Investors have had disappointing returns from domestic equities this year after a promising start. South Africa (SA) is now in a recession and the global backdrop is no longer as supportive, so President Ramaphosa will have his work cut out to instil a new sense of confidence to ignite growth. His stimulus package and a revised mining charter are good signs, but scepticism dominates markets. Hope alone is not– implementation is required. Where might be the turning point?
After the political and economic turmoil of recent years, Morocco has emerged as a safe haven for PE investments, attracting capital from abroad through its political stability and favourable business environment. During the 2012-2017 period, 56 transactions were closed, representing 42% of North African transactions (Morocco accounts for 20% of the total population in North Africa), amounting to nearly $900m.
Venture Capital (VC) in Africa has grown at a tremendous pace in the last few years as investors hunt value earlier in the cycle. Startup funding in the first half of 2018 was over 50% higher than in the whole of 2017. AGF’s Anna Lyudvig speaks with Enitan Obasanjo-Adeleye, AVCA's Director and Head of Research to discuss the current trends.
AGF catches up with Zack Bezuidenhoudt, Head of Client Coverage, South Africa and Sub-Saharan Africa, S&P Dow Jones Indices, to discuss the indexing industry, investors’ needs and whether Africa is following global trends
SGG Group offers administrative and accounting solutions for investment funds, multinational corporations and family offices across more than 20 countries. Last year, the firm acquired Cim Global Business in Mauritius, which was rebranded as SGG. Graham Sheward, Managing Director, SGG Mauritius, tells AGF about some of the projects in Africa.
IBIS is a premier emerging market sustainability consultancy that assists private and public companies unlock value and improve their environmental and social performance. IBIS was established in 2015 by some of the most experienced and respected sustainability consultants in Africa who collectively have over 150 years’ experience in the environmental and social management fields. IBIS has offices in Johannesburg and Cape Town, South Africa and in Nairobi, Kenya. Since establishment, IBIS has undertaken hundreds of projects for African and global financial sector clients in >40 countries in Africa as well as in Asia, the Middle East, Europe and the Americas. IBIS employs over 30 professional staff and has in-house language capabilities in English, French, Portuguese, Spanish and various African languages.
Hamish James, Investec’s Head of Prime Services, tells AGF about Investec Prime, developments in the past year, fintech and SA hedge fund industry
More than half the world’s fastest-growing economies since 2000 have been in Africa. Future growth projections suggest that by 2030 Africa will be home to 1.7 billion people, 43% of whom will belong to the upper or middle classes.
Sven RIchter, Fund Manager at Drakens Capital Fund Managers, looks at China’s One Belt One Road Initiative and what it means for Africa
AGF’s Anna Lyudvig sits down with Ann Leepile, Head of Absa Asset Management, to discuss the firm, its franchise model and how to succeed as a female in a male-dominated industry
The need for energy and the case for investing in energy in the region has generally been well documented. The Southern Africa Community Development (SADC) secretariat’s Regional Infrastructure Development Plan estimates that only 5% of rural areas in the region have any access to electricity. The southern African region as a whole has low access to electricity of about 42 percent compared to around 36 percent for the East African Community and 44 percent for the Economic Community of West African States.
Zimbabwe’s President Emmerson Mnangagwa had regarded the recent elections as his opportunity to rehabilitate the country in the eyes of the international community. To what extent has that opportunity been lost? Here’s an assessment from Dr. Christopher McKee (pictured), the CEO of PRS Group, the biggest quant-driven country risk analysis firm, whose data feeds Transparency International, the IMF and many of Wall Street’s largest investment firms.
The interest rate risk of the All Bond Index has been systemically increasing over time. This is driven by persistently high fiscal deficits and the resultant issuance of longer term SA government debt. Many retirement fund investors use the All Bond Index (ALBI) as their benchmark for bond allocations. They should be conscious of the steadily rising volatility of bond returns and that such bond allocations are riskier than they have been historically. While the ALBI has been used as a proxy to match pension funds’ liabilities, the ALBI itself has probably grown more volatile than pensioner liabilities.
Goodwell Investments has recently launched Goodwell Microfinance Development Company IV (Goodwell IV), a new €20m fund for investments in the inclusive economy in Sub-Saharan Africa. AGF catches up with Wim van der Beek, Partner at Goodwell Investments, to learn more