The Editorial Team |

Fake News Is Fair Game in Nigerian Social Media Battle for Votes

LAGOS (Capital Markets in Africa) – As Nigeria’s presidential candidates travel around the vast West African nation holding rallies and making speeches, behind the scenes their supporters are engaging in a hot social media battle for the minds of mainly young voters. Nothing is sacred in the fight as volunteers for President Muhammadu Buharihunker down in a building in Nigeria’s capital, Abuja, trying to neutralize adverse reports on Facebook, Twitter, and Instagram. Across town, a similar…

Sygnia CEO Queries Costs at Africa’s Biggest Fund Manager

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JOHANNESBURGH (Capital Markets in Africa) – Sygnia Ltd. Chief Executive Officer Magda Wierzycka is questioning fees paid by South Africa’s state-owned money manager, citing an unverified document she says details a “sad litany of plunder” at the Public Investment Corp. The overseer of 2.1 trillion rand ($157 billion) of mostly civil-servant pension funds spent 960 million rand on advisory and transactional costs between 2014 and 2018, Wierzycka said in an opinion piece published Wednesday by Business Day. By…

Politics Hinders Ramaphosa’s Bid to Rouse South African Economy

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JOHANNESBURGH (Capital Markets in Africa) – Politics is tying the hands of South African President Cyril Ramaphosa as he weighs policy trade-offs needed to rejuvenate a moribund economy. The labor union leader-turned businessman took office a year ago, shortly after winning control of the ruling African National Congress by a razor-thin margin. With a large party faction remaining loosely aligned to his predecessor Jacob Zuma, Ramaphosa’s political control remains tenuous. He is due to announce the government’s policy…

Barclays Ex-Chief Diamond Replaced in Atlas Mara Shakeup

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LAGOS (Capital Markets in Africa) – Bob Diamond, the financier who once ran Barclays Plc, is stepping down as executive chairman of his African banking venture as it reviews assets and seeks to exit some countries. He will be replaced by Michael Wilkerson, the chairman of Fairfax Africa Holdings Corp., which owns 49 percent of the firm, but will stay on as a non-executive director, Atlas Mara said in a statement on Wednesday. Diamond wants to “increase his…

Blackstone Pulls Back From Africa on Black Rhino Sale Plan

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KINSHASA (Capital Markets in Africa) – Investment firm Blackstone Group LP is scaling back its bet on Africa, almost five years after it made a commitment to spend billions of dollars alongside the continent’s richest man. The world’s largest alternative-investment manager is in the process of selling its Africa subsidiary Black Rhino Group back to management, according to a person familiar with the deal, who asked not to be identified because the discussions are private. The unit…

EUROMONEY BRINGS FINANCE, INVESTMENT AND BUSINESS LEADERS TO MOROCCO

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Rabat, Morocco: 31 January 2019: Euromoney Conferences, a leading organiser of conferences for cross-border investment and capital markets, will hold its inaugural Euromoney Morocco Conference in Rabat on 19 February 2019. A diverse line-up of domestic and international speakers will discuss Morocco’s financial sector development and huge potential for investment, growth and trade in front of 200 C-suite delegates. The event will highlight the ambitions of the government and business leaders to position the country…

Zimbabwean President Invites Opposition Leaders for Talks

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HARARE (Capital Markets in Africa) – Zimbabwe President Emmerson Mnangagwa invited opposition leaders for talks after a violent crackdown on anti-government protests over an economic crisis. The meeting will take place on Wednesday at State House in the capital, Harare, Madock Chivasa, a spokesman for the opposition National Constitutional Assembly, said by phone. Political leaders who contested last year’s presidential elections can bring three delegates and those who won seats in parliament may be accompanied by an…

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