Risk |

Investor Demand and Business Activity to Increase as Political Stability Returns to Kenya

NAIROBI, Kenya, December 17, 2017/ — Kenya is emerging from a protracted presidential election process and seeing a return to political stability. Nonetheless, challenges will persist in 2018 for organizations operating in the country and East Africa more widely. High debt levels in Kenya and unpredictable policymaking in Tanzania are among the key risks for businesses operating in the region in the year ahead, says specialist global risk consultancy Control Risks (www.ControlRisks.com) in its annual…

Barclays CEO Whistle-Blower Probe Is Said to Take Until December

Posted on by The Editorial Team

LAGOS (Capital Markets in Africa) – U.K. regulators probing Barclays Plc Chief Executive Officer Jes Staley’s attempts to unmask a whistle-blower will probably take until the end of the year to conclude their investigation, people with knowledge of the process said. The Financial Conduct Authority expects to reach a final decision on Staley’s fate in December, said the people, who asked not to be identified speaking about an open case. That would be two months later than the original October…

Navigating the Business Environment in Africa under the “New Normal”

Posted on by The Editorial Team

LAGOS (Capital Markets in Africa) – Macro-economic instability fuelled by low oil prices and global economic sentiment will continue to be the main driver of business risks across West Africa in 2017. Governance improvements and the embedding of certain democratic practices and norms will limit the scope of potential for deterioration, but challenges will still persist. Cyber-attacks are advancing in nature. Businesses will become increasingly vulnerable until the impact of cyber risks on their operations…

De-Risking in Africa is on the risk according to latest Swift data

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LAGOS (Capital Markets in Africa) – The latest SWIFT data shows that many countries in Africa have seen a reduction in the number of foreign counterparties, the overseas banks with which African banks transact. The data was part of a new report looking at the impact of global regulations on correspondent banking networks, called ‘Addressing the unintended consequences of de-risking – Focus on Africa’, which was released at the SWIFT Business Forum South Africa, in…

Glencore Reviewing Bribery Allegations Said to Involve Gertler

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JOHANNESBURG (Capital Markets in Africa) – Glencore Plc, the world’s biggest commodity trader, is reviewing allegations by U.S. authorities regarding the bribery of officials in the Democratic Republic of Congo said to implicate its partner, Israeli billionaire Dan Gertler. Some of Gertler’s projects in Congo were funded by Och-Ziff Capital Management Group LLC, which on Thursday agreed to pay more than $400 million to settle a U.S. investigation that it committed bribery violations in Africa. Och-Ziff’s partner in…

Och-Ziff Plea Halts Rise of Hedge-Fund Billionaire’s Protege

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JOHANNESBURG (Capital Markets in Africa) – At the turn of the century, hedge-fund billionaire Daniel Ochsent protege Michael Cohen, still in his twenties, to spearhead Och-Ziff’s expansion into Europe. Cohen’s team bet so successfully on equities and corporate deals that less than a decade later he was able to buy a 900-acre estate in the English countryside. A relentless investor with little patience for small talk, he was always looking for his next score, say people who know him. That led…

IMF Says Pan-African Banks Could Pose Systemic Risks

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Rapid expansion of cross-border banking in Africa in recent years poses oversight challenges that, if unaddressed, may increase systemic risks, IMF staff said. A recent report noted that pan-African banks have a systemic presence in around 36 countries and are now more important than the continent’s long-established European and American banks. Pan-African banks are improving competition, especially in host countries with small markets, driving innovation, and bringing new opportunities for diversification for the home countries….