Africa

Renaissiance Capital has hired a new vice president of financial services research at its branch in Cairo.

The hopes of emerging markets participants proved well founded on Wednesday when US Federal Reserve chair Jerome Powell pulled back from the aggressive trajectory of rate hikes previously promised.

The Middle East and North Africa region will provide a large chunk of emerging market bond supply in 2019, investors said this week. The region provides excellent value, in spite of fluctuations in the oil price.

DWF, the UK law firm, has filed paperwork on an initial public offering in London, but many in equity capital markets are predicting that the the city’s largest deals will come from the emerging markets.

Georges Elhedery will be moving from Dubai to London in order to take up a new role as head of global markets at HSBC. He replaces Thibaut de Roux, who reportedly left in September after an accusation of inappropriate conduct.

CDC, a development financial institution, has hired a former regional head of global banking at Standard Chartered to mobilise investment in developing countries.

Egypt is revamping its capital markets presence, lining up a debut in the green bond market, a first deal in an Asian currency, and dollar and euro benchmarks all by the end of its fiscal year in June.

Renaissance Capital has hired a former Morgan Stanley managing director to the roles of chairman of the board of directors for South Africa and head of investment banking for Africa. The hire marks the latest development in the bank’s push into Africa.

African equity capital markets deals could bolster emerging market issuance figures this year and provide a post-Brexit boost for London where some firms are tipped to dual-list.

Ghanaian banks’ avenues for dollar funding could be set to grow, after one of the country’s financial institutions entered into a total return swap with Société Générale that soothed over bottlenecks in its repo markets.

An equity capital markets banker at Rand Merchant Bank has left the bank to study for an MBA at Insead.

Mauritius Commercial Bank is looking for a syndicated loan, in a rare deal to pass across London desks so far this month that is not a refinancing exercise.