast-growing Truecaller spam-filtering service in Africa. Truecaller is seeking to roll out a version of the app that works with 2G phones, Chief Commercial Officer Ted Nelson said in an interview in Cape Town on Wednesday. About 70 percent of cell users in Africa use so-called service phones — devices that…

India Exim Bank’s $100 Million Funds Nigeria Power Projects

Posted on by The Editorial Team

LAGOS (Capital Markets in Africa) – India’s Export-Import Bank will provide Nigeria with $100 million in concessionary loans to fund power projects. They include a solar-power plant to supply the northern city of Kaduna and two gas-fired facilities to be built in the south-eastern states of Enugu and Cross River, Indian High Commissioner to Nigeria B.N. Reddy said in a Nov. 7 interview in the commercial capital, Lagos. “The power sector has been identified as…

Campaign for More Diamond Ads Wins Support From India’s Gem Hub

Posted on by The Editorial Team

LAGOS (Capital Markets in Africa) – The push for bigger diamond advertising campaigns and marketing to wealthy millennials has won support from a key part of the industry: India’s manufacturers and retailers. India’s Gem & Jewellery Export Promotion Council, which represents almost 6,000 diamond companies, has agreed to contribute $2 million to the Diamond Producers Association, a group designed to promote gems and backed by miners, according to executives from both organizations. India is the…

Next Leg of Emerging-Bond Rally About to Start as Rate Cuts Loom

Posted on by The Editorial Team

LAGOS (Capital Markets in Africa) – The bond rally across emerging markets may get fresh legs. Pressure is growing on central banks in developing nations to cut interest rates more aggressively as inflation eases and the Federal Reserve takes a gradual approach to policy change. That’s reducing the need for the high borrowing costs that deter capital outflows and protect emerging-market currencies. Looser monetary policy is a potential boon to already surging sovereign and corporate bonds in emerging…