Author: The Editorial Team

LONDON (Capital Markets in Africa) – Prime Minister Boris Johnson refused to back down over his threat to take the U.K. out of the European Union without a deal, despite a growing backlash over the impact his strategy is having on the pound. Johnson’s office hinted on Tuesday that another round of Brexit talks might not happen at all, and has warned he won’t meet EU leaders for negotiations unless they agree to tear open the current…

LONDON (Capital Markets in Africa) – Man Group Plc’s computer-driven funds are boosting earnings prospects for the world’s biggest publicly traded hedge fund even as the firm reported its first outflows for a six-month period since 2015. About 90% of Man AHL strategies, which use complex algorithms to trade, were at the “high water mark,” a level that allows funds to charge performance fee, according to a company statement on Wednesday. Man Group shares rose as much as…

LAGOS (Capital Markets in Africa) – MTN Nigeria Communications Plc, the largest unit within MTN Group Ltd., grew interim profit by 35% as its newly acquired spectrum enabled it to increase broadband and 4G offerings in the West African country. Chief Financial Officer Adekunle Awobodu will be leaving the business later this year “for family reasons,” and the process to find his replacement is well underway, the company said. Earnings before interest, tax, depreciation and amortization for…

JOHANNESBURG (Capital Markets in Africa) – Naspers Ltd., Africa’s biggest company by market value and soon to be one of Europe’s largest listed technology companies, is investing more of its $10-billion cash-pile in educational platforms. The Cape Town-based company has led the latest $30 million investment round in Brainly, a U.S. startup that allows learners to help each other with homework problems in different parts of the world. The students earn points for the quality…