The Editorial Team |

Global Central Banks Can’t Ignore the Bitcoin Boom, BIS Says

LAGOS (Capital Markets in Africa) – The world’s central banks can’t ignore the growth in cryptocurrencies and may at some point have to consider whether it makes sense for them to issue their own digital currencies, according to the Bank for International Settlements. “Whether or not a central bank should provide a digital alternative to cash is most pressing in countries, such as Sweden, where cash usage is rapidly declining,” the BIS said in its quarterly review….

Rand Merchant Bank Report shows South Africa Drops Position, Nigeria Not Among the Top 10.

Posted on by The Editorial Team

JOHANNESBURG (Capital Markets in Africa) – One of the most important findings of Rand Merchant Bank’s (RMB) seventh edition of Where to Invest in Africa is that the African continent could find itself hovering on the brink of disaster if it continues to depend on its current economic fundamentals and does not usher in economic diversification. Where to Invest in Africa 2018 highlights those countries which have understood the need to adapt to the prolonged slowdown in commodity…

Kenyan Politics Limbo Hinders Central Bank on Currency Risk

Posted on by The Editorial Team

NAIROBI (Capital Markets in Africa) – On Monday, Kenya’s central bank may have little choice but to do what the rest of the country is stuck with: waiting for a rerun of its presidential election. With political limbo reigning since the Supreme Court’s annulment of the previous attempt at a national vote on Aug. 8, officials are left contemplating the effects of prolonged uncertainty on an economy that also faces slowing growth and persistent inflation….

Dangote Cement Approaches South Africa’s PPC About Takeover

Posted on by The Editorial Team

LAGOS (Capital Markets in Africa) – Dangote Cement Plc has approached PPC Ltd. about a takeover deal, signalling the start of a possible bidding war for South Africa’s biggest cement maker after an earlier offer led by Canada’s Fairfax Financial Holdings Ltd. Dangote has told PPC’s board that it’s interested in buying “the entire share capital,” the Lagos-based company said late Wednesday in a statement to the Nigerian Stock Exchange. “This communication is still at the preliminary…

CEO of Africa’s Biggest Fund Manager Fights for His Future

Posted on by The Editorial Team

JOHANNESBURG (Capital Markets in Africa) – Public Investment Corp. Chief Executive Officer Dan Matjila rejected an allegation he misused funds as “spurious” ahead of a board meeting on Friday that could decide his future at the helm of Africa’s biggest money manager. Johannesburg’s Star newspaper reported Thursday that Matjila has been told by PIC Deputy Chairman Xolani Mkhwanazi to respond to an accusation he used PIC funds to finance a personal project related to someone he is allegedly…

Aspen Buys Remaining Rights to AstraZeneca’s Anesthetics

Posted on by The Editorial Team

LAGOS (Capital Markets in Africa) – Aspen Pharmacare Holdings Ltd. is resuming deal making, agreeing to buy more rights to AstraZeneca Plc’s anesthetic medicines for $555 million while reporting full-year profit that beat analysts’ estimates. Earnings per share at Africa’s largest generic-drugs maker climbed 16 percent to 14.63 rand in the year through June, the Durban, South Africa-based company said in a statement on Thursday. Analysts expected 14.61 rand. Sales also increased 16 percent to 41.2 billion rand ($3.1…

Nigeria Signals Oil-Output Cap Needs Six Months of Stability

Posted on by The Editorial Team

LAGOS (Capital Markets in Africa) – Nigeria indicated Wednesday that it won’t be willing to cap its oil production until at least the second quarter of next year, and then only if it’s managed to keep output consistent near its target for six months. The OPEC member, which along with Libya was exempted from a 2016 accord to reduce production to ease a global-supply glut, had previously said that the output limit would come into play…

« 1 … 641 642 643 644 645 … 1,073 »