The Editorial Team

Ox Delivers: An interview with one of AFSIC’s many Success Stories

OX Delivers is an on-demand logistics company bridging the gap of Transport Poverty in Africa. With a strong focus on African rural emerging markets, OX uses clean, reliable, and affordable transport to help customers get their goods to market. The use of clean-transport electric trucks ensures OX is having a positive environmental impact as well as an economic and social impact on African communities. OX attended AFSIC 2021 and found it to be the perfect…

Energy sector moves up a gear – Bhavtik Vallabhjee, Head: Power and Renewables, Absa Securities UK

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LONDON (Capital Markets in Africa) – While South Africans are understandably frustrated by the operational issues at Eskom and the impact it is having on business and quality of life, it is important to stop and appreciate that real progress is being made. Let’s be clear: What South Africa has achieved over the past decade is nothing short of remarkable. The transition from a primarily coal-based energy economy was never going to be easy and…

Total focus on renewables and gas is the cheapest way to meet Mozambique’s new electricity demand

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MAPUTO (Capital Markets in Africa) – To meet its growing energy needs and increase electricity access across the population, Mozambique must build 1.3 GW of new power capacity over the next decade. A further 2 GW would be needed to support the planned development of the Beluluane Industrial Park in the Maputo province. The challenge facing policy makers today is to identify and develop an optimal energy mix at the lowest total cost to service…

Options Emerge for African Nations Locked Out of Debt Markets

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LAGOIS (Capital Market in Africa) – African nations in search of cheaper financing still have the option to seek budget support from multilateral institutions and issue green bonds as eurobond yields surge, according to Oxford Economics Africa. Of the 74 emerging sovereign dollar bonds tracked in a Bloomberg index, more than half of the worst-performing securities in the month to date are in Africa. That’s pushed the average eurobond yield on the continent to levels last seen…

Congo Central Bank Takes Over Afriland Amid Concern of Contagion

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KINSHASA (Capital Markets in Africa) – Democratic Republic of Congo’s central bank ordered that Afriland First Group SA’s unit in the country be placed under administration amid worries that credit problems at the lender could destabilize the financial sector. Central bank Governor Malangu Kabedi Mbuyi announced the measure on June 20 in a communique and in a letter to Afriland’s shareholders, seen by Bloomberg. The central bank has been concerned about Afriland’s risk profile since…

Mauritius Group Buys IFC Stake in Kenyan Largest Retailer Naivas

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LAGOS (Capital Markets in Africa) – Mauritian conglomerate IBL Ltd. and its partners acquired a 40% stake in Kenya’s biggest retailer Naivas Ltd., a milestone in the company’s East Africa expansion plan. IBL teamed up with Proparco, a subsidiary of French lender Agence Française de Développement and German KfW Group unit DEG on the deal, the Kenyan company said in an emailed statement. It involved the investors buying shares held by the International Finance Corp. and Amethis…

Saudi Prince Seals $7.7 Billion in Egypt Deals at Start of Tour

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CAIRO (Capital Markets in Africa) – Egypt and Saudi Arabia signed almost $8 billion in deals as the oil-rich kingdom’s crown prince began a Middle East tour aimed at promoting his role as a regional power-broker. The two nations signed 14 investment pacts valued at $7.7 billion, Egyptian state-run Middle East News Agency reported Tuesday, covering sectors including renewables, pharmaceuticals and e-commerce. Among them was an agreement with ACWA Power to generate and transfer…

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