The Editorial Team |

Blind’ Preparations Seen Stoking Risk of Kenyan Vote Unrest

NAIROBI (Capital Markets in Africa) – Less than a month before Kenyans are due to go to the polls, electoral authorities are behind on everything from printing ballot papers to finalizing a voter list. That risks a disputed outcome and unrest a decade after post-election violence engulfed the East African nation. While the Independent Electoral & Boundaries Commission says the vote will take place Aug. 8, there has been a court appeal over the ballot…

Africa’s Richest Man Invests $4.6 Billion in Nigeria Farming

Posted on by The Editorial Team

LAGOS (Capital Markets in Africa) – Dangote Group, controlled by Africa’s richest man, Aliko Dangote, plans to invest $3.8 billion in sugar and rice and $800 million in dairy production in the next three years as the company seeks to expand and deal with a shortage of dollars in its home market of Nigeria. The conglomerate plans to increase its production of sugar to 1.5 million metric tons a year by 2020 from 100,000 tons now and is…

Etisalat Nigeria CEO Focused on Stabilizing Business Before Sale

Posted on by The Editorial Team

LAGOS (Capital Markets in Africa) – Etisalat Nigeria is concentrating on steadying the business rather than finding a new operator as the struggling mobile-phone company strives to stay afloat after its Abu Dhabi-based former owners defaulted on a $1.2 billion loan. “The biggest thing we have to do is stabilize the business, try and ensure a good top-line, put some level of control on costs,” Chief Executive Officer Boye Olusanya said in an interview at the wireless…

Gabon Seeks Private Partnerships to Boost Processing of Minerals

Posted on by The Editorial Team

Libreville (Capital Markets in Africa) – Gabon, Africa’s second-biggest manganese producer, wants to partner with private companies to process most its minerals locally before exporting them, Mining Minister Christian Magnagna said. Local processing will boost the mining industry’s contribution to gross domestic product from the current 2.1 percent to at least 4 percent as the central African nation seeks to make its economy less dependent on oil, Magnagna said in an interview in the capital, Libreville….

South Africa Graft Ombudsman Won’t Fight Central Bank Court Bid

Posted on by The Editorial Team

JOHANNESBURG (Capital Markets in Africa) – South Africa’s anti-graft ombudsman won’t oppose the Reserve Bank’s court application to review and set aside her instruction to parliament to change the constitution and amend the central bank’s primary role. Public Protector Busisiwe Mkhwebane considered legal advice and decided not to oppose the application the central bank filed on June 28, her office said in an emailed statement on Monday. In a report last month, Mkhwebane instructed the legislature to start…

Huawei Partners With WorldRemit on African Mobile-Money Service

Posted on by The Editorial Team

LAGOS (Capital Markets in Africa) – Huawei Technologies Co. said it will partner with British money-transfer operator WorldRemit Ltd. to let African expatriates send cash home to millions of users of the Chinese company’s mobile-money service platform. The deal will let Huawei and WorldRemit tap into growing demand for remittances from Africans living abroad using mobile-payments services, which are popular in places where banks are scarce or unreliable. All carriers that are Huawei partners can switch on the service,…

World’s Biggest Mobile Carriers Defeated as Africa Promise Fades

Posted on by The Editorial Team

LAGOS (Capital Markets in Africa) – Back when African countries were auctioning off mobile licenses by the boatload to serve the region’s young, tech-savvy population, investing in the continent’s fast-growing economies seemed like a no-brainer. Some of the world’s biggest wireless carriers rushed in. Now they’re wondering if they made a mistake. Increasing government and regulatory scrutiny, as well as a lack of expansion opportunities in sub-Saharan Africa, are making it harder for operators such…

« 1 … 670 671 672 673 674 … 1,073 »