The Editorial Team |

Helios Towers Halts IPO Plans After Eaton Towers Deal Report

LAGOS (Capital Markets in Africa) – Helios Towers Plc abandoned plans for an initial public offering following a report that it could merge with another telecommunications tower operator in Africa, Eaton Towers Ltd. A merger between the two could take place, given the scope for regional sector consolidation, Merger market reported on Wednesday, citing a person familiar with the situation and two industry advisers. Earlier talks to combine failed due to disagreement on valuation, yet…

IPO Buzz Grows in Egypt as Two More Companies Ready Share Sales

Posted on by The Editorial Team

CAIRO (Capital Markets in Africa) – The buzz around initial public offerings in Egypt is growing louder, with two more companies announcing plans for share sales. Investment bank CI Capital Holding said Thursday it intends to offer more than 40 percent of its capital on the Cairo stock market. BPE Partners is preparing to sell shares in its private equity investment company later this month, the firm’s founding partner said Wednesday. They join a growing line-up…

Hedge-Fund Billionaire’s Bitcoin Bet Is Cautionary Tale: Gadfly

Posted on by The Editorial Team

LAGOS (Capital Markets in Africa) – Bitcoin continues to redefine the word volatility. The cryptocurrency is down more than 50 percent from its December peak; but that still leaves it up more than 600 percent from its value a year ago. On Thursday, it dipped below $8,000, marking a decline of more than a third this month alone. Its fellow digital currencies including Ripple and Ethereum have inflicted similar losses on holders — or hodlers,…

Zimbabwe Ownership Law Stymies RioZim’s Bold Expansion Plan

Posted on by The Editorial Team

HARARE (Capital Markets in Africa) – RioZim Ltd., a Zimbabwean diamond, nickel and gold miner, wants to more than double output of gemstones at its Murowa mine. The problem is the expansion depends on attracting $125 million in investment against a backdrop of high royalties and ownership laws that scare investors. President Emmerson Mnangagwa, who replaced President Robert Mugabe after military intervention in November, has said the southern African nation won’t apply the ownership laws, known…

Ghana Cocoa Board Ex-CEO Charged for Causing Losses to State

Posted on by The Editorial Team

ACCRA (Capital Markets in Africa) – The former chief executive officer of Ghana Cocoa Board, Stephen Opuni, has been charged for causing financial losses to the state during his tenure as head of the regulator, according to a justice ministry official. The charges against Opuni, who was fired by President Nana Akufo-Addo in January 2017, were filed Wednesday at the High Court in Accra, the capital, Joseph Addo, a spokesman for the office of the…

Good News From West African Bourse Not Reaching Investors

Posted on by The Editorial Team

ABDIJAN (Capital Markets in Africa) – Investors are overlooking attractive opportunities in West Africa’s regional stock market — and the companies listed there are partly to blame, according to the head of the exchange. The 45 companies from eight countries that trade on the Bourse Regionale des Valeurs Mobilieres, or BRVM, need to step up on disclosure and transparency to win over investors, Chief Executive Officer Edoh Kossi Amenounve said in an interview in Johannesburg. South Africa…

Mauritius Premier Slams President Over Her Refusal to Resign

Posted on by The Editorial Team

PORT LOUIS (Capital Markets in Africa) – Mauritian Prime Minister Pravind Jugnauth accused the nation’s president of back pedalling on a promise to resign amid allegations of misconduct, vowing to take unspecified actions. The dispute between the two leaders has ratcheted up uncertainty on the Indian Ocean island, which been politically and economically stable since it gained independence from Britain in 1968. The World Bank ranks the country as the easiest place to do business in Africa….

« 1 … 530 531 532 533 534 … 1,076 »