Africa
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JPM securitization banker leaves — Goldman Brexiter quits for politics — Balax enrols in fintech course
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Steinhoff International continued to dispose of assets this week with a R4.8bn (€293m) sale in KAP Industrial Holdings, the South African industrial company, with the company expected to shed more holding to meet its subsidiaries' funding requirements. -
Naspers, the South African technology conglomerate cheered European equity markets this week as it announced it would list its international assets in a new company on the Euronext Amsterdam. The company said that the deal would just be a spin-off transaction but sources close to the situation are not writing off the possibility of an IPO as well.
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Investec veteran Glynn Burger is stepping down.
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Rothschild & Co has appointed Martin Kingston as executive chairman of its board in South Africa, among other personnel moves in the country.
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Three sub-Saharan African credits hit screens this week after months of capital markets absence from the continent, riding a boost from the Federal Reserve and pulling off impressive transactions with more waiting in the pipeline.
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Kosmos Energy hit screens for its planned dollar benchmark on Thursday, benefitting from the dovish tone of the US Federal Reserve’s meeting on Wednesday.
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Ghana Cocoa Board has signed its first sustainability-linked loan facility, kick-starting this year’s environmental, social and governance financing in emerging markets. The deal emerges as a trio of global trade bodies have launched a set of standards to codify this fast-growing market segment, which some financiers are still trying to come to terms with. Mariam Meskin and Mike Turner report.
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Ghana became the first Sub-Saharan African sovereign to access the bond market this year on Tuesday, printing tranches of dollar paper on Tuesday and receiving one of the largest order books ever for a bond from the region.
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Some investors are beginning to fear that the rally in emerging markets is running out of rope. Threats to Chinese growth could carry over and damage the prospects of emerging markets economies, according to Jupiter Asset Management.
