The Editorial Team |

Africa BFSI Innovation Summit 2019: Embracing Innovation For A Better Africa

Africa BFSI Innovation Summit 2019 is scheduled to take place on 19 – 20 February 2019 at the Mövenpick Hotel & Residences Nairobi, Kenya. Digital transformation is the way forward for banks, insurers, capital market firms, and financial regulators around the world. Experts are of the opinion that Africa is leading the world in financial innovation and digital space is currently the number one priority for CEOs from across different markets in Africa. Against this…

Nigeria Misses Out on Emerging-Market Rally as Vote Nears

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LAGOS (Capital Markets in Africa)- Emerging-market assets may be enjoying a strong start to the year, but one country missing out on the rally is Nigeria. With investors fretting about tight elections just a month away, low oil prices and escalating violence, there’s little to suggest there’ll be an immediate turnaround. The main stock index in Lagos, the commercial capital, has lost 4.1 percent since the end of 2018, which is the biggest drop globally after Serbia, Romania and Bulgaria,…

Congo Opposition’s Fayulu to Challenge Vote Results in Court

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KINSHASA (Capital Markets in Africa) – Democratic Republic of Congo opposition leader Martin Fayuluwill go to court to challenge results that showed he lost last month’s presidential election. Fayulu claims official results showing rival opposition candidate Felix Tshisekedi won the Dec. 30 poll were rigged and has urged his supporters to protest against them. Fayulu topped an opinion poll before the vote, and Western diplomats have said an observer mission run by the country’s influential Catholic Church found…

Cerba, Lancet Are Said to Agree Africa Deal for $123 Million

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LAGOS (Capital Markets in Africa) – Cerba HealthCare SAS, the French owner of a global network of medical laboratories, is expanding in Africa by buying some of Lancet Laboratories’ operations for as much as 12.5 billion Kenyan shillings ($123 million), said a person familiar with the matter. Paris-based Cerba will hold a 51 percent stake in a joint venture with the South African company that will operate in 11 African countries, said the person who…

Zambia Deports Third Manager in Dispute Over Emerald Mine

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LUSAKA (Capital Markets in Africa) – Zambia deported another of Israeli diamond billionaire Lev Leviev’s managers at an emerald mine where he is embroiled in a $51 million dispute, Leviev’s local lawyer said. Immigration officials took Sergey Kuznetsov, a Russian who was Leviev’s only remaining manager at the operation and was in charge of the vault where the gems were stored, to the airport and put him on a plane, lawyer Dickson Jere said by phone….

Bharti Airtel Agrees to Cede Some Shareholding in Tanzanian Unit

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DAR ES SALAAM (Capital Markets in Africa) – Bharti Airtel Ltd. has agreed to reduce its stake in its Tanzanian unit to 51 percent from 60 percent after months of negotiations with the government, which accused the operator of acquiring the initial shareholding illegally. The Tanzanian government’s stake will increase to 49 percent from 40 percent, Chairman Sunil Bharti Mittal said in comments emailed by President John Magufuli’s office. Airtel has said its acquisition in 2010 of the…

Steinhoff’s Salvage Process Stalls as Former Partner Digs In

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JOHANNESBURG (Capital Markets in Africa) – Steinhoff International Holdings NV’s effort to rescue its European business has been delayed after a challenge from a company linked to Andreas Seifert, the beleaguered retailer’s latest opposition from its former Austrian partner. LSW GmbH, “which says it’s a creditor of Steinhoff Europe,” is opposing a company voluntary arrangement proposed on Dec. 14, and the agreement won’t be implemented until the challenge is resolved, Stellenbosch, South Africa-based Steinhoff said…

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