The Covid pandemic and volatile markets are causing various investors and asset owners to review their portfolios, according to Zack Bezuidenhout, Head of client coverage for S&P Dow Jones Indices SA and Sub-Saharan Africa.
Markets & Industry News
The Multilateral Investment Guarantee Agency (MIGA), a member of the World Bank Group, has launched a $6.5bn fast-track facility to support private sector investors and lenders tackling the COVID-19 pandemic in low- and middle-income countries.
Growth in Sub-Saharan Africa has been significantly impacted by the ongoing Coronavirus outbreak and is forecast to fall sharply from 2.4% in 2019 to -2.1 to -5.1% in 2020, the first recession in the region over the past 25 years, according to the latest Africa’s Pulse, the World Bank’s economic update for the region.
Insurance firms are an important source of capital for investment on the African continent, according to Gilbert Anyetei, Alternative Investment Associate at RisCura.
In light of the recent volatile market conditions, the boards of Investec have decided not to pursue the global offer of approximately 10% of the combined total issued share capital of Ninety One.
Frontier funds are currently very underweight with just 1.8% in Morocco, but may increase their exposure when its weight in the MSCI Frontier Index increases, according to Renaissance Capital.
The Infrastructure Consortium for Africa (ICA) has announced a 24% leap in infrastructure financing in Africa in 2018, surpassing $100bn for the first time.
The demerger and independent listing of Investec Asset Management (IAM) remains on track for Q1 2020, subject to Investec Group shareholder approvals.
The African Development Bank has approved the conversion of the Bank-administered multi-donor trust fund SEFA into a “special fund”, to amplify its development impact by allowing it to access a wider range of financial instruments beyond the current scope of technical assistance.
Delta Property Fund, a specialist black-managed and substantially black-owned REIT with a significant sovereign underpin, has reported results for the six months ended August 31, 2019 reflecting continued headwinds facing the macro-economy and the commercial office sector.
Black-owned asset management firms are introducing product offerings that cater towards increased interest from institutional investors towards real assets such as infrastructure and private equity, according to Fatima Vawda, 27four Investment Managers Managing Director.
Kenya's Capital Markets Authority (CMA) has approved the issuance of the first unlisted green bond, to be issued by Acorn Project (Two) following the launch of the Policy Guidance Note on Green Bonds in February 2019.
MERJ Exchange, formerly Trop-X, has announced the first-ever official listing of a tokenized security on a fully compliant and regulated national stock exchange.
CrossBoundary Energy Access (CBEA), Africa’s first project financing facility for mini-grids, has announced its first transaction of $5.5m to finance 60 mini-grids in Tanzania.