The Editorial Team |

South Africa Close to Tax Deal to Lure VW, Ford, BMW Investment

JOHANNESBURG (Capital Markets in Africa) – South Africa’s government is close to agreeing to new tax breaks for international carmakers including Toyota Motor Corp., Ford Motor Co. and BMW AG in return for initiatives to boost jobs and exports, according to Trade and Industry Minister Rob Davies. A deal on a 15-year incentive program to replace one that expires in 2020 should be reached this year, Davies said in an interview Tuesday. While work is still to…

Rand Sinks as a Downbeat Moody’s, Naspers Spur a Perfect Storm

Posted on by The Editorial Team

JOHANNESBURG (Capital Markets in Africa) – South Africa’s rand was battered by headwinds including a downbeat assessment of the economy by Moody’s Investors Service and a plunge in the biggest company on the Johannesburg Stock Exchange. The currency sank as much as 3.4 percent against the dollar after Moody’s said the pace of South Africa’s fiscal consolidation will be slower than government forecasts due to weaker-than-expected economic growth and a rising public sector wage bill. The statement…

Nigeria CPI Dips to 2 1/2-Year Low; Food-Price Growth Slows

Posted on by The Editorial Team

LAGOS (Capital Markets in Africa) – Nigerian inflation decelerated for an 18th straight month as food prices climbed at the slowest rate since March 2016. The annual inflation rate dropped to 11.1 percent in July from 11.2 percent in June, the Abuja-based National Bureau of Statistics said on Twitter Wednesday, matching the median of estimates in a Bloomberg survey. The slowdown in inflation could reverse in the second half of the year as the government releases funding for…

Emerging Market Central Banks Show Power in Beating Back Attacks

Posted on by The Editorial Team

LAGOS (Capitla Markets in Africa) – Emerging-market central banks are boosting investors’ confidence in their ability to withstand shocks by pursuing orthodox economic policies and ignoring political pressures. As the economic crisis in Turkey this week threatened to roil markets in developing nations, policy makers from Jakarta to Buenos Aires reacted with a steady hand. Their response — raising interest rates, selling reserves or just providing reassurance that they’re paying attention — stands in stark…

Helios Investing in Congo Towers After Scrapping IPO Plans

Posted on by The Editorial Team

LAGOS (Capital Markets in Africa) – Helios Towers Plc is investing tens of millions of dollars in the Democratic Republic of Congo and looking for acquisitions as the African phone-tower operator seeks to move on from a scrapped initial public offering earlier this year. The company plans to build 1,800 kilometres (1,118 miles) of tower network in the Congo to connect an additional 6 million people in sub-Saharan Africa’s largest country, Chief Executive Officer Kash Pandya said by…

Nigerian Senate Head Says He’s Considering Running for President

Posted on by The Editorial Team

LAGOS (Capital Markets in Africa) – Nigerian Senate President Bukola Saraki is considering running against President Muhammadu Buhari when Africa’s top oil producer holds elections in February. “I am consulting and actively considering it,” Saraki, 56, said Tuesday in an interview at his residence in the capital, Abuja. “I believe I can make the change.” After recently defecting from the ruling All Progressives Congress, Saraki said that if he decided to run, it would be under the banner of…

A $40 Billion Plan to Cash Out Of Bitcoin: Lionel Laurent

Posted on by The Editorial Team

LAGOS (Capital Markets in Africa) – A rumoured IPO of the world’s biggest crypto-miner might end up as a play on advanced AI chips. The 1980s cyberpunk novels that predicted today’s internet failed to conceive of anything as outlandish or contradictory as Bitcoin: A digital currency that’s spent nowhere, a commodity that’s used for nothing, and a libertarian dream that’s effectively run by elites. Now, after its 66-percent price drop from December highs, comes yet another fantastical…

« 1 … 456 457 458 459 460 … 1,076 »