The Editorial Team |

Moody’s Sees South Africa-SAA Bailout Plan as `Moral Hazard’

JOHANNESBURG (Capital Markets in Africa) – South Africa’s potential bailout of the state-owned airline could place pressure on the nation’s finances because other government-run companies that are cash-strapped and mismanaged may come to expect the same, Moody’s Investors Service said. “It generates moral hazards because then larger state-owned enterprises see it and there perhaps will be the perception that the government will always come and bail out, without reforms,” Zuzana Brixiova, Moody’s senior vice president for sovereign…

Kenyan Electoral Body in Talks With Parties on Vote Deadlock

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NAIROBI (Capital Markets in Africa) – Kenya’s electoral body held talks with opposition and ruling party officials as it seeks an agreement on how to handle the rerun of last month’s botched presidential vote, as a standoff between the three sides threatens to trigger a constitutional crisis. The meeting in Nairobi, the capital, sought to set a “framework of issues for discussions at subsequent talks” between the electoral body and the rival political parties, Norman Magaya,…

Uganda Bans Some Live Broadcasts as President-Age Debate Likely

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KAMPALA (Capital Markets in Africa) – Ugandan authorities told broadcasters to stop airing some live coverage as the East African nation nears a parliamentary debate on a constitutional amendment that would let President Yoweri Museveni attempt to extend his three-decade rule. The Uganda Communications Commission directed all broadcasters to refrain from airing “live feeds which are in breach of the minimum broadcasting standards,” according to a statement published on Twitter by NBS Television, a local channel. The…

Coca-Cola Nigeria Will Spend $600 Million on New Products

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LAGOS (Capital Markets in Africa) – Coca-Cola Co.’s Nigerian operation will invest $600 million by 2020 to boost sales, in line with a global strategy to extend the product range beyond its soft drinks. The unit of the Atlanta-based beverage maker plans to expand its offering of drinks to include flavoured and condensed milk, iced tea and bottled water to meet demand in Africa’s most populous country, Peter Njonjo, the president of the West Africa operation,…

SBM of Mauritius Eyes Kenyan Banks, Plans Nigerian Expansion

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PORT LOIUS (Capital Markets in Africa) – SBM Holdings Ltd., Mauritius’s second-largest lender, plans more acquisitions in Kenya as it seeks to become one of the country’s top 10 banks within the next three years before expanding into West Africa. The bank, which obtained a license to begin operating SBM Kenya Ltd. in May, expects to have its systems and staff in place by December, Advisor to the Board of Directors & Group Lead Executive Moses Harding…

Biggest Expat Salary Increases Found in Alps, Arabian Desert

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LAGOS (Capital Markets in Africa) – Expatriates moving to Switzerland — home to some of the biggest private banks, commodity traders and pharmaceuticals companies — earn an average of more than $193,000. That’s the highest in the world and 54 percent more than if they’d stayed at home, a study published Wednesday by HSBC Holdings Plc shows. That boost in remuneration is only surpassed by the 58 percent increase enjoyed by expats relocating to Saudi Arabia’s petrodollar economy. Switzerland leads…

Polish Malls a Big Attraction for South African Property Fund

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JOHANNESBURG (Capital Markets in Africa) – The first South African property fund to bet on the Polish market says it’s just the beginning. Redefine Properties Ltd., a Johannesburg-listed real estate investment trust, wants its Echo Polska Properties NV unit to double its Polish shopping-center portfolio in the next three years, Chief Executive Officer Andrew Konig said in an interview in Warsaw. The fund will seek to expand via opportunistic purchases of established malls to avoid the risk of…

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