Investment | - Part 22

Carlyle to become largest shareholder in South Africa’s Global Credit Ratings

JOHANNESBURG (Capital Markets in Africa) – Carlyle Group has agreed to become the largest shareholder in Johannesburg-based Global Credit Ratings (GCR), the U.S. buyout fund said on Tuesday, looking to broaden the pan-African ratings agency’s services. Terms of the deal, which was first reported by the Financial Times, were not disclosed. Carlyle is set to buy around half of the equity in GCR from its management founders and German development finance business DEG, which will remain…

Africa’s Most Valuable Business Worth Less Than What It Owns

Posted on by The Editorial Team

JOHANNESBURG (Capital Markets in Africa) – Fifteen years ago, a South African media company invested $34 million in an obscure Chinese Internet developer. Today that stake is worth $88 billion. All Naspers Limited, now Africa’s most valuable company, has to do is figure out how to make money from its other properties: The whole company is worth only $72 billion, less than its stake in Shenzhen-based Tencent Holdings Limited. Investors aren’t impressed with Naspers’s operations in pay-TV, newspapers and e-commerce…

Dangote, China’s Sinotruck set up $100 million Truck Plant in Nigeria

Posted on by The Editorial Team

LAGOS (Capital Markets in Africa) – Africa’s richest man Aliko Dangote has partnered with China’s heavy duty truck group Sinotruck to set up a $100 million plant to assemble trucks and cars in Nigeria for local use and export, the executive director of Dangote group said. The joint venture, which is 65 percent owned by Dangote and 35 percent by Sinotruck will assemble components and knocked down parts imported from Sinotruck to the Nigerian plant….

Donald Trump’s Team Has Questions About Africa. Here Are Answers

Posted on by The Editorial Team

WASHINGTON (Capital Markets in Africa) — President-elect Donald Trump’s transition team has circulated a list of questions on Africa to the State Department and Pentagon. At the top of the list are two queries about the United States and China and their relative presence on that continent: “How does U.S. business compete with other nations in Africa? Are we losing out to the Chinese?” Peter Navarro, who will lead Trump’s National Trade Council, provided his…

Acacia Jumps in London on Talks for $4 Billion Endeavour Merger

Posted on by The Editorial Team

JOHANNESBURG (Capital Markets in Africa) – Acacia Mining Plc jumped in London trading after the gold miner confirmed it is in early-stage talks with rival Africa-focused producer Endeavour Mining Corp. about a possible merger of the two companies which have a combined value of about $4 billion. Acacia, which mines the precious metal in Tanzania, jumped as much as 7.7 percent to the highest since November 21. The stock traded at 435.1 pence a share at…

Foreign Purchases of Local Egypt Debt May Reach $11 Billion

Posted on by The Editorial Team

CAIRO (Capital Markets in Africa) – Egypt sees foreigners buying as much as $10 billion to $11 billion in local Treasury bills and bonds in the coming period, Finance MinisterAmr El-Garhy told reporters Sunday. Government moves to reform the economy and growing investor confidence are underpinning the gradual return to levels achieved before the 2011 uprising that ousted President Hosni Mubarak, he said. Foreign holdings of Egyptian debt rose by as much as $900 million after authorities floated…

Guinea Must Tighten Grip on Bauxite Industry, President Says

Posted on by The Editorial Team

GUINEA (Capital Markets in Africa) – Guinea wants to get a tighter grip on its bauxite industry and keep out companies that aren’t consumers of the ore, President Alpha Conde said in a speech on state television. “We don’t want traders in Guinea. It’s abnormal that we have more than half of the world’s bauxite reserves but not even 2 percent of the market share,” Conde said. “We’re producers and we’re going to work directly with our…

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