Old Mutual Investment Group has announced a deal to increase its overall effective equity stake in African agriculture investment group, UFF African Agri Investments, to 49%. The partnership will see the strengthening of a longtime relationship between the two companies, with investment opportunities of up to $500 million into African farmland envisaged over the next three years.
On April 8th 2016 BTCL became Botswana’s first listed telecommunications company after successfully concluding an IPO that raised BWP462 million through the sale of 462,000,000 shares at BWP1.00 per share. The offer, which was only open to locals, began on January 11th 2016 and closed on March 4th 2016. On the first day of trade the shares rose +30% to close at BWP1.30 per share.
Moody's has confirmed South Africa’s credit rating at Baa 2 and adjusted the outlook from stable to negative.
The ratings agency said the ratings reflect the view that the country is likely approaching a turning point after several years of falling growth.
The negative outlook speaks to the implementation risks associated with the structural and legislative reforms that government, business and labor recently agreed on, in order to restore investor confidence.
Zimbabwe's government plans to issue treasury bills to creditors of Hwange Colliery Company and reschedule some of its $160 million of debt as part of efforts to return the coal miner to profitability, the minister of mines said on Friday.
Hwange, in which Zimbabwe's government is the biggest shareholder with a 37 percent stake, is the nation's second-largest coal producer and supplies coke to Zimbabwe Power Company.
The rand fell further at midday on Monday in quiet trade as the market awaited the US Federal Reserve’s rate decision on Wednesday.
At 11.30am‚ the rand was trading at R14.5143 to the dollar from R14.4067 at Friday’s close. It was at R16.3346 against the euro from R16.1626 previously‚ and at R20.9354 against the pound from R20.8413 previously.
FTI Consulting’s third yearly survey assessing investor sentiment in Africa has revealed that, while international business is keen on pursuing opportunities in Africa, perceptions of the risks involved increased 10%. Just fewer than 60% of the respondents considered business opportunities in Africa as “important but risky”, compared with 49% reported last year, while 82% believed that there was a lot of talk, but little change to improve investment environments in Africa.