Islamic finance can act as the catalyst in mobilizing funding into Africa, thereby resulting in economic growth and sustainable development, according to a report by the Islamic Corporation for the Development of the Private Sector (ICD).
Recent weakness in the Egyptian market is leading investors to look again for opportunities, but currency risks remain the major obstacle, according to Simon Kitchen, Director of MENA Strategy at EFG Hermes.
Aberdeen Asset Management has said it will acquire 100% ownership of Advance Emerging Capital (AEC), a London based specialist investment manager with over $633m (£409m) across a range of investment funds.
With the continued weakening of the South African Rand, offshore allocations should be the foundation of any investment strategy for South African investors, according to Windall Bekker, Senior Vice President of PineBridge Investments.
The expulsion of Nigeria from JPMorgan’s Government Bond Index is an embarrassment to the economic reputation of the Nigerian Government, according to Ayo Salami, CIO of Africa Liquid Strategies at Duet Asset Management.
The African continent loses over $50bn dollars each year as a result of the illicit flow of funds, former president of South Africa Thabo Mbeki has said.
The new Pension and Provident Fund Act that is currently in draft form is set to reshape the Zimbabwean retirement industry, according to RisCura.
Botswana and Namibia will be included in the AfDB/ AFMI Bloomberg African Bond Index (ABABI) in October 2015, the African Development Bank has announced.
The Johannesburg Stock Exchange (JSE), the continent's largest exchange, has launched JSE Eris Interest Rate Swap (IRS) Futures, based on the Johannesburg Interbank Agreed Rate (JIBAR) and denominated in South African Rand.
The AfDB-managed Africa Climate Change Fund (ACCF) has approved over $800,000 in funding to support Mali with preparatory funding to advance its low-carbon, climate resilient development agenda, and to strengthen data and information on climate change vulnerabilities and opportunities for 54 African countries.
The recent happenings in China – the yuan devaluation, weak manufacturing Purchasing Managers’ Index figures, stock market turmoil, and interest rate cuts – will have a notable impact on Sub-Saharan African countries, according to NKC African Economics.
The Nigerian Stock Exchange has launched a new listing platform - the Premium Board and the associated Premium Board Index, keeping with its commitment to promoting Africa’s biggest companies.
Business Partners (BUSINESS/PARTNERS) has launched a R250m ($19.36m) Women in Business Fund, aimed at increasing access to finance for female entrepreneurs in South Africa.
Discussions are currently underway between market participants in Nigeria, Kenya and South Africa to launch the cross listing of Exchange Traded Funds (ETFs), a move afoot that will lead to improved liquidity on Africa’s exchanges.
