The Editorial Team |

Steinhoff Seeks Extra Funding to Aid Mattress Firm Revival

JOHANNESBUG (Capital Markets in Africa) – Steinhoff International Holdings NV is assessing ways to attract extra funding for Mattress Firm to execute a turnaround of the troubled U.S. bedding retailer. Bought for $3.8 billion two years ago, Mattress Firm has emerged as a headache for Steinhoff as it strives to shore up liquidity following an accounting scandal. The 3,300-store chain expanded too aggressively, suffered from ineffective marketing and has been embroiled in a dispute with suppliers,…

Global Security at Stake in Mali’s Islamist War, President Says

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BAMAKO (Capital Markets in Africa) – Malian President Ibrahim Boubacar Keita said his country’s six-year fight against Islamist militants should be a global concern as the West African nation faces the fallout from the offensives against insurgents in Iraq and Libya. “What’s happening in Mali doesn’t only concern us here, but the global community,” Keita, 73, said in an interview in the capital, Bamako. “With the advances in the fight against the Islamic State in Syria and…

Whose Farm Is It Anyway? Drones Give Answers in Top Cocoa Grower

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ABIDJAN (Capital Markets in Africa) – In a cramped office in his parents’ backyard in Ivory Coast, Joseph-Olivier Biley is dreaming up solutions to Africa’s farming challenges. His answer: drones. The 25-year-old and his team of graduates from across the continent have spent a year developing and testing technology they say can help boost yields, improve crop forecasts and solve longstanding land-ownership issues in the world’s largest cocoa-producing nation. The drones are used to create…

South Africa Eases Free-Carry Rules in Final Mining Charter

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JOHANNESBURG (Capital Markets in Africa) – South Africa eased some of the more controversial provisions in a final version of its Mining Charter approved by the cabinet this week as the government seeks to provide policy certainty and ease investor concerns. While holders of new mining rights must still give employees a 5 percent stake in the assets, they can choose to offset another 5 percent for nearby communities by investing in community development instead,…

The Euromoney Morocco Conference 2019, Rabat, Morocco

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Foreigners Aren’t Yet Done Selling Egyptian Assets

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CAIRO (Capital Markets in Africa) – Foreign investors are accelerating their sales of Egyptian securities amid growing skepticism over the country’s economic outlook and while they ponder a more negative environment for emerging markets. Investors from abroad were net sellers of stocks and bonds each session this month through Tuesday, data provided by the stock exchange and compiled by Bloomberg show. On Sept. 5, foreign outflows reached almost 1 billion Egyptian pounds ($52 million), the…

Year of `Scandals’ Spurs South African Bourse to Plan New Rules

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JOHANNESBURG (Capital Markets in Africa) – Johannesburg’s stock exchange said it’s proposing tighter listing rules after South African financial markets were “shaken by a range of corporate scandals, rumors and innuendo” over the past year. The bourse published a consultation paper Wednesday, saying recent events showed a need for it to review its responsibilities and strengthen aspects of regulation. Recommendations range from boosting racial and gender diversity on boards, to doubling the notice period before new stocks…

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