The Editorial Team |

Safaricom’s Kenya Market Slips to 63% as Bharti Gains Ground

NAIROBI (Capital Markets in Africa) – Safaricom Plc’s market share of Kenyan mobile-phone subscriptions dropped for a sixth consecutive quarter as competition heats up, according to data from the industry regulator. Safaricom, East Africa’s biggest company by valuation and a unit of Vodacom Group Ltd., recorded a market share of 63 percent in 2018, compared with 69 percent during the previous year, according to the Communications Authority. Bharti Airtel Ltd.’s local unit, which agreed to merge operations with Telkom…

Brewers Battling for Nigeria Market Share Face New Foe: Taxes

Posted on by The Editorial Team

LAGOS (Capital Markets in Africa) – For brewing giants AB InBev SA, Heineken BV and Diageo Plccompeting for market share in Africa’s most populous country, the Nigerian government’s decision to hike excise duties is another setback in an under-performing economy. President Muhammadu Buhari’s administration followed up its June decision to impose taxes on beer and spirits by deciding in January to implement another phased 17 percent increase in duties on alcoholic beverages. The move, a bid in part…

Carrefour Franchisee on Prowl for Acquisitions to Grow in Africa

Posted on by The Editorial Team

LAGOS (Capital Markets in Africa) – Majid Al Futtaim Holding LLC, an operator of French retailer Carrefour SA outlets, plans to boost its presence in Kenya as it looks to expand into eastern and southern Africa. Growing the franchise in Africa will boost competition for the likes of Shoprite Holdings Ltd., the continent’s biggest grocer, and Walmart Inc.’s Massmart Holdings Ltd. Those companies are looking to develop outside their home markets in South Africa, where stagnant economic…

Algeria’s President Promises to Resign, and to Leave His Mark

Posted on by The Editorial Team

ALGEIRS (Capital Markets in Africa) – Battered by more than a month of protests, Algerian President Abdelaziz Bouteflika said he would step down before the end of his fourth term on April 28, but suggested he would still craft the foundations of the transition to come. The announcement on Monday appeared aimed at avoiding what could be a military-sanctioned, and embarrassing, constitutional push to have him declared unfit for office. It was also unclear whether it would…

Oando Auditors Question Its Ability to Continue Operations

Posted on by The Editorial Team

LAGOS (Capital Markets in Africa) – Ernst & Young, auditors for Nigeria’s Oando Plc, said there was material uncertainty about the energy company’s ability to continue as a going concern, even as it reported increased profit in the past financial year. While profit after tax rose 46 percent to 28.8 billion naira ($80 million), “the company recorded comprehensive losses for the year of 18.3 billion naira and, as that date, current liabilities exceeded current assets by…

Boeing Says More Time Needed to Finish 737 Max Software Fix

Posted on by The Editorial Team

LAGOS (Capital Markets in Africa) – Boeing Co. says it needs more time to finish a software upgrade for its grounded 737 Max jetliners as company engineers update a stall-prevention system linked to two fatal crashes in five months. The planemaker said last week it would submit final paperwork for the revamp to the Federal Aviation Administration by March 29 to make the system — known as MCAS — less aggressive in pushing down a plane’s…

What to Watch in Commodities: Trade, Aramco, Megadeal, OPEC, LNG

Posted on by The Editorial Team

LAGOS (Capital Markets in Africa) – Commodities posted good returns in the first quarter, although there are now concerns on whether gains can be sustained. As April opens, it’s deals that are on the radar: the U.S. and China plan more talks as they seek to narrow differences on trade, and in what could be the biggest deal in the gold-mining industry, Goldcorp Inc. shareholders vote on the merger with Newmont Mining Corp. Also key to events, mammoth oil…

« 1 … 332 333 334 335 336 … 1,077 »