The Editorial Team

Ethiopia: The Road to Recovery – Nicholas J. Pascal, Partner at Vedder Price

For over a decade in the 2010s, Ethiopia was widely regarded as one of Africa’s most promising economies, averaging economic growth of nearly 10% per year per capita according to data from the World Bank. More recently, Ethiopia has faced multiple shocks that have considerably slowed its economic growth, including civil unrest, the COVID-19 pandemic and adverse climate events. Despite these significant challenges, it appears that Ethiopia is now on the road to recovery with…

Despite choppy waters in international markets, Africa positions itself for global recovery

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War, inflation, and ripples from the pandemic have gripped the global economy for the past few years, and Africa has not been immune from these shocks. Global capital markets have dwindled, as higher borrowing costs and lower valuations lead to more frugal investments. But riding out this storm is not just a waiting game: countries that lay the foundations now will be best placed to flourish once the economy bounces back. Africa has been making…

NextGen Succession Planning for Kenyan Family Businesses; Including market insights into Waqf Principles

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Recent research conducted by Asoko has revealed that Kenya boasts close to 500 family-owned businesses that generate revenues surpassing the US$10 million mark. This diverse spectrum of businesses spans across various industries, sectors and specialisms. Furthermore, among these businesses, close to 15% achieve annual earnings exceeding US$50 million, a quarter of which exceed the US$100 million threshold. Despite their positive impact on Kenya’s economy, family-owned businesses face several structural challenges, including a lack of robust…

Green Climate Fund Approves USD 50m for REPP 2 in Africa

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LONDON (Capital Markets in Africa) – The Board of the Green Climate Fund (GCF) has approved the allocation of USD 50m in equity to REPP 2, a new debt fund providing an opportunity to invest in Sub-Saharan Africa’s fast-growing renewable energy market. Climate and impact fund manager Camco is developing REPP 2 as a USD 250m fund designed to deliver significant climate, economic and gender impacts while ensuring sustainable returns for investors. Latest research shows…

Emerging Market Investment Philosophy:- John Ewart, Fund Manager, Aubrey Capital Management

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You are significantly overweight Consumer Discretionary (45.8%) and Consumer Staples (24.2%) versus the MSCI EM Index (14.19% and 6.2%). Why did you choose these sectors over Information Technology? As emerging economies develop, the hard-working populations within them start to prioritise different goods and services on their shopping lists. In the last 20 years, the urbanisation of emerging markets has created sufficient wealth to more than double the ranks of the consuming class, to 2.4 billion…

Nerves ease about inflationary pressures and oil hovers at lower levels

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LAGOS (Capital Markets in Africa) – Another day, and another US jobs report has set the tone, but this time it’s relief rather than anxiety washing through. The FTSE 100 is treading water amid calmer sentiment in early trading, after tech stocks on Wall Street powered indices higher. Hopes are increasing that interest rates in the US might not have to stay at quite such high levels for quite so long. Investors are fixated on…

Bank of England puts the brakes on: Investments, Savings, Annuities and Mortgages

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The Bank of England has finally put the brakes on the relentless rate hiking cycle. A rise had been heavily pencilled in but was wiped off the board by the surprise fall in inflation. Even before the announcement, the markets reacted, with implications for savers, mortgage borrowers and anyone considering an annuity. As the market digested the news that inflation had come down, it decided a rate rise wasn’t so likely after all. As a…

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