The Editorial Team |

Naspers’s MultiChoice to Probe Contract With Gupta TV Channel

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…

Israeli Investor Said to Withdraw Zambia Mining Stake Bid

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LUSAKA (Capital Markets in Africa) – Sapir Capital, an Israeli private-equity firm, has withdrawn an offer to buy a stake in Zambia’s state-owned mining holding company for more than $100 million, according to two people familiar with the situation. Sapir canceled the offer after delays in the transaction but is still in informal talks with the government over a potential deal, said one of the people, who asked not to be identified as the information isn’t…

U.K. Retailer’s Struggle Sparks Warning on `Flawed’ Derivatives

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LONDON (Capital Markets in Africa) – The $11 trillion market for credit derivatives is coming under renewed criticism in Europe because of concerns that one of the region’s riskiest companies is heading for a debt restructuring that could expose shortcomings in default insurance. Hedge fund Sona Asset Management and JPMorgan Chase & Co. have flagged risks from a possible restructuring by U.K. retailer New Look because of flaws in the way credit-default swaps are designed to compensate for losses. The…

Nasdaq Is Said to Plan Bitcoin Futures, Joining Biggest Rivals

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LAGOS (Capital Markets in Africa) – Nasdaq Inc. plans to introduce bitcoin futures next year, according to a person familiar with the matter, becoming the third major U.S. exchange to attempt to dive into the red-hot market for cryptocurrencies. The New York-based exchange aims to introduce the products as early as the second quarter, according to the person, who asked not to be named discussing a private matter. The contracts will trade on Nasdaq’s NFX market,…

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