The Editorial Team |

Telkom Says South Africa Mulling Sale of Up to $1 Billion Stake

JOHANNESBURG (Capital Markets in Africa) – Telkom SA SOC Ltd. said the South African government is considering various options regarding its 39 percent stake in the fixed-line operator as it seeks to raise cash to bail out the country’s unprofitable national airline. The state’s shares in the former telecommunications monopoly are worth about 13 billion rand ($996 million). Lawmakers are in talks with government-owned companies including the Industrial Development Corp. and the Public Investment Corp. to…

Coors-Led Fund Buys Africa’s Largest Sushi-Grade Trout Farm

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JOHANNESBURG (Capital Markets in Africa) – One Thousand & One Voices LLC, a private-equity fund started by the great-grandson of the founder of Coors Brewing Co., said it bought a producer of sushi-quality trout that is the largest such facility in Africa. SanLei’s operations are on the Katse Dam in Lesotho, an enclave surrounded by South Africa, 1K1V, as the fund is known, said in an emailed statement Tuesday. The company didn’t disclose the value of…

Cryptocurrencies Are New Barbarians at the Gate of Central Banks

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LAGOS (Capital Markets in Africa) – When the cryptocurrency Exio Coin starts a round of fundraising on Sept. 7, its founders say the unit will come with a unique distinction: the first to be endorsed by a sovereign nation. The identity of the government backer won’t be revealed until October, and Bloomberg News has no way of verifying the claim of support. According to co-founder Sunny Johnson though, the supporter is one of “the world’s richest countries” on a…

Libya’s Roller-Coaster Oil Output Hit Takes the Heat Off OPEC

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LAGOS (Capital Markets in Africa) – Libya’s oil production has dropped by 361,000 barrels a day, equal to 35 percent of output last month, taking some of the heat off of OPEC’s struggle to reduce a global glut. The North African country’s lost production is worth $160 million since Aug. 19 as “gangsters” took over pipelines and facilities that forced the shutdown of the Sharara field, the nation’s biggest, and the Hamada and El Feel, or…

Cash-Burning Activist Sets West Africa’s Social Media Alight

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LAGOS (Capital Markets in Africa) – A West African activist who burned a bank note to demonstrate his hatred of the regional CFA franc has reignited a decades-old debate and prompted thousands of supporters in former French colonies to turn to social media and demand that the currency be scrapped. The French-Beninese national, Kemi Seba, appeared in court in Senegal in connection with a video that showed him setting a bank note of 5,000 CFA francs…

Tanzania Invites Tenders for Africa’s Fourth-Biggest Hydro Plant

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DAR ES SALAM (Capital Markets in Africa) – Tanzania invited bids for the construction of a $2 billion hydro-power plant that will rank as the fourth-biggest in Africa. The proposed Stiegler’s Gorge Project will be built on the Rufiji River in eastern Tanzania with a minimum capacity of 2,100 megawatts, the Energy Ministry said in tender documents emailed from the commercial capital, Dar es Salaam, on Wednesday. Bids must be submitted by Oct. 16 and the facility…

Kenya Opposition Says Audit of Electoral System Shows Misuse

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NAIROBI (Capital Markets in Africa) – Kenya’s main opposition group said an audit of the electoral authority’s computer servers found they were accessed by “anonymous users” and that there’s no trace of data being submitted by polling stations in this month’s presidential election. The National Super Alliance also alleged in documents submitted to the Supreme Court on Tuesday that scrutiny of the Independent Electoral & Boundaries Commission servers showed Chairman Wafula Chebukati’s account was “used…

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