The Editorial Team |

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

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…

Boko Haram Defies Buhari With More Attacks in Northeast Nigeria

Posted on by The Editorial Team

LAGOS (Capital Markets in Africa) – Ten months after Nigerian President Muhammadu Buhari declared a victory over Boko Haram, the Islamist militant group is stepping up attacks in the far northeast of the country. Boko Haram militants deployed at least 80 children as “human bombs” this year, Mark Lowcock, the United Nations under-secretary-general for humanitarian affairs, said on Tuesday in the north-eastern city of Maiduguri, the group’s birthplace. The most spectacular attack occurred in July when the…

Zuma’s Fight to Avoid Trial Goes to South Africa’s Appeals Court

Posted on by The Editorial Team

JOHANNESBURG (Capital Markets in Africa) – South Africa’s Supreme Court of Appeal will consider a case Thursday that may determine whether President Jacob Zuma should stand trial on graft charges that were dropped by the prosecutors eight years ago. Prosecutors probed allegations that Zuma took 4.07 million rand ($310,000) in bribes from arms dealers and brought 783 charges of fraud, corruption and racketeering against him. They scrapped the case a month before he became president in May…

UK New immigration check requirements on banks and building societies: are you prepared?

Posted on by The Editorial Team

LONDON (Capital Markets in Africa) – From 1 January 2018, banks and building societies will be required to undertake quarterly immigration status checks on all existing customer current accounts. Following this, the Home Office may then require the bank (or building society) to close any accounts or products operated by or for a person who does not have leave to remain in the UK. Those subject to the requirements should act now to ensure that…

Kenyan Opposition Says Rerun Delay May Resolve Vote Concerns

Posted on by The Editorial Team

NAIROBI (Capital Markets in Africa) – Kenya’s opposition presidential candidate said the electoral authority should consider delaying the rerun of last month’s annulled presidential vote until the end of October to ensure it’s organized in a credible manner. The date for the election could be adjusted within the 60-day period stipulated by the law to give the electoral body enough time to prepare a fair vote, Raila Odinga, leader of the opposition National Super Alliance, said in…

« 1 … 644 645 646 647 648 … 1,076 »