The Editorial Team |

MTN Appeals to Court to Dismiss $4.2 Billion Turkcell Case

JOHANNESBURG (Capital Markets in Africa) – MTN Group Limited has asked South Africa’s High Court in Johannesburg to dismiss a $4.2 billion damages claim by Turkcell Iletisim Hizmetleri AS, five years after the case was first brought in relation to the awarding of an Iranian license in 2005. Africa’s largest wireless operator by sales denies Turkcell’s allegations that it paid bribes to South African and Iranian officials to secure 49 percent of Irancell Telecommunication Company Services, according…

Liberian President Denies Interfering in Vote for Successor

Posted on by The Editorial Team

MONROVIA (Capital Markets in Africa) – Liberia President Ellen Johnson Sirleaf said allegations that she interfered in the vote to decide her successor were tantamount to hate speech after her own party and those of other contenders accused her of trying to influence the election. The ruling Unity Party said on Sunday it is supporting a request by the opposition Liberty Party that the Supreme Court annuls the October 10 vote result and set a date for…

Nickel Next for Electric Car Boom as Trafigura Turns Bullish

Posted on by The Editorial Team

LAGOS (Capital Markets in Africa) – Glencore Plc and Trafigura Group Pte are often at loggerheads, but one thing they agree on: the nickel market will be transformed by the rise of electric cars. Nickel sulphate, a key ingredient in lithium-ion batteries, will see demand increase 50 percent to 3 million metric tons by 2030, Saad Rahim, chief economist at Trafigura, said in an interview. While other battery metals like cobalt and lithium have more than…

Kenya’s Largest Retailer Nakumatt to Enter Administration

Posted on by The Editorial Team

NAIROBI (Capital Markets in Africa) – Nakumatt Holdings Ltd., East Africa’s largest retailer, is seeking a court order to enter administration as part of a plan to revive its debt-laden business. The Kenyan company will go to court on Nov. 8 for a hearing on the application, which proposes that “business-turnaround professional” Peter Kahi of PKF Consulting Limited be appointed as administrator, according to a statement emailed Monday from the capital, Nairobi. Nakumatt is “optimistic” that…

Deadly Somalia Bombings Highlight Failed Bid to Quash Al-Shabaab

Posted on by The Editorial Team

MOGADISHU (Capital Markets in Africa) – Three deadly bomb attacks in Somalia’s capital this month have highlighted the failings of a decade-long international effort to quash an al-Qaeda-linked insurgency in one of the world’s poorest countries. While African Union troops helped the federal government drive the Islamist group known as al-Shabaab out of Mogadishu in 2011, the group has continued to stage assaults in the city. The U.S. blamed it for the country’s deadliest-ever attack — an Oct….

Tanzanian Opposition Leader Arrested for Inflammatory Speech

Posted on by The Editorial Team

DAR ES SALAAM (Capital Markets in Africa) – Tanzanian police arrested the leader of the opposition Alliance for Change and Transparency after he gave a speech about the current state of the country’s economy. The authorities detained Zitto Kabwe on Tuesday and he’s currently being questioned about the speech he made on Oct. 29 in Dar es Salaam, the commercial capital, Abdallah Khamis, the ACT’s spokesman, said by phone. The party’s lawyers are trying to…

South Africa Business Fears Political Limbo If ANC Vote Stalls

Posted on by The Editorial Team

JOHANNESBURG (Capital Markets in Africa) – South Africa’s main business group fears the country will be stuck in political limbo if infighting causes the ruling party’s elective conference in December not to go ahead. The race to succeed President Jacob Zuma as leader of the African National Congress is widely seen as a head-to-head contest between his deputy, Cyril Ramaphosa, and Nkosazana Dlamini-Zuma, the leader’s ex-wife and former chairwoman of the African Union Commission. The battle has grown fractious…

« 1 … 603 604 605 606 607 … 1,076 »