The Editorial Team

E-Naira Lures About Half a Million People Weeks After Its Launch

LAGOS (Capital Markets in Africa) – Nigerian central bank’s digital currency has lured about half a million users three weeks after it was introduced in a move to entice people away from crypto currencies. Adoption rate for the Central Bank of Nigeria digital currency called eNaira “has been excellent,” according to Osita Nwanisobi, spokesman for the Abuja-based lender. More than 488,000 people have downloaded the consumer wallet — that’s needed to transact eNaira — while about 78,000…

Vodacom Considers South Africa Financial Services Unit IPO

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JOHANNESBURG (Capital Markets in Africa) – Vodacom Group Ltd. may consider a separate listing of its financial services business in South Africa to unlock value, seeking to address what Chief Executive Officer Shameel Joosub says is a stockmarket discount to the carrier’s sum-of-parts worth. The overall company, which also includes operations in Tanzania and Mozambique, trades in Johannesburg and could look at whether a carve out of the financial services unit makes sense, he said…

Heineken to Buy Distell for $2.5 Billion in Africa Expansion

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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,…

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