IFC, a member of the World Bank Group, and West Africa Regional Stock Exchange, Bourse Régionale des Valeurs Mobilières, have signed an agreement to cooperate toward improving corporate governance practices of listed companies.
Markets & Industry News
Azimut Group, Italy’s independent asset manager, has agreed to acquire 100% of Rasmala Egypt Asset Management from Rasmala Group, an independent alternative asset management group.
The opportunities for hotel development in Ivory Coast are at their strongest for a long time, as the country continues to bounce back from internal conflict, according to Philippe Doizelet, Horwath HTL’s Managing Partner.
South African investment fund managers are moving fast to meet investor demand for offshore diversification, according to Guernsey Finance.
The African Power Platform (APP) has been launched as a new initiative to connect Governmental and Private Stakeholders of the African power sector by creating a network where they can connect with ease.
Investec Asset Management has strengthened its strategic partnership with the China-Africa Development Fund (CADFund), the Chinese government’s main platform for facilitating Chinese investment in Africa with AUM of around $10bn.
Mergence Investment Managers, a majority black-owned asset manager with offices in Cape Town, Johannesburg and Windhoek has announced the opening of a newly licensed subsidiary in Maseru, Lesotho.
Zimbabwean stocks are expensive for new money investment, Hasnain Malik - Managing Director, Frontier Markets Equity Strategy at Exotix, has said.
Despite improved economic growth and better fundamentals, African Eurobonds have been hit hard in 2018, with at present 48% of African credits trading with yields over 7%, according to Renaissance Capital.
Several African countries have reported a rise in their GDP despite fears over increased debt according to ICAEW's (the Institute of Chartered Accountants in England and Wales) latest report.
Barclays Africa Group shareholders have approved that the group changes its name to Absa Group in July, setting in motion the start of one of the largest re-brand projects in Africa at this time.
Zambia’s US Dollar-denominated bonds continue to weaken, as the government has still not clarified the debt situation or its fiscal and borrowing plans, according to Exotix Capital.
The South African hedge fund industry ended 2017 with assets under management of R62.4bn, a decline of R5bn from the R67.4bn managed at the end of 2016.
The Angolan government has raised $3bn in its second Eurobond issue in international markets with demand from 500 investors based in the US, Europe and Asia reaching nearly $9bn.