The Editorial Team |

Dangote Sugar Nigeria Says Illegal Imports Hurt Sales, Profit

LAGOS (Capital Markets in Africa) – Dangote Sugar Refinery Plc, Nigeria’s biggest grower of the sweetener, said illegal, low-quality imports are putting pressure on its selling price while a traffic gridlock around its production site in Lagos is hampering delivery of goods to customers. “Sales and production volumes were constrained’’ in 2018 because of “these challenges,’’ the company said in emailed presentation. It plans to “work with the regulatory agencies to compact smuggled sugar’’ this…

Botswana President Wins Battle for Control of Ruling Party

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GABONONE (Capital Markets in Africa) – Botswana President Mokgweetsi Masisi maintained his grip on the nation’s ruling party after former Local Government Minister Pelonomi Venson-Moitoi withdrew from an election for the top post, leaving him to stand unopposed. Masisi fired Venson-Moitoi in December after she announced plans to stand for the party presidency at a two-day conference in Kang, about 400 kilometers (249 miles) northwest of the capital, Gaborone, that began on Friday. Venson-Moitoi alleged that there was an…

Steinhoff Delays Earnings Report as Auditing Complexity Deepens

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JOHANNESBURG (Capital Markets in Africa) – Steinhoff International Holdings NV pushed back the dates for the publication of audited earnings for 2017 and 2018 after the findings of a forensic probe by PwC made the process more time consuming and complex. The South African retailer, which almost collapsed amid an accounting scandal in late 2017, is working toward ensuring that all appropriate adjustments are made to valuations and profitability at various subsidiaries, the company said in…

Harnessing Africa’s Digital Potential Could Help Tackle Closing The Digital Divide

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LAGOS (Capital Markets in Africa) – Today’s digital divide is very much a reflection of existing global and societal divides. Often, existing inequalities are exacerbated by a lack of internet access. This is particularly reflected in emerging economies like Africa, where people may not always have the means to access the best that technology has to offer. I strongly believe closing the digital divide, between those who have access to the Internet and those who…

DEMYSTIFYING BLOCKCHAIN ONE BLOCK AT A TIME

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LAGOS (Capital Markets in Africa) – In the early days of the internet, evangelists were trying to get people to believe in its vast potential, and there were many who said that they did not believe in this new technology. They did not believe that information will be held on a server, but instead insisted that it would continue to be held on a CD-ROM or a floppy disk. How wrong they were! We think…

No Simple Solution to Achieving Scale In Global Mobile Payments

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LAGOS (Capital Markets in Africa) – In many ways, cash transactions are the original “mobile payments”. They are fast, easy, cheap, and relatively secure, and have set a very high payment experience bar that any other form of mobile payment will need to exceed if it plans on making the use of cash obsolete. Not only are cash payments instantly ‘cleared’ between the buyer and seller, they are mostly universally accepted, require no complex hardware…

INTERNET OF THINGS: ENABLING THE FULL VALUE OF CONNECTIVITY

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LAGOS (Capital Markets in Africa) – Technology has the potential to fundamentally transform societies. It enables rapid improvements to industrial production and societal services, positively influencing the way we live and interact with our environment. Africa is home to over a billion people and the population is expected to grow in the coming years. It is also a continent with the most growing economies and many from a low base. To accelerate its journey towards…

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