Economy

Mats Granryd, Director General, GSMA

Mobile contributes $110 billion to Sub-Saharan African economies: Mats Granryd, Director General, GSMA

Sub-Saharan Africa is, and will continue to be, the fastest growing mobile market in the world.


GT Bank, Nigeria's biggest bank by market value, has raised the maximum monthly dollar spend limit to $1,000 from

Nigeria Banks Boosting Dollar Spending as Liquidity Improves

Nigerian banks are boosting dollar-spending limits for payment cards denominated in local currency as much as tenfold because of improved foreign-exchange supply.

Is Nigeria's $300 million diaspora bond a worthwhile investment

Is Nigeria's $300 million diaspora bond a worthwhile investment?

Having been in the pipeline for some time now, Nigeria’s $300m London Stock Exchange-listed diaspora bond went down very well with investors, being 130% oversubscribed.

Lagos, Nigeria

Fact of the Day: Nigeria to be 3rd most populous country by 2050 (Infographics)

By 2050 around 2.2 billion people could be added to the global population and more than half of that growth will occur in Africa.

Nigeria has raised $300 million from its first ever diaspora bond

Nigeria has raised $300 million from its first ever diaspora bond

Nigeria’s diaspora population sent home $21 billion in remittances in 2015 and the government wants in on some of that cash.

Godwin Emefiele, Governor, Central Bank of Nigeria

Investors cheer Nigeria currency shift, want more

Nigeria’s recent tentative steps to free up its naira currency, particularly via a new trading window, have gone down well with some adventurous stock and bond investors who are cautiously returning to the markets they fled two years ago.

Jacob Zuma, President of South Africa

South Africa falls into second recession in a decade

South Africa has fallen into recession for the first time in eight years after economic growth shrank by 0.7% between January and March.

Addis Ababa, Ethiopia

Africa's economic growth in 2016 was driven by East Africa

While the continent’s major economies were hit by the fall in commodity prices in 2016, Africa retained its position as the second-fastest growing continent globally recording an average of 2.2% GDP growth.

Novare Lekki Mall (Illustration)

African Property Delivers for Private Equity Investors: Derrick Roper, CEO, Novare Equity Partners

In Sub-Saharan Africa, private equity funds offer investors access to competitively priced assets that have strong growth potential in a region where stock exchanges are still developing.

Gerald Gondo, Business Development Executive, RisCura Africa. Credit: afsic.net

African fixed income investments coming into their own: Gerald Gondo, Business Development Executive, RisCura Africa

Given the continued global search for yield and growth in an increasingly low-yield world, debt markets in Africa should and will attract increasing attention from institutional investors.

Rate cuts & healthy FX reserves pave way for next bull run in Africa's markets

Rate cuts & healthy FX reserves pave way for next bull run in Africa's markets: Ryan Hoover, Portfolio Manager, Africa Capital Group

The sorry state of South African governance may be dominating headlines, but a closer inspection of Africa’s financial news reveals a heartening trend in the continent’s frontier economies.

Media Eghbal, Head of Countries' Analysis, Euromonitor International. Credit: LinkedIn

Top 3 Largest Markets in Sub-Saharan Africa (Audio): Media Eghbal, Head of Countries' Analysis, Euromonitor International

Sub-Saharan African economic growth is expected to pick up in 2017 after reaching the lowest level in 22 years in 2016.

Chevrolet Volt

Chevy Volt's designer, Jelani Aliyu, has been appointed boss of Nigeria's automobile agency (Infographic)

Nigeria’s government has long talked about diversifying its oil-dependent economy but it’s actions have not always matched the bluster.

Mthuli Ncube, Head of Quantum Global Research Lab

Here are the top & bottom 10 investment destinations in Africa, according to Quantum Global (Infographic)

Botswana is the most attractive economy for investments flowing into the African continent, according to the latest Africa Investment Index 2016 by Quantum Global’s independent research arm, Quantum Global Research Lab.

Shoprite

Africa growth to rebound in 2017: Africa Capital Group (Infographic)

After the U.S. election in November, many Africa investors became concerned that a move toward a more isolationist trade policy in the U.S. would hinder business, trade and capital flows to and from Africa.

Johannesburg Stock Exchange

The Case for Bargain Hunting in South Africa

Charles Roth, of Thornburg Investment Management, has made the case that markets have over-reacted to the recent political shake-up in South Africa, driving asset prices below their underlying value.

Jacob Zuma, President of South Africa

South African Stocks Poised for Long-Term Gains Despite Zuma's Maneuverings: Ryan Hoover, Portfolio Manager, Africa Capital Group

Late last month, South Africa’s increasingly unpopular president, Jacob Zuma, unceremoniously sacked his well-regarded Finance Minister, Pravin Gordhan.

Fitch downgrades South Africa's credit rating to junk status

Fitch downgrades South Africa's credit rating to "junk" status

Ratings agency Fitch downgraded South Africa’s credit rating to sub-investment grade on Friday.

Zuma has survived several no-confidence votes in recent years. Credit: Rogan Ward/Reuters/Al Jazeera

S&P downgrades South Africa's credit rating to junk

Credit rating agency Standard and Poor’s (S&P) has downgraded South Africa’s rating to junk status.

President Jacob Zuma is coming under increasing pressure to step down

South Africa unions to Zuma: Time to go

South Africa’s powerful trades union federation Cosatu has called for President Jacob Zuma to step down.

Pravi Gordhan, South Africa's former Finance Minister

South Africa's President Zuma sacks Finance Minister Pravin Gordhan in major cabinet reshuffle

Major cabinet reshuffle comes as calls for South African president to quit grow.

South Africa’s former Finance Minister Pravin Gordhan (Centre) arrives at the parliament to deliver the annual budget speech in Cape Town, South Africa in February. The minister was replaced by President Jacob Zuma on March 31, 2017, as part of a cabinet shuffle that changed 10 of the country’s 35 ministers. Credit: Schalk van Zuydam/AP/The National

South Africa's President changes 10 of the country's 35 ministers in cabinet shuffle

South African president Jacob Zuma faced a widening public backlash from senior members of the ruling African National Congress including his deputy, Cyril Ramaphosa.

Aigboje Aig-Imoukhuede,Nigeria, President of the Nigerian Stock Exchange (NSE) Council

The Nigerian Stock Exchange gets green light for public listing

The Nigerian Stock Exchange (NSE) has been given a green light by its members to become a publicly listed company, it said on Thursday.

Lamin Manjang, Chairman of the Kenya Bankers Association (KBA)

Kenya sets sights on green bonds after mobile phone issue

Kenya aims to issue its first ‘green’ bond this year, the initiative’s backers said on Friday, bolstering the nation’s reputation for financial innovation after the government launched the world’s first mobile phone bond earlier this month.

Nigeria's President Muhammadu Buhari (L) and Vice President Yemi Osinbajo

The Economist explains: The demand for Nigerian debt

Nigeria’s economy shrank by 1.5% in 2016, its first annual contraction in 25 years.

Top 3 Mortgage Growth Markets in 2017 - Egypt, Algeria and Nigeria

Egypt, Algeria and Nigeria are the top 3 mortgage growth markets in 2017: Euromonitor

Euromonitor International has identified the top three markets globally in 2017 by fastest growth in mortgaged households.

WSJ Africa Bureau Chief Joe Parkinson (Left), Kenya's Central Bank Governor Patrick Njoroge (Center) and Nigeria's Sovereign Wealth Fund's CEO Uche Orji (Right)

Kenya and Nigeria Officials Have Different Economic Outlooks (Videos)

Kenya’s Central Bank Governor Patrick Njoroge and Nigeria’s Sovereign Wealth Fund’s CEO Uche Orji discuss their nations’ growth prospects.

Paul Kagame, President of Rwanda. Credit: WSJ

Rwanda's President on Africa's Fate in an Age of Trump-Style Populism (Videos)

Rwanda’s economy is one of Africa’s best performers, and many say President Paul Kagame has played a big role in that.

Akinwumi Adesina, President of the African Development Bank. Credit: WSJ

The five keys to a more prosperous Africa: Akinwumi Adesina, President of the African Development Bank

Akinwumi Adesina, President of the African Development Bank, lays out his vision for economic growth and a better life for Africans.

President of the Federal Republic of Nigeria Muhammadu Buhari (L) and Chinese President, Xi Jinping (R) shake hands during the signing ceremony at Great Hall of the People. Credit: Forbes/Kyodo News/Getty Images

How China's $60B for Africa will drive global prosperity: Amy Jadesimi, MD, LADOL

As a long-term investor and developer of infrastructure in West Africa, I have been tracking China’s courtship of African nations over the last decade.

Private equity in Africa steps up a gear in 2016

Private equity in Africa steps up a gear in 2016: African Private Equity and Venture Capital Association (AVCA)

Private equity investment in Africa continues to go from strength to strength, evidenced by a new report from the African Private Equity and Venture Capital Association (AVCA).

Aliko Dangote, CEO, Dangote Group

Aliko Dangote: In for the long haul

Aliko Dangote, Africa’s richest man, is optimistic that the only place to invest in today is Africa.

Africa Rising - What Investors Want to Hear

Africa Rising: What Investors Want to Hear (Infographic)

The “Africa Rising’’ narrative has been put on hold, due to a couple of macroeconomic factors impacting the economic growth of the giant countries of Africa.

Kemi Adeosun, Nigeria's Minister of Finance

Nigeria to tap private capital, boost spending on infrastructure

Nigeria aims to rise the proportion of government spending devoted to infrastructure to 30 percent from 10 percent and to mobilize private capital for additional funding.

Yemi Osinbajo, Nigeria's Vice President

Buhari's sick leave re-energizes Nigeria's presidency

When protesters marched on Nigeria’s presidential villa earlier this month to complain about a biting recession, they were not repelled by baton-wielding policemen, the usual fate for anyone arriving uninvited at the gate of the country’s power center.

Nigeria asks Goldman and Stanbic to advise on diaspora bond debut

Nigeria asks Goldman and Stanbic to advise on diaspora bond debut

Nigeria has asked Goldman Sachs and the local unit of South Africa’s Standard Bank to advise it on the sale of a debut “diaspora bond” targeted at Nigerians living abroad, Stanbic IBTC Bank said on Monday.

Nairobi, Kenya. Credit: Africa Capital Group/Ninara/Flickr

Africa to Rebound in 2017: Peter C. Thoms, CFA, Founder, Africa Capital Group

2016 was a tumultuous year that offered Africa investors many opportunities to make mistakes.

Nakumatt just sold a 25% slice of itself to an investment fund. Credit: qz.com/Reuters/Thomas Mukoya

Nakumatt and Shoprite are attracting interest from international investors for their fast-growing markets (Infographic)

The investment case for Africa requires taking the long view, especially when it comes to thinking about serving consumers on the continent.

Arif Naqvi, Group CEO, Abraaj Group. Credit: forbes.com

Abraaj CEO says Africa is core to investment plan

Middle Eastern private equity investor Abraaj Group says Africa is core to its investment strategy, as it bets the continent’s rising middle class will consume more goods.

Arif Naqvi, Group CEO, Abraaj Group. Credit: Bloomberg

Private equity firm Abraaj is interested in buying Barclays Africa (Infographics & Video)

Abraaj Group, the private equity firm that invests across emerging markets, is interested in buying a stake in Barclays Plc’s South African business.

Aliko Dangote, President, Dangote Group. Credit: CNBC Africa

I will build Dangote Group into a $100B business, I still have plans to buy Arsenal, says Africa's richest man Aliko Dangote (Video)

“If you are in Africa or in Nigeria for the short-term, then you shouldn’t be there,” says Aliko Dangote, the President of Dangote Group.

Edwin Dande, Managing Partner & CEO, Cytonn Investments. Credit: capitalfm.co.ke

Kenya set to remain a hotspot for private equity investments in East Africa

According to Cytonn Investments, Kenya will remain a hotspot for private equity (PE) with global deal makers expected to continue to be attracted by the country’s improved business environment.