The Editorial Team |

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

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….

Zuma Exit Rejuvenates South Africa’s Once-Cowed Parliament

Posted on by The Editorial Team

JOHANNESBURG (Capital Markets in Africa) – Jacob Zuma’s exit as South Africa’s president has given a new lease of life to the nation’s previously submissive parliament. While the African National Congress used its dominance of the legislature to shield Zuma and his appointees through repeated scandals, its lawmakers have found their voice since Cyril Ramaphosa replaced him as party leader in December and as president last month. Cabinet ministers and officials have been grilled over the misuse of…

Nigeria MPC Meeting Delayed by Up to 10 Days, Emefiele Says

Posted on by The Editorial Team

LAGOS (Capital Markets in Africa) – Nigeria’s Monetary Policy Committee meeting will be delayed by between a week and 10 days, central bank Governor Godwin Emefiele said. The postponement is to allow the Senate time to screen and approve nominees to the MPC, Emefiele said in an interview broadcast on CNBC Africa on Thursday. The meeting will take place “by latest, the first week of April,” he said. Senate lawmakers on March 13 finally agreed to start…

« 1 … 532 533 534 535 536 … 1,077 »