The Editorial Team |

Tanzania Says Barrick Agrees to Pay Money Owed to Government

DAR ES SALAAM (Capital Markets in Africa) – Tanzania’s presidency said Barrick Gold Corp. is willing to reimburse money that’s owed to the government, after President John Magufuli accused subsidiary Acacia Mining Plc of failing to pay billions of dollars of taxes. Acacia surged as much as 11 percent. Barrick Executive Chairman John Thornton met Magufuli for talks in the commercial capital, Dar es Salaam, on Wednesday, the presidency said in an emailed statement. Barrick confirmed the meeting…

Ghana Leader Favors Constitutional Change to Boost Finances

Posted on by The Editorial Team

ACCRA (Capital Markets in Africa) – Ghana’s President Nana Akufo-Addo said he is in favor of changes to the West African country’s constitution that will allow lawmakers better oversight over public finances. Akufo-Addo, whose National Patriotic Party came into power in January in the world’s second-biggest cocoa producer, is battling rising public debt following a discovery of about 7 billion cedis ($1.6 billion) in unplanned spending by the previous administration of President John Mahama. The new government is…

Wiese’s Brait Seeks Growth in Asia as S. Africa, U.K. Wilt

Posted on by The Editorial Team

JOHANNESBURG (Capital Markets in Africa) – Brait SE, the investment company owned by South African billionaire Christo Wiese, plans to expand its Virgin Active gym chain in the Asia Pacific as it battles difficult operating conditions in its biggest markets, including South Africa and Britain. The stock has dropped for 18 straight days, the longest losing streak on record, and tumbled to a three-year low on Wednesday after the company slid to a full-year loss. Brait…

Alexander Forbes Targets 12% Profit Growth Over Next Five Years

Posted on by The Editorial Team

JOHANNESBURG (Capital Markets in Africa) – Alexander Forbes Group Holding Ltd., a South African provider of retirement, investment and insurance services, plans to as much as double the pace of profit growth over the next five years. The company is targeting an increase in operating profit of 10 percent to 12 percent until 2022, compared with average growth of 6 percent between 2013 and 2017, Chief Executive Officer Andrew Darfoor said in a presentation in Johannesburg on Wednesday….

epic ERP teams up with CentralCloud to roll out cloud-based ERP solution to the African market

Posted on by The Editorial Team

JOHANNESBURG – June 14, 2017 – epic ERP, a value added Epicor enterprise resource planning (ERP) software reseller, has joined forces with CentralCloud to bring clients within Sub-Saharan Africa the flexibility and scalability of an end-to-end, feature rich cloud-based ERP solution. CentralCloud is associated with Alviva Holdings, one of Africa’s largest providers of information and communication technology products and services. “While Epicor cloud-deployed ERP has brought customer success to hundreds of companies globally, epic ERP…

Don’t Fear the Fed, EM Currencies Can Do Well, Societe Generale

Posted on by The Editorial Team

LAGOS (Capital Markets in Africa) – Emerging-market currencies should comfortably ride out coming Federal Reserve monetary tightening, according to Societe Generale SA. The Fed’s slow and steady approach — expectations for hikes beyond Wednesday’s widely expected 25-basis-point move seem “extraordinarily subdued” — ensures that emerging market currencies will feel little impact, and carry trades will remain a viable strategy over the coming quarter, said Jason Daw, SocGen’s head of emerging-market foreign-exchange strategy in Singapore. “EM currencies…

South Africa Business confidence down sharply in the second quarter

Posted on by The Editorial Team

JOHANNESBURG (Capital Markets in Africa) – After hovering in net negative terrain between 32 and 42 index points over the past year, the RMB/BER Business Confidence Index (BCI) collapsed by 11 points to 29 in the second quarter. This means seven out of every 10 respondents are downbeat about prevailing business conditions. We last saw such despondency during the 2009 recession. Striking too is the fact that each of the five sectors covered in the…

« 1 … 685 686 687 688 689 … 1,078 »