The Editorial Team |

Shoprite Eases Africa Push to Focus on Domestic Market Gains

JOHANNESBURG (Capital Markets in Africa) — Shoprite Holdings Ltd. switched its focus firmly toward taking market share in its home market of South Africa, after opting to withdraw from Nigeria and Kenya and move more cautiously in Angola. The more guarded approach comes after the continent’s biggest supermarket chain struggled with supply disruptions and getting money out of some countries. The company is seeking to take advantage of its increased dominance of the South African…

Bloomberg Wealth: How to Sound Smart About Bitcoin Now

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LAGOS (Capital Markets in Africa) — There comes a point in nearly every financial conversation these days when someone drops the “B” word. Bitcoin, that is. Maybe it’s pandemic boredom. Maybe it’s the fact that every billionaire out there wants us to know whether they hate it or love it. In any case, the cryptocurrency has been on — hmm, let’s say an… interesting… ride — over the past few weeks. So I thought I’d write you…

Biden Prepares Nationwide Victory Lap to Promote His Rescue Plan

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LAGOS (Capital Markets in Africa) — President Joe Biden got his giant coronavirus stimulus bill. Now, he wants to make sure he gets the credit. The president will hold a ceremony on Friday to sign his $1.9 trillion American Rescue Plan into law, kicking off a victory lap that aides and allies describe as a campaign to persuade the nation that he and fellow Democrats are responsible for preventing millions of Americans from enduring poverty…

The Economy Looks Set to Roar, and That Worries Investors

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LAGOS (Capital Markets in Africa) — Before we talk about what’s going on in the stock market—and why it’s whipsawed so many investors even though the S&P 500 index is near a record high—we have to talk about bonds. U.S. Treasuries are probably the world’s most important financial market, but it’s easy to forget about them when they’re well-behaved. When prices suddenly drop, which causes their yields to rise, for many professional investors it can…

The Winners and Losers From Surging Oil and Commodity Prices

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LAGOS (Capital Markets in Africa) — You’d think a world tiptoeing its way out of the coronavirus pandemic might only be good news for governments and economies. Yet the consequent surge in the price of energy, metals, and crops is highlighting the strengths of some and the vulnerabilities of others. Oil has climbed 75% since the start of November as major economies vaccinate their populations and reopen after the pandemic shut down factories and grounded planes. Copper, used…

MTN Looks to Spin Off Fiber, Fintech Units to Unlock Value

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JOHANNESBURG (Capital Markets in Africa) — MTN Group Ltd. has begun work toward separating its fiber and fintech units as part of plans to unlock value and raise funds to fuel expansion. Africa’s biggest wireless carrier is seeking strategic partners and investors for the businesses, Chief Executive Officer Ralph Mupita said in a presentation Wednesday. The company owns 85,000 kilometers (52,817 miles) of fiber across the continent, while fintech products such as mobile-payment services are growing rapidly….

Africa’s Biggest Bank Sees Lengthy Slog to Recover From Pandemic

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LAGOS (Capital Markets in Africa) — Standard Bank Group Ltd. said any economic recovery from the Covid-19 pandemic in Africa would likely take until late this year or even 2022, warning of the long wait ahead for lenders struck by a slump in borrowing and spending. The continent’s largest bank reported a 51% decline in profit after taxes and other adjustments for the year through December, according to a statement on Thursday. The Johannesburg-based company also declared…

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