The Editorial Team |

Life Healthcare Said to Weigh Sale of India Hospital Chain Stake

JOHANNESBURG (Capital Markets in Africa) – Life Healthcare Group Holdings Ltd., the second-largest private hospital owner in South Africa, is considering a sale of its stake in India’s Max Healthcare Ltd., people with knowledge of the matter said. The Johannesburg-based company is working with Barclays Plc to explore potential interest in its holding in Max Healthcare, which is one of India’s largest private hospital chains, the people said. Life Healthcare and Mumbai-listed Max India Ltd. each own 49.7 percent…

IBM, Comcast Ventures Back Fund for Blockchain Business Startups

Posted on by The Editorial Team

LAGOS (Capital Markets in Africa) – International Business Machines Corp. and Comcast Corp.’s venture arm will become the largest supporters of an investment fund for startups that help corporations use blockchain, the digital ledger that’s become a hot technology. The startup accelerator, called MState, plans to invest $25,000 to $50,000 apiece in five or six companies over the next six months, co-founder Rob Bailey said in a phone interview. MState, with locations in New York and…

Angola Joins Long List of Oil Nations in Ditching Dollar Peg

Posted on by The Editorial Team

LUANDA (Capital Markets in Africa) – Angola is poised to become the latest emerging nation to abandon its currency peg as it seeks to rescue an economy still reeling from the oil-price crash four years ago. The southern African nation, an OPEC member, said this week it would let the kwanza trade within a new band. The rate at which it’s been fixed against the dollar since April 2016 “does not reflect the truth,” according to Jose Massano, who…

World’s Biggest Bond Losers Reward Investors Betting on Rebound

Posted on by The Editorial Team

LAGOS (Capital Markets in Africa) – Money managers gunning for the best emerging-market bond returns this year may want to consider the biggest losers of 2016 and 2017. History suggests that the worst-performing sovereign debt over a 12- or 24-month horizon is often prone to a sharp reversal as prices revert back to fair value. Take for example Barbados and Turkey. They rebounded from posting some of the worst returns of 2013 to lead the…

Kenya President Keeps Treasury Chief as He Builds Government

Posted on by The Editorial Team

NAIROBI (Capital Markets in Africa) – Kenyan President Uhuru Kenyatta retained his Treasury and energy chiefs as he begins building a government with the task of reuniting East Africa’s biggest economy after months of electoral uncertainty. Treasury Secretary Henry Rotich and Energy Secretary Charles Keter will remain in their posts, as will the head of the Tourism Ministry, Najib Balala, and Information and Communications Secretary Joseph Mucheru. Kenyatta also named Fred Matiang’i as interior minister in a televised address on Friday,…

Kenyan Central Bank Agrees to SBM’s Offer for Chase Bank

Posted on by The Editorial Team

NAIROBI (Capital Markets in Africa) – Kenya’s central bank said it agreed to a deal in which SBM Holdings Ltd., the second-biggest lender in Mauritius, will purchase some assets of distressed Chase Bank Ltd. The offer will ensure the transfer of 75 percent of the value of deposits that had been locked in receivership and the retention of staff and branches of Chase Bank, which went under in April 2016. The lender has been under the…

Chad Plans Salary Cuts as It Battles to Service Glencore Loan

Posted on by The Editorial Team

CHAD (Capital Markets in Africa~) – Chad plans to reduce the salaries of some civil servants by almost half as the country battles to meet debt commitments. The proposed cuts of 5 percent to 45 percent for some public-sector workers will enable the landlocked nation to comply with a wage ceiling agreed under a bailout with the International Monetary Fund, Finance Minister Abdoulaye Sabre Fadoul told reporters Thursday in the capital, N’Djamena. The Washington-based lender approved…

« 1 … 566 567 568 569 570 … 1,077 »