The Editorial Team |

South Africa’s Pension Fund acquires stake in Bayport Management

Port Lious, Mauritius (Capital Markets in Africa):-The Public Investment Corporation (PIC), manager of South Africa’s $150 billion Government Employees Pension Fund (GEPF), is investing $149 million in Bayport Management, the Mauritius-based financial services company. However, the size of the minority stake acquired was not disclosed. Bayport Management Limited provides unsecured loans to customers in developing markets including several in Africa. Founded in 2001, the company now has over 6,700 employees servicing over 500,000 customers through 405 branches…

IFC Supports Tech Companies with US$10mn Investment in Wamda Capital

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Cairo, Egypt (Capital Markets in Africa) — IFC, a member of the World Bank Group, is investing $10 million in a venture capital fund that supports promising technology companies, part of an effort to drive job creation across the Middle East and North Africa (MENA). The investment will help Wamda Capital advise entrepreneurs and provide seed funding to tech firms in Egypt, Lebanon, Jordan, and other countries. Such support is considered vital in a region where…

Flow of External Finance to Africa over the last 25 years.

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Lagos, Nigeria (Capital Markets in Africa):- As they prepare for the fast-approaching Third International Conference on Financing for Development in Addis Ababa (July 13-16, 2015), policymakers, private sector actors, and other global leaders should examine the types of external financial flows (defined as the sum of gross private capital flows, official development assistance (ODA), and remittances) that different groupings of countries receive in order to best support the implementation of the post-2015 development agenda. Understanding how…

The Abraaj Group invests in Auvest MENASA Opportunities Fund

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Dubai, United Arab Emirates (Capital Markets in Africa) — The Abraaj Group (‘Abraaj’ or ‘The Group’), a leading investor operating in global growth markets, today announced its commitment of US$ 30 million to the Auvest MENASA Opportunities Fund I L.P. (the ‘Fund’). Through this investment, Abraaj will take on the role of cornerstone investor in the Fund, which intends to raise between US$ 250-300 million to invest in the small and medium enterprise (SME) sector across…

South African metros’ borrowing to rise to fund infrastructure projects

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Johannesburg, South Africa (Capital Markets in Africa):- South African metropolitan municipalities’ borrowing is expected to increase over the next three years to help pay for infrastructure spending needed to provide adequate electricity, water, roads and social housing for growing populations, Moody’s Investors Service said in a report published today. The report, entitled “South Africa Metropolitan Municipalities: Borrowing to increase as infrastructure investment needs rise”, is now available on www.moodys.com. Moody’s subscribers can access this report…

Broadly stable outlook for Sub-Saharan African sovereign credit quality

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London (Capital Markets in Africa):- The credit quality of sovereigns in Sub-Saharan Africa (SSA) over the next 12-18 months will be supported by strong infrastructure investment, structural reforms and competitiveness gains from currency depreciation, says Moody’s Investors Service in its latest sovereign outlook for the region. However, lower oil and commodity prices, uneven global growth, latent political risk and tighter external financing conditions pose challenges of different magnitudes to the region’s economies. The report, “Sovereign…

Sub-Saharan Africa banking sector has strong regional growth prospects

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London (Capital Markets in Africa):- Sub-Saharan Africa’s fast-expanding banking sector has strong potential to continue its recent growth trend, boosted by robust economies and widening financial inclusion, Moody’s Investors Service said in a report published today. The report, entitled “Banking – Credit Trends in Sub-Saharan Africa”, is now available on www.moodys.com. Moody’s subscribers can access this report via the link at the end of this press release. The research is an update to the markets…

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