The Editorial Team

Nigerian Startup Raises $56 Million in Debt to Support Farming

LAGOS (Capital Markets in Africa) – Nigerian agriculture startup ThriveAgric raised $56.4 million in fresh capital to expand to new African markets, including Ghana, Zambia and Kenya. The funding will help the company grow its base of more than 200,000 farmers, according to a statement on Tuesday. The funding follows a $9 million equity raise in 2020. While smallholders dominate farming across Africa, they are faced with significant barriers including a lack of access to…

Buffett Snubs Goldman Bankers With Quirky Takeover Price

Posted on by The Editorial Team

NEW YORK (Capital Markets in Africa) – Warren Buffett is telegraphing his disdain for Wall Street bankers with an oddball price on his latest multibillion-dollar takeover. The $848.02 for every share that Alleghany Corp. stockholders get from Berkshire Hathaway Inc. is the result of Buffett balking at the banking fee being set aside by the target company — in this case for Goldman Sachs Group Inc., which is advising the insurer. Berkshire had offered to pay $850 a share with…

Why Some Bitcoin Devs Say Lasers Can Cut Mining’s Energy Costs

Posted on by The Editorial Team

LAGOS (Capital Markets in Africa) – Bitcoin’s energy use has long been a hot-button issue. Now some developers say the solution could lie in a more energy-efficient form of computer processing that, perhaps appropriately, uses lasers. When we consider Bitcoin’s energy use, really, the discussion should focus on emissions. Industry participants have worked toward improving transparency in that category the past couple of years. If we look even further back, Hal Finney – who received…

Egypt Set to Raise Samurai Bonds Worth $500 Million This Week

Posted on by The Editorial Team

CAIRO (Capital Markets in Africa) – Egypt plans to raise the equivalent of about $500 million with its first yen bonds, according to an official, as the government seeks to diversify funding for the economy that’s under pressure from the war in Ukraine and soaring commodity prices. The government is issuing the yen-denominated five-year debt in a private placement that will probably be completed Thursday, the head of the finance ministry’s debt management unit, Mohamed…

Central Banks, BIS Develop Digital Currencies Platform Prototype

Posted on by The Editorial Team

LAGOS (Capital Markets in Africa) – Several central banks and the Bank for International Settlements have developed prototypes for a common digital currencies platform that has the potential to make cross-border payments more efficient. The two prototypes demonstrate the technical viability of such a platform, the BIS said in a statement Tuesday with the Reserve Bank of Australia, Bank Negara Malaysia, the Monetary Authority of Singapore, and the South African Reserve Bank. Codenamed “Project Dunbar,”…

Goldman, Absa See More Ghana Rate Hikes If Cedi Weakens Further

Posted on by The Editorial Team

ACCRA (Capital Markets in Africa) – Ghana’s central bank will need to raise interest rates further this year unless a decline in the cedi is arrested, Goldman Sachs Group Inc.and Absa Group Ltd. said. The West African nation increased borrowing costs by the biggest margin in two decades on Monday to arrest inflation that accelerated at the fastest pace in almost six years in February and stem a depreciation in the cedi. The currency has weakened more than 17%…

Eskom Considering Taking Climate Funds as Equity Injection

Posted on by The Editorial Team

JOHANNESBURG (Capital Markets in Africa) – South Africa’s state power company is planning to propose that some of the funding the country secured to help tackle climate change take the form of loans to the government that could be converted to equity in the utility when needed. The arrangement would enable Eskom Holdings SOC Ltd. to access the $8.5 billion pledged by the U.S., U.K., Germany, France and the European Union without adding to its debt burden,…

« 1 … 42 43 44 45 46 … 1,072 »