The Editorial Team

Heineken to Buy Distell for $2.5 Billion in Africa Expansion

JOHANNESBURG (Capital Markets in Africa) – Heineken NV agreed to buy South African wine and spirits maker Distell Group Holdings Ltd. for 2.2 billion euros ($2.5 billion), creating a new regional group to compete with larger rival Anheuser-Busch InBev SA and spirits giant Diageo Plc. The Dutch brewer made an offer of 180 rand a share that’s been recommended by Distell’s board, according to a statement on Monday. Heineken will also look to buy a majority stake…

Johnson Faces U.K. Parliament Grilling Over Lobbying Furor

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LONDON (Capital Markets in Africa) – U.K. Prime Minister Boris Johnson is battling a mounting backlash over his attempt to protect a Conservative lawmaker found to have broken lobbying rules, with Parliament set to hold an emergency debate on Monday.Johnson was forced to perform a U-turn following widespread condemnation — including from fellow Tories — of his decision to try to tear up Parliament rules rather than accept the suspension of Owen Paterson, who was found…

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NEW YORK (Capital Markets in Africa) – President Joe Biden and his party notched a huge economic victory late Friday with passage of a bipartisan public works bill. Now he seeks to sell Americans on the merits of $550 billion in new spending even as they face rising prices for fuel, food and housing. The president plans an infrastructure tour over the next several weeks to promote the legislation, including a visit to the Port…

Tesla Falls as Twitter Users Back Musk Selling $21 Billion Stake

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NEW YORK (Capital Markets in Africa) – Tesla Inc. declined after Elon Musk’s Twitter followers voted in favor of selling 10% of his stake in a poll set up by the electric-car chief. A majority of 3.5 million Twitter users — 58% — said they’d support such a sale in a Twitter poll that Musk ran during the weekend. The stake would be valued at about $21 billion based on 170.5 million Tesla shares he…

Crypto World Hits $3 Trillion Market Cap as Ether, Bitcoin Gain

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LONDON (Capital Markets in Africa) – The cryptocurrency market is now worth more than $3 trillion. As of 7:38 a.m. in London, the overall market cap of cryptocurrencies hit $3.01 trillion, according to CoinGecko pricing. The third- and fourth-biggest tokens, Binance Coin and Solana, have added more than 20% in the past seven days; all of the seven biggest coins are up over the last week. Bitcoin rose as much as 5.5% on Monday to $66,339,…

West African Bloc Sanctions Mali’s Transitional Leaders

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ACCRA (Capital Markets in Africa) – The Economic Community of West African States on Sunday imposed sanctions on Mali’s transitional leaders after they informed the regional bloc they would not be able to hold elections in February to return to democratic rule. The sanctions include travel bans and a freeze on financial assets, on all members of the transitional authority and their families, ECOWAS said in a statement after a summit in Ghana’s capital, Accra….

MTN Makes Takeover Approach for South Africa’s Telkom

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JOHANNESBURG (Capital Markets in Africa) – MTN Group Ltd. recently made a takeover approach for Telkom SA SOC in a deal that would’ve combined South Africa’s second and third largest telecommunications operators, according to people familiar with the matter. Telkom has so far shown no interest in a sale, said the people, who asked to remain private as the talks are confidential. It remains unclear whether the larger rival will continue its pursuit, the people…

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