Tourism should be an easy win for emerging market (EM) and frontier market (FM) economies with weakened currencies, and cheap jet fuel; an opportunity that we think is being missed.
RenCap’s Global Economist Charles Robertson discusses frontier markets and the economic outlook for various nations in Africa.
We have always maintained that Nigeria’s future does not lie with oil, and are encouraged by the high quality government team that is pushing hard for diversification.
These are the global economic realities that will continue to shape African markets in 2016. Strong US dollar. Low oil and commodity prices. Slowing Chinese growth.
Nigeria, whose currency lost almost 8 percent against the dollar this year, would benefit from letting market forces have more say over its exchange rate, according to Albert Essien, chief executive officer of Ecobank Transnational Inc.
Muhammadu Buhari will bring change as the new president of Nigeria, but investors shouldn’t expect a fast economic turnaround.
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.
The IMF’s latest World Economic Outlook makes sobering reading for most of the world.
Marriott International Inc. (MAR) may build 40 to 50 hotels in Nigeria, South Africa and Egypt each by 2020 to benefit from a surge of travelers, said Alex Kyriakidis, the chain’s president for the Middle East and Africa.
Where will you find the fastest-growing economies in the world this year?
Nigerian lenders are gearing up to sell the most debt in four years to bolster cash reserves, taking advantage of a drop in borrowing costs before the central bank increases how much capital they need to hold.
On Wednesday, some of Africa’s most influential investors gathered in Sandton to discuss the continent’s economic future – and, of course, how to profit from it.
IN 2001 MTN, a fledgling telecoms company from South Africa, paid $285m for one of four mobile licences sold at auction by the government of Nigeria.
Nothando Ndebele, head of African research for Renaissance Capital, has quit three weeks after Yvonne Ike, chief executive officer for the brokerage’s West African operations, left to join Bank of America Corp.
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.
Shareholders in Lafarge Wapco , the Nigerian unit of French cement maker Lafarge , on Wednesday approved a $1.35 billion deal combining its Nigerian businesses with Lafarge’s wholly-owned South African subsidiary.
Shares in Oando Plc rose the maximum 10 percent allowed on Nigeria’s stock exchange on Friday after the oil firm said it had won government approval to complete a $1.65 billion acquisition of ConocoPhillips’ Nigerian assets.
Spolight on Africa with Charles Robertson, CFA, Global Chief Economist, Renaissance Capital. European Investment Conference, CFA Institute, “Beyond Austerity: Opportunities for European Investors in the Global Market”, 14–15 November 2013, London, United Kingdom
Africa has its challenges, from corruption to political risk, yet the continent has changed and will continue to evolve.