The Editorial Team |

South African Platinum Mine Wage Talks to Start Next Week

JOHANNESBURG (Capital Markets in Africa) – South Africa’s largest platinum-mining labor union said it will meet the nation’s top three producers on successive days next week as it starts formal negotiations for a three-year wage deal. The Association of Mineworkers and Construction Union plans to meet Anglo American Platinum Ltd. on July 9, followed by Impala Platinum Holdings Ltd. on July 10 and Sibanye Gold Ltd. the day after that, according to Secretary General Jeffrey Mphahlele. AMCU has asked for a…

British High Street Woes Weigh on Truworths as Retailer Slumps

Posted on by The Editorial Team

JOHANNESBURG (Capital Markets in Africa) – Truworths International Holdings Ltd. fell the most in five months in Johannesburg as the South African retailer joined the ranks of those feeling the pain from the U.K.’s ailing shopping streets. Truworths said Tuesday British footwear subsidiary Office had started debt restructuring talks with its lenders in the face of the “depressed retail trading environment.” The stock slumped as much as 6.5%, the biggest drop since January, making it the second-worst performer among…

Ethiopian PM Says Reforms Will Deliver 3 Million Jobs in 2019-20

Posted on by The Editorial Team

ADDIS ABABA (Capital Markets in Africa) – Abiy Ahmed plans to double jobs created in 2019-20 as he implements a reform agenda that opens up the economy for more foreign investment. Africa’s second-most populous nation will probably create 3 million jobs in the year starting July 8 compared with 1.4 million in the previous 12 months, Abiy told lawmakers in the capital, Addis Ababa. Most of the jobs will come from small businesses, he said. While…

Egypt United Bank Stake Sale Advances as Advisers Bid for Role

Posted on by The Editorial Team

CAIRO (Capital Markets in Africa) – Egypt’s biggest investment banks, including EFG Hermes Holding Co. and CI Capital Holding, are vying to manage the sale of a stake in state-owned United Bank, a deal that may augur a new wave of private investment in the North African nation after years of upheaval. Pharos Holding and HC Securities & Investment are also among “several” investment banks that have bid for the role, according to Egyptian central bank…

Bharti Airtel’s Kenyan Unit Adds Market Share for Sixth Quarter

Posted on by The Editorial Team

LAGOS (Capital Markets in Africa) – Bharti Airtel Ltd.’s Kenyan unit increased its share of mobile-phone subscriptions for a sixth consecutive quarter after adding customers in the first three months of the year, according to data from the industry regulator. Airtel Networks Kenya Ltd. had 26.1% of subscribers, up from 23.4% in the final quarter of 2018, the Communications Authority said in its latest report. Safaricom Plc, Kenya’s biggest company by market value, lost market…

What to Watch in Commodities: Trade Truce, OPEC, Crops, Palm

Posted on by The Editorial Team

LAGOS (Capital Markets in Africa) – It’s the end of a turbulent six months for commoditymarkets that have been buffeted by powerful and conflicting forces since the start of the year. While supply disruptions have fed a bullish narrative that’s driven oil, iron ore and corn to multi-year highs, concern over the impact of the U.S.-China trade war on economic growth has supported a bear case for raw materials, especially industrial metals. The Bloomberg Commodity Spot Index eked out a…

Moody’s Sees Wave of M&A Deals Among Ghana Insurers on New Rules

Posted on by The Editorial Team

ACCRA (Capital Markets in Africa) – Moody’s Investors Service is predicting Ghana’s insurance industry will see a wave of mergers and acquisitions after the West African nation’s regulator more than tripled minimum capital requirements. The move to higher capital requirements is credit positive for the industry, Brandan Holmes, a vice president at Moody’s, said in emailed response to questions. Smaller insurers will either need to raise additional cash or be absorbed by their larger rivals, he…

« 1 … 290 291 292 293 294 … 1,072 »