Investment | - Part 13

Miners Ask Congo to Adjust Tax Repayments for Franc Slump

DR CONGO (Capital Markets in Africa) – Mining companies in the Democratic Republic of Congo asked the government to adjust pending value-added tax repayments for a slump in the franc that could cost them as much as $210 million collectively. Federation des Entreprises du Congo, the country’s largest business lobby group, sent the request in a letter to Finance Minister Henri Yav Mulang on May 5. John Nkono, the secretary-general of the FEC’s Chamber of…

What Investors Need to Know About Nigeria’s New Exchange Window

Posted on by The Editorial Team

LAGOS (Capital Markets in Africa) – There’s a lot riding on Nigeria’s new foreign-exchange platform. The system — called the Investors’ and Exporters’ FX Window — is the government’s latest attempt to lure back traders who fled in the past two years. The idea is that by creating a market for some types of investment transactions, policy makers can satisfy calls to float the currency without risking an inflationary spiral that may come from a devaluation. Eventually,…

Pizza Hut Enters Ethiopia in Latest Expansion Into Africa

Posted on by The Editorial Team

LAGOS (Capital Markets in Africa) – Pizza Hut is set to open three outlets in Ethiopia this year, becoming one of the first international restaurant chains to enter Africa’s second-most populous country. The restaurants are scheduled to begin serving in the capital, Addis Ababa, by November, franchisee Aschalew Belay said in an interview Monday. Aschalew’s company, Belayab Foods and Franchise, will run the local outlets of the Yum! Brands Inc. pizzeria and will have invested $5.5 million…

Foreigners Lapping Up Egypt’s Growing Supply of Cheap Debt

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CAIRO (Capital Markets in Africa) – A flood of new issuance is offsetting foreign-investor demand for Egyptian debt, keeping yields among the highest in emerging markets. Offshore investors boosted holdings of government Treasury bills to 79 billion pounds ($4.4 billion) as of April 4, compared with less than 1 billion pounds before a currency devaluation in November, according to Finance Ministry data. Government borrowing is already 11 percent higher than the target this year, and…

Potential Investment Potholes To Watch For In 2017

Posted on by The Editorial Team

LAGOS (Capital Markets in Africa) – Few could have predicted the confluence of factors that have shifted African markets in recent years. We’ve seen countries making earnest efforts to improve investment climates that have helped drive economic growth. We’ve seen large reductions in absolute poverty and growth in an African middle class with disposable income. We’ve seen the scale up of new technologies and the leapfrogging of legacy systems in areas such as banking, telecommunications,…

Private Equity in Africa: Emerging Trends

Posted on by The Editorial Team

LAGOS (Capital Markets in Africa) – Private equity in Africa has come a long way since the early 1990s, which saw development financial institutions (DFIs) investing in government initiated development projects across the continent. The period that followed was characterised by the emergence of a limited number of South African focused PE funds, which over the next decade started to invest more widely across the continent. By 1997, there were 12 private equity funds that…

South Africa’s Shoprite looks beyond Africa to Eastern Europe

Posted on by The Editorial Team

CAPE TOWN (Capital Markets in Africa) – Africa’s biggest grocery retailer Shoprite is considering a push into Eastern Europe, where it hopes to use knowledge gleaned from former suitor Steinhoff International, its new CEO told Reuters. The move signals a change in strategy for Shoprite under Chief Executive Pieter Engelbrecht, 47, as sovereign rating downgrades and a weak economy cloud prospects at home. It also leads it down a competitive path crowded with established retail giants…

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