The Editorial Team |

Egypt May Seek $1 Billion in Damages for Suez Canal Crisis

CAIRO (Capital Markets in Africa) — Egypt said it may seek around $1 billion in compensation after a giant container vessel blocked the Suez Canal for almost a week and roiled shipping markets. The figure is a rough estimate of losses linked to transit fees, damage to the waterway during the dredging and salvage efforts, and the cost of equipment and labor, the Suez Canal Authority’s chief executive officer, Osama Rabie, said late Wednesday to…

Bailout Terms Delay Debt Deal for Defaulted South African Bank

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JOHANNESBURG (Bloomberg) — South Africa’s largest lender to farmers has delayed a debt restructuring deal with creditors because of conditions attached to a government bailout, forcing it to repay what it owes to Standard Chartered Plc. Land & Agricultural Development Bank said on Wednesday that a March 31 deadline to reach an agreement won’t be met. The government’s 7 billion rand ($474 million) commitment required “a material change” to previous versions of plans to deliver on…

Goldman Close to Offering Bitcoin to Private Wealth Clients

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LONDON (Capital Markets in Africa) — Goldman Sachs Group Inc. is close to offering investment vehicles for Bitcoin and other digital assets to clients of its private wealth management unit. ″We are working closely with teams across the firm to explore ways to offer thoughtful and appropriate access to the ecosystem for private wealth clients, and that is something we expect to offer in the near-term,” Mary Rich, who was recently named global head of digital…

Covid-19 Pandemic: Levelling up

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LONDON (Capital Markets in Africa) – The coronavirus pandemic has spurred companies to upgrade their digital capabilities, boosting productivity and creating investment opportunities in previously overlooked niches. In his new book, Post Corona: From Crisis to Opportunity, the author Scott Galloway rejects the widespread view that the COVID-19 pandemic has fundamentally transformed the world. Instead, he argues the crisis “has been an accelerant of trends that were already well underway” Take companies’ investment in digital processes….

UK: What is different about the turn of the tax year in 2021?

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LONDON (Capital Markets in Africa) – Tax year end in 2021 comes after a year like no other. Financially, every household will have been impacted differently. While some have experienced a loss in income, many will have decreased their outgoings and then either reduced personal debt or increased savings. In both scenarios, it is worth noting that the financial planning objectives might have changed. Longer-term plans put in place more than a year ago are…

Increase debt suspension arrangements to offer low-income and middle-income

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ABIDJAN (Capital Markets in Africa) – Several heads of state and government, the United Nations and heads of multilateral development finance institutions on Monday called for expansion of the Debt Service Suspension Initiative, under which low-income countries have suspended paying down debt during the Covid-19 pandemic. The initiative should be widened beyond low-income countries and its current expiration extended to offer much-needed fiscal space, panelists urged in a discussion of international debt architecture and liquidity….

Applications Open for 2021 Africa’s Business Heroes Prize Competition

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LAGOS (Capital Markets in Africa) – In its third year, the Africa’s Business Heroes (ABH) prize competition gives African entrepreneurs a unique platform to showcase their talent and grow their businesses; ABH, which is the Jack Ma Foundation’s flagship philanthropic program in Africa, annually awards 10 outstanding finalists with a share of a US$1.5 million grant; Applications are now open in English and French for “heroes” across all sectors and African countries, with special emphasis…

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