The Editorial Team |

Bitcoin Heads to Wall Street Whether Regulators Are Ready or Not

LAGOS (Capital Markets in Africa) – Two U.S. exchanges, including the parent of the venerable Chicago Mercantile Exchange, are racing to embrace bitcoin, dragging federal regulators into a realm skeptics call a fad and fraud. The development shows how some big financial players are moving to co-opt the volatile cryptocurrency and lure more mainstream investors into the market, even before regulators have agreed on just what bitcoin is. CME Group Inc.’s contracts will debut Dec. 18. Cboe…

The Cobalt Crunch for Electric Cars Could Be Solved in Suburbia

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KINSHASA (Capital Markets in Africa) – Almost 9,000 miles from the dusty Congo savanna, miners have hit on an entirely new source of cobalt — the rare mineral at the heart of the electric-car boom. And not only can they take coffee breaks, when they take a break, they can grab a donut at Tim Hortons. Scientists working for American Manganese Inc., located in the suburbs of Vancouver, have developed a way to produce enough…

Angola Raises Key Rate to Record-High 18% on Inflation Concerns

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LUANDA (Capital Markets in Africa) – Angola’s central bank raised its benchmark interest rate to a record 18 percent as it seeks to counter inflation and support the kwanza. The key rate was increased from 16 percent, Luanda-based Banco Nacional de Angola said on Thursday after a meeting of the monetary policy committee. “The bank paid particular attention to the evolution of prices in the economy, having observed an acceleration in inflation,” the MPC said in a…

Naspers’s MultiChoice to Probe Contract With Gupta TV Channel

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JOHANNESBURG (Capital Markets in Africa) – Naspers Ltd. pay-TV unit MultiChoice started an investigation into whether there was any evidence of wrongdoing regarding its contract with ANN7, a 24-hour South African news channel formerly owned by the politically connected Gupta family. Africa’s biggest company by market value was responding to allegations in local media that MultiChoice had a corrupt relationship with ANN7, which Gupta-controlled Oakbay Investments sold along with other South African media interests earlier this…

Zimbabwe’s President Names Cabinet, Shuns Opposition

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HARARE (Capital Markets in Africa) – Zimbabwe’s new president appointed a cabinet that sees Patrick Chinamasa return as the southern African nation’s finance minister and the opposition excluded as the government returned party loyalists to power along with generals weeks after a military coup. President Emmerson Mnangagwa appointed Winston Chitando as mines minister, Major General Sibusiso Moyo, who announced the coup on national television, will lead foreign affairs and Ziyambi Ziyambi will take on the justice portfolio, Cabinet Chief Secretary…

Facilitating Cross-Border Capital Flows to Grow the China Green Bond Market

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LONDON/SHANGHAI: Climate Bonds Initiative and the Lujiazui Green Finance Development Committee will today launch. This groundbreaking new report explores the challenges of increasing inter-country capital flows into China’s green bond market and puts forward potential measures and solutions to facilitate capital investment that supports the expansion of green finance and the green bond market. Produced in partnership with China Chengxin Credit Rating Group (CCX) and with the support of the Foreign and Commonwealth Office (FCO)…

Naspers Targets Growth in Food to Cut Value Gap With Tencent

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JOHANNESBURG (Capital Markets in Africa) – Naspers Ltd. is planning to invest more in businesses including food delivery to help narrow the valuation gap between Africa’s biggest company and its stake in Chinese internet giant Tencent Holdings Ltd. The 33 percent shareholding in the Shenzhen-based company is worth about $166 billion, while Naspers itself is valued at $124 billion. There’s no reason for a discount at this “unusually high level,” Chief Financial Officer Basil Sgourdos said in…

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