FirstRand News

Standard Bank Starts Prime Brokerage on South Africa Hedge Funds Growth Bet

Standard Bank Starts Prime Brokerage on South Africa Hedge Funds Growth Bet

Standard Bank Group Ltd., Africa’s largest lender by assets, plans to start a prime brokerage next month to benefit from regulatory changes in South Africa it expects will boost the hedge-fund industry.

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.

Oscar Onyema, CEO, Nigerian Stock Exchange

Nigerian Stock Exchange to seek approval for public listing

The Nigerian Stock Exchange plans to seek approval from its members on March 30 to proceed with the process of becoming a publicly listed company.

Africa's best-performing hedge fund launches food-focused private equity fund

Africa's best-performing hedge fund launches food-focused private equity fund

Polar Star targets agriculture as food demand outstrips supply. Commodity hedge fund beats peers over five-year period.

Africa's banker of tomorrow

Armed with fintech and fueled by data: Africa's banker of tomorrow

Markets in Shanghai closed up today on news that the Chinese bullet train manufacturer Fujian Corp won the contract to connect Casablanca to Abidjan.

Africa's largest pension fund PIC is looking to increase stake in Barclays Africa

Africa's largest pension fund PIC seeks central bank approval to increase Barclays Africa stake

Africa’s biggest pension fund, Public Investment Corporation, has sought approval from South Africa’s central bank to raise its stake in Barclays Africa.

Shoppers walk past an Edgars store at a shopping center in Soweto, southwest of Johannesburg. Credit: Reuters/Siphiwe Sibeko

Bain in $1.5 billion South African Edcon debt for equity deal

Private equity firm Bain Capital has agreed a debt for equity swap deal valued at $1.5 billion for Edcon, the chief executive of the South African clothes retailer said last Tuesday.

Oscar Onyema, CEO, Nigerian Stock Exchange. Credit: naija247news.com

Nigerian Stock Exchange to expand range to lure investors, says CEO Oscar Onyema

The Nigerian Stock Exchange, Africa’s second-largest, is looking to attract investors spooked by a weakened currency and oil price by offering more products ahead of a possible listing.

Uber signs $14M car rental deal with South Africa's WesBank

Uber signs $14M car rental deal with South Africa's WesBank

Online taxi-hailing service Uber has agreed a 200 million rand ($14 million) deal with South African vehicle finance provider WesBank to rent cars to drivers who can’t afford to buy them, the companies said on Tuesday.

Women hold New Look shopping bags on Oxford Street in London, February 12, 2010. REUTERS/SUZANNE PLUNKETT

South Africa's Brait buys Britain's New Look for $1.2B

African investment heavyweight Brait SE (BATJ.J) said it will pay $1.2 billion for virtually all of budget clothes retailer New Look, giving it a substantial presence in Britain’s fiercely competitive fashion retail market.

South Africa's Brait to pay $1B for control of Richard Branson co-owned Virgin Active, in biggest M&A deal from Africa so far this year.

South Africa's Brait to pay $1B for control of Richard Branson co-owned Virgin Active, in biggest M&A deal from Africa so far this year

South African investment house Brait SE (BATJ.J) is to pay 682 million pounds ($1 billion) for a controlling stake in gym group Virgin Active, Brait said on Thursday, seeking to tap the growing health-conscious middle classes particularly in Africa and Asia.

South Africa fines Deutsche Bank $857,000 for rules breaches

South Africa fines Deutsche Bank $857,000 for rules breaches

Deutsche Bank AG was fined 10 million rand ($857,000) by South Africa’s banking regulator for failure to comply with rules covering the detection of property linked to terrorism and other crimes.

Barclays Africa Seeks Nigerian Investment Banking License

Barclays Africa Seeks Nigerian Investment Banking License

Barclays Africa Group Ltd.’s corporate and investment banking unit has approached Nigerian authorities for approval to convert its representative office to a fully fledged business in the continent’s biggest economy.

Royal Gardens Mall, Lekki, Lagos, Nigeria

Five private equity funds targeting real estate investments in Nigeria (Photos)

Africa focused Private Equity (PE) has developed impressively over the last two decades, in terms of volume, quality of transactions, and performance.

Ashburton Investments

Bahraini firms eyeing major push in Africa: Ashburton Investments

Africa’s attractiveness as an investment destination continues to grow in recognition, a leading investment expert has said.

Johannesburg Stock Exchange (JSE)

African equity is emerging a hot choice

Now is the time to invest in Africa. Today, the continent’s population of over 1 billion can boast some of the world’s strongest Gross Domestic Product (GDP) growth rates, urbanising communities and expanding consumer class — facts that are increasingly recognised by the Gulf Corporation Council member states.

Chris de Kock, CEO of FirstRand's WesBank unit

South Africa's FirstRand to offer vehicle finance in Nigeria

FirstRand Ltd. (FSR), Africa’s largest bank by market value, is to offer vehicle finance in Nigeria as the Johannesburg-based lender targets growth in the continent’s biggest economy.

Sizwe Nxasana, CEO, FirstRand

African Bank not a proxy for South Africa's banking industry: Sizwe Nxasana, CEO, FirstRand

FirstRand Ltd. (FSR), Africa’s biggest bank by market value, said unsecured lending was the least of its issues and criticized ratings companies for seeing failed African Bank Investment Ltd. as a proxy for the industry.

Sizwe Nxasana, CEO, FirstRand

FirstRand to invest $1B across Africa: Sizwe Nxasana, CEO, FirstRand (Video)

Africa’s biggest bank by market value FirstRand has set aside close to $1B for investment on the continent. CEO Sizwe Nxasana speaks on the FirstRand’s plans to extend its reach in Africa.

Celeste Fauconnier, Africa Macro Strategist, Rand Merchant Bank (RMB)

Nigeria Offers Best Opportunity for African Retail: Rand Merchant Bank (RMB)

Nigeria, Egypt and Ethiopia offer some of the best opportunities for retailers looking to invest in Africa, Rand Merchant Bank said.

Nedbank Group

South Africa's Nedbank eyes push into the rest of the continent

If Nedbank (NED) converts its $285m loan to West African banking group Ecobank into an equity stake, it will help the local bank catch up with its rivals, which have made significant inroads in the rest of Africa.

Sizwe Nxasana, CEO, FirstRand

FirstRand Targets $924M for Expansion in Africa

FirstRand Ltd. (FSR), Africa’s biggest bank by market value, is setting aside 10 billion rand ($924 million) for expansion across the continent as profit increases from regions outside its home market of South Africa.

Alexander Forbes, Sandton, South Africa

South Africa's Alexander Forbes raises $345M in IPO

South African pension manager Alexander Forbes on Friday priced its initial public offering at the middle of its planned range on Friday, raising 3.7 billion rand ($345 million) ahead of its return to the Johannesburg exchange.

Ghana Power Plant

FirstRand Unit to Fund $120 Million of Ghana’s Kpone Power Plant

South Africa’s FirstRand Ltd. (FSR) said its investment banking unit will finance as much as $120 million of Ghana’s $820 million Kpone power plant as lenders seek to benefit from African infrastructure projects.