The Editorial Team |

South Africa’s New Man Has a Daunting Task Pleasing Markets

JOHANNESBURG (Capital Markets in Africa) – Investors got what they wanted in South Africa when Cyril Ramaphosa became the ruling party’s new leader, putting himself in prime position to be the nation’s next president. Now comes the difficult part. He’ll be hard pressed to turn around a struggling economy, avoid more rating downgrades and ease political tensions, according to AllianceBernstein LP and Credit Suisse Group AG. That means the rand will struggle to sustain the 14 percent…

Steinhoff Losing Credit Lines as Accounting Scandal Deepens

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JOHANNESBURG (Capital Markets in Africa) – Embattled retailer Steinhoff International Holdings NV said lenders are starting to cut off support after an accounting scandal swept out its leaders and destroyed most of its value in a matter of days. The owner of Conforama in France, Mattress Firm in the U.S. and Poundland in the U.K. isn’t yet able to assess the magnitude of financial irregularities disclosed two weeks ago, it said in a presentation to lenders in London on…

Ramaphosa’s Narrow ANC Vote Win Cuts Odds of Quick Zuma Ouster

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JOHANNESBURG (Capital Markets in Africa) – Cyril Ramaphosa’s victory in a gruelling battle to lead South Africa’s ruling party may have been the easy part. His narrow win and his allies’ failure to secure three other top posts is likely to delay his ascendancy to the nation’s presidency and plans to revive a stuttering economy. While Ramaphosa won 52 percent of the vote for the top post of the African National Congress, edging out Nkosazana Dlamini-Zuma,…

Opinion Piece : Artificial intelligence (AI) a day …

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LAGOS (Capital Markets in Africa) – One of the greatest benefits of artificial intelligence (AI) to humankind is its influence on the medical field. “Powered by some of the most sophisticated technology, AI is assisting in improving medical diagnosis,” says Anton Jacobs, managing director at African value-added technology distributor, Networks Unlimited. From an AI doctor and chatbot to AI’s powerful applications, machine learning and deep learning, a world that used to be all about coding,…

Investor Demand and Business Activity to Increase as Political Stability Returns to Kenya

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NAIROBI, Kenya, December 17, 2017/ — Kenya is emerging from a protracted presidential election process and seeing a return to political stability. Nonetheless, challenges will persist in 2018 for organizations operating in the country and East Africa more widely. High debt levels in Kenya and unpredictable policymaking in Tanzania are among the key risks for businesses operating in the region in the year ahead, says specialist global risk consultancy Control Risks (www.ControlRisks.com) in its annual…

South Africa Power Price to Rise 5.2%, Less Than Eskom Asked

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JOHANNESBURG (Capital Markets in Africa) – South Africa’s energy regulator gave the state-owned power utility permission to raise its prices by an average of 5.2 percent from April 1, three quarters less than what the cash-strapped company had asked for. Eskom Holdings SOC Ltd., which generates almost all of the nation’s electricity, had asked the National Energy Regulator of South Africa to allow it to increase tariffs by an average of 20 percent. Nersa Chairman Jacob…

Shoprite Deal Unravels as Billionaire Scurries to Save Steinhoff

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JOHANNESBURG (Capital Markets in Africa) – The spectacular collapse in the share price of Steinhoff International Holdings NV is hindering Christo Wiese’s plans to pool his African retail assets. The South African billionaire has had to pull out of a deal that will give Steinhoff Africa Retail Ltd. a 23.1 percent stake and a 50.6 percent voting interest in Shoprite Holdings Ltd., the continent’s largest grocery chain. Steinhoff Africa Retail, or STAR, is now in talks with the manager of…

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