BIZweek n°374 24 déc 2021
BIZweek n°374 24 déc 2021
  • Prix facial : gratuit

  • Parution : n°374 de 24 déc 2021

  • Périodicité : hebdomadaire

  • Editeur : Capital Publications Ltd

  • Format : (260 x 370) mm

  • Nombre de pages : 7

  • Taille du fichier PDF : 1,7 Mo

  • Dans ce numéro : statistique du commerce international.

  • Prix de vente (PDF) : gratuit

Dans ce numéro...
< Pages précédentes
Pages : 4 - 5  |  Aller à la page   OK
Pages suivantes >
4 5
VENDREDI 24 DÉCEMBRE 2021 BIZWEEK ÉDITION 374 ACTA PUBLICA TRENDS IN MERGERS & ACQUISITIONS ACTIVITY Global deal value and volume reaching an all-time high at the end of Q3 2021 Johannesburg Corporate Partner, Patrick Leyden, was recently interviewed on Business Day TV and provided insight into global and domestic Mergers & Acquisitions (M&A) activity as both deal value and volume approach all-time highs in 2021 Patrick Leyden, Corporate Partner at Herbert Smith Freehills LLP, provided an overview of key factors driving global and domestic Mergers & Acquisitions (M&A) and highlighted that the global M&A market reached record levels towards the end of Q3, primarily due to investors having a better understanding of the economic uncertainty around COVID-19 and institutions looking to capitalise on the concomitant growth opportunities. In addition, there is an abundance cheap capital in the market due to low-interest rates as wellas an increased interest in private capital. Noticeably over the lasteighteen months (more so internationally, than domestically) is the listing of a significant number of special purpose acquisition companies («SPACs»). From Q1 to Q3, SPACs have reportedly raised more than $100 billion worldwide which must be used to make mandated acquisitions within a limited period of time. SPACs are also competing with traditional corporate capital and private equity firms for opportunities which has, in some cases, resulted in inflated acquisition prices (and thus deal value). Africa has experienced an approximate 16 per cent increase in deal value growth year-on-year which is lagging behind other regions such as Europe (up by 34 per cent), the USA (up by 40 per cent) and the Asia-pacific region (up by 45 per cent). While Africa is behind the international trend, it may well close this gap relatively quickly as investor confidence returns to emerging markets. South Africa has seen a significant resurgence in M&A activity this year. While analysts suggest that, at the end of Q3, deal value has more than doubled year-onyear, this is of course coming off a record low base of activity in 2020. The UK, Europe, USA and China remain significant contributors to foreign direct investment into South Africa and Africa more generally. Many South African domiciled public companies have been focused on diversifying domestic holdings with 29 deals into the rest of Africa, 20 in Europe and 20 in the United Kingdom. This global momentum is predicted to continue into 2022. Domestic M&A is likely to follow suit but the effect of the recent civil unrest, return to load-shedding and increased government intervention on deals, remains to be seen. Bank One élue « Best Trade Finance bank in Mauritius» par Global Trade Review Bank One a reçu le prestigieux titre de «Best Trade Finance Bank in Mauritius » dans la catégorie « Afrique » par Global Trade Review (GTR). Chaque année, GTR célèbre les meilleures banques de financement commercial en Afrique subsaharienne et se base principalement sur les données recueillies de professionnels du secteur ainsi que celles soumises par les participants à GTR. GTR récompense les efforts accomplis par Bank One pour la structuration du financement du commerce international et les solutions ciblées mises en place pour relever les défis propres à l’Afrique. « Bank One se positionne comme un partenaire bancaire solide et fiable ‘from Africa, for Africa’. Ce titre reconnaît notre capacité à comprendre les défis auxquels sont confrontés nos clients et à proposer des solutions adaptées à leurs besoins. Nous continuerons à développer nos activités en Afrique et à apporter une réelle valeur ajoutée en répondant aux besoins du marché », déclare Mark Watkinson, CEO de Bank One. ‘World Without Waste’ : Une initiative conjointe de Coca-Cola et PhoenixEarth Initiative Dans la cadre de la mise en œuvre de sa stratégie de développement durable, Coca-Cola par le biais de son programme World Without Waste réitère son engagement pour le bien-être de l’ile Maurice. Avec l’appui de partenaires tels que Phoenix Beverages Group à travers PhoenixEarth Initiative, We-Recycle, New Invaders Club, ainsi que Yes No Solutions, une organisation non-lucrative qui vise à sensibiliser les populations locales a¬n de combattre la pollution des déchets plastiques, Coca-Cola souhaite renforcer des consommateurs « éco-responsables ». Les 18 et 19 décembre 2021 dernier, Coca-Cola avec l’aide de ses partenaires a organisé une campagne de sensibilisation auprès des habitants de la région de l’ouest (Albion, Bambous, Flic-en-Flac, Tamarin), la région de Rivière Noire, la région du sud-est, passant par Rose-Belle, New Grove et Mahébourg. Yeo’s obtient le label ‘Made in Moris’Oriental Foods Ltd, filiale d’ABC Foods, a récemment obtenu le label Made in Moris pour la marque Yeo’s, très célèbre marque de sauces asiatiques fabriquée localement avec l’expertise de la maison mère Yeo Hiap Seng. L’obtention de ce label fait suite à un audit exigeant réalisé par SGS Mauritius, entreprise spécialisée dans l’inspection, du contrôle, de l’analyse et de la certification, pour le compte de l’Association des Manufacturiers Mauriciens, créateur du label Made In Moris. Pour Paul Ah Lim, General Manager d’ABC Foods  : « L’obtention de ce label, qui représente un travail de longue haleine, vient témoigner de notre savoir-faire et du niveau de qualité des sauces de soja de la marque Yeo’s, qui sont produites par fermentation naturelle, sans ajout de glutamate de sodium ». En effet, les produits certifiés Made in Moris sont reconnus pour leur conformité à des critères spécifiques qui sont définis par un cahier des charges stricte qui prend en considération plusieurs éléments dont l’innovation, la protection de l’industrie locale et les standards d’hygiène. 4
VENDREDI 24 DÉCEMBRE 2021 BIZWEEK ÉDITION 374 AUTHORS : TOBIAS ADRIAN, Financial Counsellor and Director, IMF’s Monetary and Capital Markets Department DONG HE, Deputy Director of the Monetary and Capital Markets Department ADITYA NARAIN, Deputy Director in the IMF’s Monetary and Capital Markets Department FINANCIAL SYSTEM POST SCRIPTUM Global Crypto Regulation Should be Comprehensive, Consistent and Coordinated The International Monetary Fund’s (IMF) mandate is to safeguard the stability of the international monetary and financial system, and crypto assets are changing the system profoundly. Crypto assets and associated products and services have grown rapidly in recent years. Furthermore, interlinkages with the regulated financial system are rising. Policymakers struggle to monitor risks from this evolving sector, in which many activities are unregulated. In fact, we think these financial stability risks could soon become systemic in some countries. While the nearly $2.5 trillion market capitalization indicates significant economic value of the underlying technological innovations such as the blockchain, it might also reflect froth in an environment of stretched valuations. Indeed, early reactions to the Omicron variant included a significant crypto selloff. Financial system risks from crypto assets Determining valuation is not the only challenge in the crypto ecosystem : identification, monitoring, and management of risks defy regulators and firms. These include, for example, operational and financial integrity risks from crypto asset exchanges and wallets, investor protection, and inadequate reserves and inaccurate disclosure for some stablecoins. Moreover, in emerging markets and developing economies, the advent of crypto can accelerate what we have called «cryptoization»—when these assets replace domestic currency, and circumvent exchange restrictions and capital account management measures. Such risks underscore why we now need comprehensive international standards that more fully address risks to the financial system from crypto assets, their associated ecosystem, and their related transactions, while allowing for an enabling environment for useful crypto asset products and applications. The Financial Stability Board, in its coordinating role, should develop a global framework comprising standards for regulation of crypto assets. The objective should be to provide a comprehensive and coordinated approach to managing risks to financial stability and market conduct that can be consistently applied across jurisdictions, while minimizing the potential for regulatory arbitrage, or moving activity to jurisdictions with easier requirements. Crypto’s cross-sector and cross-border remit limits the effectiveness of national approaches. Countries are taking very different strategies, and existing laws and regulations may not allow for national approaches that comprehensively cover all elements of these assets. Importantly, many crypto service providers operate across borders, making the task for supervision and enforcement more difficult. Uncoordinated regulatory measures may facilitate potentially destabilizing capital flows. Standard-setting bodies responsible for different products and markets have provided varying levels of guidance. For example, the Financial Action Task Force has issued guidance for a risk-based approach to mitigating financial integrity risks from virtual assets and their service providers. Actions by other standard-setting bodies range from broad principles for some types of crypto assets to rules for mitigating exposure risks of regulated entities and settingup information exchange networks. While useful, these efforts aren’t sufficiently coordinated towards a global framework for managing the risks to financial and market integrity, financial stability, and consumer and investor protection. Making regulation work at the global level The global regulatory framework should provide a level playing field along the activity and risk spectrum. We believethis should, for example, have the following three elements: Crypto-asset service providers that deliver critical functions should be licensed or authorized. These would include storage, transfer, settlement, and custody of reserves and assets, among others, similar Not so stable hvesters in crypte esets have enjoyed gains while also enduring high volatility in prices. Icrypm.sets market cap0alee0D SUS teillionl 30 25 32 13 D5'hemoins 111 Dire,n f En. 55,centr., « ED,or Qther Apr20 >120 On20 Dr 21 Dpr21 Juin Ort.21 Soute Comecko IMF to existing rules for financial service providers. Licensing and authorization criteria should be clearly articulated, the responsible authorities clearly designated, and coordination mechanisms among them well defined. Requirements should be tailored to the main use cases of crypto assets and stablecoins. For example, services and products for investments should have requirements similar to those of securities brokers and dealers, overseen by the securities regulator. Services and products for payments should have requirements similar to those of bank deposits, overseen by the central bank or the payments oversight authority. Regardless of the initial authority for approving crypto services and products, all overseers—from central banks to securities and banking regulators—need to coordinate to address the various risks arising from different and changing uses. Authorities should provide clear requirements on regulated financial institutions concerning their exposure to and engagement with crypto. For example, the appropriate banking, securities, insurance, and pension regulators should stipulate the capital and liquidity requirements and limits on exposure to different types of these assets, and require investor suitability and risk assessments. If the regulated entities provide custody services, requirements should be clarified to address the risks arising from those functions. Some emerging markets and developing economies face more immediate and acute risks of currency substitution through crypto assets, the so-called cryptoization. Capital flow management measures will need to be fine-tuned in the face of cryptoization. This is because applying established regulatory tools to manage capital flows may be more challenging when value is transmitted through new instruments, new channels and new service providers that are not regulated entities. There is an urgent need for cross-border collaboration and cooperation to address the technological, legal, regulatory, and supervisory challenges. Settingup a comprehensive, consistent, and coordinated regulatory approach to crypto is a daunting task. But if we start now, we can achievethe policy goal of maintaining financial stability while benefiting from the benefits that the underlying technological innovations bring. Crypto assets are potentially changing the international monetary and financial system in profound ways. The IMF has developed a strategy in order to continue to deliver on its mandate in the digital age. The Fund will work closely with the Financial Stability Board and other members of the international regulatory community to develop an effective regulatory approach to crypto assets. [SOURCE : International Monetary Fund – 9 December 2021] 5

1 2-3 4-5 6-7 7


Autres parutions de ce magazine  voir tous les numéros


Liens vers cette page
Couverture seule :


Couverture avec texte parution au-dessus :


Couverture avec texte parution en dessous :