JP Morgan Chase & Co. News

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.

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.

Jacob Zuma, President of South Africa

South Africa joins emerging markets wave of sovereign bond sales

South Africa is preparing its first sale of debt this year as global investors including BlackRock and Pimco declare that emerging markets represent a buying opportunity after three years of underperformance.

Jaime Dimon, Chairman, President & CEO, JP Morgan Chase

JPMorgan plans Africa expansion even as Ghana and Kenya regulators refuse entry

Jamie Dimon, chief executive officer of JPMorgan Chase & Co., which has offices in South Africa and Nigeria, said the bank wants a presence in more African countries to spur growth, even after regulators in Ghana and Kenya refused the lender entry.

Profits and pitfalls on the private equity path into Africa: Hurley Doddy, Co-Founder, Managing Director & Co-CEO of Emerging Capital Partners

Profits and pitfalls on the private equity path into Africa: Hurley Doddy, Founding Partner, Emerging Capital Partners

Africa is home to some of the world’s fastest growing economies and an increasing number of investors believe private equity could prove an effective way in.

Godwin Emefiele, Governor, Central Bank of Nigeria (CBN). Credit: theyesng.com

Nigeria's Central Bank Governor Emefiele to reconsider FX controls as demand drops

Nigeria’s central bank Governor Godwin Emefiele said he will consider easing restrictions on currency trading in Africa’s biggest oil producer if demand for foreign exchange drops further.

Kingsley Moghalu, former Deputy Governor of the Central Bank of Nigeria

Replace Nigeria's patrimony of oil with the politics of hope: Kingsley Moghalu, former Deputy Governor of the Central Bank of Nigeria

For too long, Nigerian leaders have acted as though the only decisions they had to make concerned who should get what.

World's largest brewer Anheuser-Busch InBev approaches South Africa's SABMiller for record industry acquisition

World's largest brewer Anheuser-Busch InBev approaches South Africa's SABMiller for record industry acquisition

Anheuser-Busch InBev NV said it intends to make an offer to acquire SABMiller Plc in a deal that would unite the world’s two biggest beermakers and control about half the industry’s profit.

JPMorgan

Nigerian regulators intervene after JP Morgan bond index action

Nigeria’s bond market regulator stepped in to avoid a market collapse on Thursday, bringing trades to a halt by forcing dealers to widen spreads after JP Morgan’s decision to remove Africa’s biggest economy from a major bond index.

The Naira weakened 20% to a record low of 206.32 per dollar in the year through Feb. 12

JPMorgan to remove Nigeria from emerging market bond indexes

JPMorgan Chase & Co. has excluded Nigeria from its local-currency emerging market bond indexes tracked by more than $200 billion of funds, after restrictions on foreign-exchange transactions prompted investor concerns about a shortage of liquidity.

Nigeria gets World Bank guarantee for power plant to boost supply by almost 10%

Nigeria gets World Bank guarantee for power plant to boost country's supply by almost 10%

Nigeria moved closer to finishing a power plant expected to boost the country’s supply by almost 10 percent when it signed a financing agreement with the World Bank on Friday.

US Federal Reserve Board building

How will US monetary tightening impact African markets?

The US Federal Reserve is set to tighten its monetary policy for the first time after the 2008 global financial crisis.

South Africa's Naspers returns to bond market to fund emerging markets internet acquisitions

South Africa's Naspers returns to bond market to fund emerging markets internet acquisitions

Naspers Ltd. sold bonds for the first time in almost two years to fund emerging-market Internet acquisitions, a strategy that’s transformed the media group into Africa’s biggest publicly traded company by market value.

JPMorgan hires HSBC trader Lebogang Moropa to start up South Africa prime brokerage business

JPMorgan hires HSBC trader Lebogang Moropa to start up South Africa prime brokerage business

JPMorgan Chase & Co. rehired a trader from HSBC Holdings Plc as the biggest U.S. bank sets up prime brokerage operations in South Africa for the first time.

Lamido Sanusi, Emir of Kano and former Governor of the Central Bank of Nigeria (CBN)

Blackstone and Black Rhino announce appointment of Lamido Sanusi, Emir of Kano and former Central Bank of Nigeria Governor, as Chairman of Black Rhino

Funds managed by Blackstone (NYSE:BX) and Black Rhino today announced that His Highness Emir Muhammad Sanusi II will join Black Rhino’s Board of Directors as Chairman.

UBS hires former JPMorgan Africa Head Brian Smith to lead South African unit

UBS hires former JPMorgan Africa Head Brian Smith to lead South African unit

Swiss bank UBS AG appointed Brian Smith, former co-head of JPMorgan Chase & Co’s African arm, as the country head of South Africa and head of investment banking for Sub-Saharan Africa, according to an internal memo.

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.

Eko Atlantic City, Lagos, Nigeria (Illustration)

Nigeria will be among world's 20 largest economies by 2030 (Infographic)

Take a peek at the new world that awaits us. Get ready for a new economic order. In the world 15 years from now, the U.S. will be far less dominant, several emerging markets will catapult into prominence, and some of the largest European economies will be slipping behind.

The Nigerian Stock Exchange's website home page

Boots on the Ground: Investing in Nigeria

I had initially planned to visit Nigeria in December, but postponed my trip until February due to concerns about Ebola. On my way to San Francisco International Airport, I contemplated the wisdom of my decision, having substituted greater political risk in light of the February 14th elections, for Ebola risk.

JPMorgan

Kenya sovereign debut opens path for Kenyan corporate Eurobonds: JPMorgan

Companies in Kenya, whose government raised $2.75 billion in debut Eurobond sales this year, may follow peers in South Africa and Nigeria with bond offerings in 2015, according to JPMorgan Chase & Co.

Miller beer by SABMiler

M&A activity heats up in Africa as investors bet on growth

Concerns on the scale of the Ebola crisis, current levels of political unrest and plunging commodity prices would have sent investors rushing out of Africa not long ago.

The Johannesburg Stock Exchange (JSE)

Africa: Now a major player in emerging markets financial services

The Africa Finance & Investment Forum 2014 represented something of a landmark for the oldest continent and its plans for the future. Held in Cologne, it was the first such conference to be held in Germany, Europe’s economic motor and a strategic partner in several African ventures.

Addis Ababa

Ethiopia: Africa's fastest growing economy plans to issue first US dollar sovereign bond

Ethiopia plans to sell its first dollar bond as Africa’s fastest-growing economy exploits record demand for the continent’s debt.

JP Morgan Chase & Co

JPMorgan Says Kenya May Be Part of Future Africa Expansion

JPMorgan Chase & Co. (JPM:US), which has more than 150 staff in South Africa, said it’s interested in establishing an office in Kenya “in time” as part of plans to expand on the continent.

CEO of Nigeria’s Sovereign Wealth Fund, Uche Orji: “It is really important that the human resources that we have stay—that is what will change Africa.

Africa's prospects rise with tide of returning professionals: Uche Orji, CEO & MD, Nigeria Sovereign Investment Authority

A rising tide is lifting optimism in Africa.It’s a tide of returning professionals that is bucking a counter trend of growth being dragged down by a cooling Chinese economy.

Bond Market Data

African local bonds - an untapped opportunity?

African dollar bonds are increasingly gaining mainstream acceptance as the continent’s brisk economic growth and low interest rates in the developed world help buoy demand for high-yielding debt.

JP Morgan

Nigeria Says Bond Due 2024 to Be Added to JPMorgan Emerging Markets Index

Nigeria’s 10-year bonds will be added to the JPMorgan Chase & Co.’s (JPM) benchmark emerging-market index series, the nation’s debt management agency said.

Renaissance Capital

Yvonne Ike, RenCap's West Africa CEO, quits for Bank of America

Yvonne Ike, chief executive officer of Renaissance Capital’s West African operations, has quit to join Bank of America (BAC:US) Corp. after almost three years with the brokerage owned by Russian billionaire Mikhail Prokhorov.

Bond Market

Kenya Taps Debt Market With Five and 10-Year US Dollar Bond Deal

The Republic of Kenya, rated B+ by Standard & Poor’s and Fitch, has opened books on a benchmark-sized offering of five and 10-year US dollar bonds, according to a source.

Tendai Musikavanhu, CFA, CEO & Co-Founder, One Stone Capital Group and Old Mutual Global Index Trackers

Well-Diversified Investment in the African Growth Story with Musikavanhu Tendai, CFA, CEO & Co-Founder, One Stone Capital Group and Old Mutual Global Index Trackers (Presentation)

Well-Diversified Investment in the African Growth Story with Musikavanhu Tendai, CFA, CEO & Co-Founder, One Stone Capital Group and Old Mutual Global Index Trackers

Nigeria Sovereign Investment Authority (NSIA)

Nigeria's $1B Sovereign Wealth Fund Releases New Website

Nigeria’s sovereign wealth fund, the Nigeria Sovereign Investment Authority (NSIA), recently released a revamped version of its website.

Goodluck Jonathan

President Goodluck Ebele Jonathan ("GEJ") of Nigeria is clueless, incompetent, and callous: 35 reasons why this is a big lie

The Economist magazine recently published an article on Nigeria in which it described the government of President Goodluck Ebele Jonathan (“GEJ”) as “A clueless government”.