The Editorial Team |

Dangote: Africa’s Richest Man Makes a $17 Billion Bid for Immortality

LAGOS (Capital Markets in Africa) – Aliko Dangote’s plan to reduce Nigeria’s dependency on fuel imports will carve out an even bigger slice of the nation’s $376 billion economy for his empire. The best way to appreciate the scale of Aliko Dangote’s empire is to hitch a ride on one of his private jets. A half-hour after his Bombardier Challenger 605 takes off from Lagos Airport, it descends into a seemingly desolate area of Kogi State…

Green Energy, Spurned by Zuma, Back in Vogue in South Africa

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JOHANNESBURG (Capital Markets in Africa) – With South Africa’s state electricity utility in dire financial straits and straining to meet demand, the government has reverted to courting independent renewable energy producers to help power the continent’s most industrialized economy. President Cyril Ramaphosa, his Energy Minister Jeff Radebe and the Treasury have all recently heralded solar and wind-powered plants as the answer to meeting South Africa’s future electricity demands, citing falling costs and environmental considerations. The government also needs…

Senegal’s Sall Heads for Outright Win in Partial Vote Results

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DAKAR (Capital Markets in Africa) – Senegalese President Macky Sall is leading Sunday’s election with the necessary majority for an outright win, according to unofficial results from most of the country’s 45 departments. Sall secured 57 percent of the 3.8 million votes counted in 39 departments that were compiled by a group of citizen observers known as Senegal Vote and tallied by Bloomberg. The results from 32 departments that were reported by state-run Agence de Presse Senegalaise…

Buhari Triumphs in Nigeria Election as Opposition Rejects Result

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LAGOS (Capital Markets in Africa) – Nigeria’s Muhammadu Buhari easily won a second term as president of Africa’s biggest oil producer with promises to revive an anemic economy and tackle security threats including a devastating insurgency by Islamic State. His main opponent rejected the results. Atiku Abubakar said Wednesday he’ll go to court to challenge official results showing Buhari won the Feb. 23 ballot by a margin of 56 percent to 41 percent. He alleged the ruling party used the…

What South Africa’s Main Political Parties Are Promising Voters

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JOHANNESBURG (Capital Markets in Africa) – South Africa is gearing up for elections on May 8 that will serve as a referendum on whether the African National Congress has rehabilitated itself in the eyes of voters after former leader Jacob Zuma’s scandal-marred rule. The ruling party’s two main challengers are the pro-business Democratic Alliance and the populist Economic Freedom Fighters, which favors the nationalization of mines, banks and land. The ANC, led by President Cyril Ramaphosa, aims to…

Naspers Pay-TV Unit MultiChoice Jumps on Debut in Johannesburg

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JOHANNESBURG (Capital Markets in Africa) – MultiChoice Group Ltd. soared 16 percent in debut trading in Johannesburg as the pan-African pay-TV company embarks on a new era of independence following a spin off by technology giant Naspers Ltd. The shares traded at 111.12 rand as of 11 a.m. local time on Wednesday, valuing the company at almost 50 billion rand ($3.5 billion). That’s the biggest listing in the city since Steinhoff International Holdings NV unbundled its Africa…

Top Cocoa Growers Are Said to Mull Floor Price for Bean Sales

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ACCRA (Capital Markets in Africa) – The world’s two biggest cocoa producers are considering setting a minimum price for their beans in a bid to derive more value from growing the chocolate ingredient, according to two people familiar with the matter. The industry regulators of Ivory Coast and neighboring Ghana are in talks to study a price that will fall in a range of 1,700 pounds ($2,255) to 2,000 pounds per metric ton on a free-on-board basis,…

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