The Editorial Team |

Kenya Charges Opposition Figure Amid Protests Over Arrests

NAIROBI (Capital Markets in Nigeria) – Kenyan authorities charged an opposition figure over his attendance at a mock inauguration ceremony, as protests erupted over the arrest of anti-government leaders. Police charged Miguna Miguna with being present at the administering of an oath of office to National Super Alliance leader Raila Odinga on January 30 “purporting to bind” Odinga to a treasonous offense, according to a charge sheet published on the Twitter account of Ukweli Party leader Boniface…

Investec Swaps Brash for Suits as Koseff Makes Way for New CEOs

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JOHANNESBURG (Capital Markets in Africa) – Raised in the same industrial town as actor Charlize Theron, Investec Chief Executive Officer Stephen Koseff still retains the edge he picked up as a bloke from Benoni on the east of Johannesburg. Now, after 40 years of jostling with South Africa’s biggest banks and money managers to build Investec into a business managing more than 154 billion pounds ($215 billion) in assets, Koseff and Investec’s two other founding members are making way for new…

FinTech is Fast-tracking the Positive & Profitable Transformation of Banking & Financial Services in Africa

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The impact of Blockchain, Open Banking, Mobile Money and Payment innovations are radically transforming the financial services landscape as FinTech disruptors intensify the challenge to incumbent banks and kickstart new opportunities in Kenya Nairobi, Kenya: Africa’s financial sector is in the midst of an exciting and profound transformation. The rapid growth of FinTech on the continent is driving the disruption and, in many cases, leapfrogging of legacy systems as innovators accelerate the digital transformation of…

Naspers Asking Investec to Pull `Damaging’ Analyst Report

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JOHANNESBURG (Capital Markets in Africa) – Naspers Ltd. asking Investec Ltd. to withdraw an analyst report that it says contains errors and has damaged Africa’s biggest company by market value and its shareholders. In the note dated Jan. 22 seen by Bloomberg News, Investec analysts David Smith and Thapelo Mokonyane said Naspers should be valued at a 30 percent discount to its assets. That’s due to a gradual increase in the number of outstanding shares…

Platinum CEOs See Supply `Flat at Best’: Africa Mining Update

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JOHANNESBURG (Capital Markets in Africa) – Mining executives, investors and government ministers are meeting in drought-hit Cape Town for the African Mining Indaba, the continent’s largest gathering of one of its most vital industries. Recent multiyear highs for many commodities have the world’s biggest miners swimming in cash and new demand from electric vehicles mean once-overlooked metals like lithium and cobalt are grabbing the spotlight. But it’s not all blue skies, as the industry grapples…

Iron Ore Exports Hit Record as Barclays, Goldman Spar on Outlook

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LAGOS (Capital Markets in Africa) – The global iron ore industry got off to a very strong start in 2018 with record exports from key shippers just as Barclays Plc and Goldman Sachs Group Inc. duel about whether high prices will last amid a debate about prospects for demand in China and rising mine supply. Exports from Australia’s Port Hedland were 41.1 million metric tons in January, according to the Pilbara Ports Authority. That’s a record for the…

This Stock Proves How Much Egyptians Love Their Cigarettes

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CAIRO (Capital Markets in Africa) – If money talks, the relationship between Egyptians and their cigarettes won’t be changing any time soon. Shares of Cairo-based Eastern Tobacco, which holds a monopoly on cigarette production in Egypt, have hit successive record highs, in both dollar and local-currency terms, after the company posted an increase of almost 161 percent in first-half profit. Eastern Tobacco has been on a upward trend since Egypt let its currency float freely…

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