Markets in Shanghai closed up today on news that the Chinese bullet train manufacturer Fujian Corp won the contract to connect Casablanca to Abidjan.
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.
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.
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.
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.
For too long, Nigerian leaders have acted as though the only decisions they had to make concerned who should get what.
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.
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.
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 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.
The US Federal Reserve is set to tighten its monetary policy for the first time after the 2008 global financial crisis.
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 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.
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.
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.
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.
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.
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.
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.
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 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.
Ethiopia plans to sell its first dollar bond as Africa’s fastest-growing economy exploits record demand for the continent’s debt.
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.
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.
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.
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.
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.
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’s sovereign wealth fund, the Nigeria Sovereign Investment Authority (NSIA), recently released a revamped version of its website.
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”.