Investment | - Part 45

Barclays eyes Kenyan asset management after insurance deal

Nairobi, Kenya (Capital Markets in Africa) – Barclays Africa Group plans to move into the asset management business in Kenya this year after reaching a deal on Wednesday to buy a majority stake in insurer Kenya First Assurance Ltd for 2.8 billion shillings ($28.84 million). Barclays’ deal to buy a 63.3 percent in the Kenyan insurance company is part of a plan to boost revenue from its African operations outside of South Africa. Barclays Africa…

IFC is injecting $20 million in equity into Agrivision Africa

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Lagos, Nigeria (Capital Markets in Africa) —The IFC is injecting $20 million in equity into Agrivision Africa to help finance its expansion program in Zambia bia investments in supply chain optimization, development of irrigated land and to restructure its balance sheet to the appropriate gearing level. Established in Mauritius, Agrivision focuses on large scale commercial farming through three subsidiaries in Zambia, twp of which are farms growing maize, soya beans and wheat while the third is…

Standard Chartered will invest Millions to boost retail business says Group Head of Retail

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Nairobi (Capital Markets in Africa): – Standard Chartered will spend “hundreds of millions of dollars” in the years ahead to raise the share of income from its retail business 10 percentage points by 2020, its group head of retail clients said. Karen Fawcett said the lender, which focuses on Asia, Africa and the Middle East, would invest the money in areas such as technology to raise the share of retail business income from 30 percent now….

Nigeria agriculture minister wins African Development Bank presidency

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Abidjan (Capital Markets in Africa) – Nigeria’s Agriculture Minister Akinwumi Adesina won an election on Thursday to be the new president of the African Development Bank (AfDB). After six rounds of voting that saw seven rivals from across the continent defeated, Adesina secured around 60 percent of the vote in an election held in Ivory Coast, where the AfDB is based. Adesina will take over from outgoing bank president Donald Kaberuka of Rwanda on Sept. 1…

AfDB sees Africa’s GDP growth nearing pre-crisis levels

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Abidjan, Ivory Coast (Capital Markets in Africa) – African economies will grow 4.5 percent this year and 5 percent in 2016, approaching levels last seen before the 2007 global financial crisis, as economic prospects improve worldwide, the African Development Bank (AfDB) said. The AfDB estimates that Africa’s gross domestic product expanded by 3.9 percent in 2014 despite sharp falls in international commodity and oil prices, an Ebola epidemic and pockets of political instability and armed conflict….

Foreign direct investment in Africa surges

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Lagos, Nigeria (Capital Markets in Africa):- Africa is the world’s fastest-growing region for foreign direct investment, according to a report from fDi Intelligence, a data division of the Financial Times group. In a year when the global greenfield FDI market grew a paltry 1%, Africa enjoyed a 65% increase in capital investment in 2014 over the previous year, to an estimated USD 87bn. The number of FDI projects in the continent rose 6%. The FDI…

Mobius: Africa Offers Best Emerging Opportunities

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London (Capital Markets in Africa):- Emerging market guru Mark Mobius tells investors not to be put off by negative headlines – there are plenty of viable growth opportunities in the African stock markets. Emma Wall: Hello and welcome to the Morningstar Investment Conference. I’m Emma Wall and I’m joined today by Dr. Mark Mobius of Franklin Templeton to talk about the opportunities in emerging markets. Hello Mark. Mark Mobius: Hi, how are you? Wall: So…

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