The Editorial Team |

Naspers Backs U.S. Education Platform Brainly in Investment Push

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…

U.S. Firms Want Nigeria Reforms Before Investing, Official Says

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LAGOS (Capital Markets in Africa) – Nigeria, Africa’s biggest oil producer, could attract more U.S. investment if the oil and gas sector becomes less opaque and a fuel-price peg is removed, according to a U.S. official. “Nigeria needs to think strategically about what is going to make it a more attractive destination,” Brent Omdahl, commercial counselor at the U.S. Department of Commerce, said in an interview in Lagos. “Our investors are willing to compete on…

Kganyago Says South Africa Central Bank Owners Debate a Distraction

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JOHANNESBURG (Capiatla Markets in Africa) – As the South African Reserve Bank’s shareholders prepared for its annual general meeting on Friday, Governor Lesetja Kganyago derided the debate over who owns the institution as a distraction from the real problems that the economy faces. This AGM was the second since the ruling African National Congress decided in December 2017 that the central bank, which is one of a handful worldwide owned by private investors, should be…

The Central Bank Punishing Lenders That Won’t Lend: QuickTake

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LAGOS (Capiatla Markets in Africa) – Nigeria’s central bank introduced measures last year to encourage commercial banks to lend more, part of a bid to revive one of Africa’s biggest economies. Credit growth, however, has stagnated, despite the new rules enabling lenders to deploy funds previously earmarked as reserves. Now, central bank Governor Godwin Emefiele is taking a more aggressive approach, penalizing banks that are deemed too risk-averse. Why is the central bank doing this? Nigeria’s economy contracted…

Vote Corbyn, Stop Brexit: How Labour Plans to Take On Johnson

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LONDON (Capiatla Markets in Africa) – Top officials in Britain’s main opposition Labour Party are preparing a dramatic policy to campaign to reverse the 2016 Brexit vote and keep the U.K. inside the European Union, if a snap election is held in the months ahead. Labour’s manifesto for an election is being drafted already and is likely to promise another referendum on EU membership with the party campaigning for remain, people familiar with the matter…

Vodafone Surges on Possible IPO, Stake Sale of Towers Unit

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LONDON (Capiatla Markets in Africa) – Vodafone Group Plc shares gained the most in more than a decade on the phone carrier’s plan to carve out its towers business and consider an initial public offering or minority stake sale of the new unit. The stock rose as much as 10.4%, the biggest intraday jump since November 2008, after the carrier announced plans to separate Europe’s largest towers portfolio alongside financial results that beat expectations. The business,…

EU Says No to Boris Johnson, Increasing No-Deal Brexit Risk

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LONDON (Capiatla Markets in Africa) – The scale of the challenge facing Boris Johnson to break Britain’s political deadlock was laid bare in his first days as prime minister, as the European Union immediately rejected his demands for a better Brexit deal. Johnson told European Commission President Jean-Claude Juncker that the U.K.’s Withdrawal Agreement with the EU would have to change for it to pass Parliament, according to his office’s account of the phone conversation between the two Thursday. Juncker said…

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