MTN, Wendel Say IHS Towers Kickstarts Second Attempt at IPO

MTN, Wendel Say IHS Towers Kickstarts Second Attempt at IPO

JOHANNESBURG (Capital Markets in Africa) – IHS Holding Ltd. shareholders said the pan-African telecom-tower company has revived plans for an initial public offering, almost a year after abandoning a previous effort. MTN Group Ltd., Africa’s largest wireless carrier, and French investment firm Wendel SE both said Friday that IHS has filed a registration statement relating to a potential New York IPO. The timing, number of shares to be offered and price range haven’t been determined, Johannesburg-based MTN…

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West African Leaders Call for Guinea Elections in Six Months

West African Leaders Call for Guinea Elections in Six Months

GUINEA (Capital Markets in Africa) – West African leaders are calling for Guinea’s new military rulers to hold an election in six months, opting for a tight deadline after a series of coups in the region. Ghana’s President Nana Akufo-Addo will lead a delegation from the Economic Community of West African States to Guinea within the next 48 hours to meet the soldiers who ousted President Alpha Conde, Ecowas Commission President Jean-Claude Kassi Brou told reporters after a regional…

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Covid Variants Risk Rises in S. Africa With Biggest HIV Epidemic

Covid Variants Risk Rises in S. Africa With Biggest HIV Epidemic

JOHANNESBURG (Capital Markets in Africa): The world’s biggest number of HIV cases is complicating South Africa’s efforts to fight the coronavirus pandemic, raising the risk of more mutated versions emerging and spreading across the globe.Many of the country’s 8.2 million HIV-infected people are immuno-compromised and scientists say they can harbor the coronavirus for longer, allowing it to mutate as it reproduces. A study of an HIV positive 36-year-old woman showed that Covid-19 stayed in her…

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Mauritius Learns the Limits of Biden’s Invocation of the International ‘rules-based Order’

Mauritius Learns the Limits of Biden’s Invocation of the International ‘rules-based Order’

PORT LOUIS (Capital Markets in Africa) — Among President Biden’s favorite terms, “rules-based order” is near the top of the list. Used by his administration as a foreign policy mantra, it means supporting the international laws and institutions that have kept the world relatively peaceful since World War II. Russia’s seizure and annexation of Crimea from Ukraine has been cited as a violation of the rules, as has Syrian President Bashar al-Assad’s use of chemicals…

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Tycoon Dangote Can’t Get Enough Tomatoes to Run Plant Profitably

Tycoon Dangote Can’t Get Enough Tomatoes to Run Plant Profitably

LAGOS (Capital Markets in Africa) — Nigerian billionaire Aliko Dangote is barely managing to operate Africa’s biggest tomato processing plant, six years after the factory began production, as he can’t get adequate berries to crush. Dangote’s 1,200-ton a day plant is producing at 20% of capacity because farmers don’t have enough resources to boost acreage. The factory was meant to reverse Nigeria’s dependence on imports of tomato paste from China and increase local production. But…

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Bitcoin Tests $50,000 Threshold With Market Technicals in Focus

Bitcoin Tests $50,000 Threshold With Market Technicals in Focus

LONDON (Capital Markets in Africa) — Bitcoin headed for its worst week in almost two months as a proposed capital-gains tax increase for wealthy Americans intensified the volatility whiplashing the world’s largest cryptocurrency. A fresh bout of selling on Friday drove Bitcoin down as much as 7.9% to $47,525 — below its 100-day moving average — as it continued to take out key technical levels. Wall Street analysts warn of further losses for the notoriously…

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Angola Made Her Africa’s Richest Woman, But the Tide Has Turned

Angola Made Her Africa’s Richest Woman, But the Tide Has Turned

LUANDA (Capital Markets in Africa) — A year after Angolan authorities cracked down on her multibillion-dollar business empire, Africa’s once-richest woman is watching it crumble. From self-imposed exile in Dubai, Isabel dos Santos has been fighting a legal battle against Angola’s government as court orders roil her companies. In Luanda, shelves at the Candando supermarket stores are more than half-empty. A beer factory south of the capital is running at 30% of its production capacity. Operations at…

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