Features | - Part 145

How Saving Steinhoff Became Heather Sonn’s 14-Hour-a-Day Mission

JOHANNESBURG (Capital Markets in Africa) – Chairwoman seeks a ‘fair outcome’ for stakeholders after accounting scandal brings giant retailer to the brink Until December, Heather Sonn was running a small investment firm in Cape Town. Then an accounting scandal erupted at Steinhoff International Holdings NV and she was tapped to chair the board. The 46-year-old says she accepted the non-executive role because she felt a duty to those affected by the crisis, which has wiped more than 95…

Bank of England Steps Up Research on Digital Currency Effects

Posted on by The Editorial Team

LAGOS (Capital Markets in Africa) – Central-bank issued digital currencies could help the transmission of monetary policy, according to a Bank of England report. “Monetary policy would be able to operate much as it does now, by varying the price or quantity of central bank money, and that transmission may even strengthen for a given change in policy instruments,” said the working paper, published on Friday and written by researchers including Jack Meaning and Emily Clayton. A…

Ivory Coast Is Said to Near $530 Million Thermal-Power Deal

Posted on by The Editorial Team

ABIDJAN (Capital Markets in Africa) – Ivory Coast is close to completing a deal with the local unit of France’s Eranove SA for the construction of a thermal-power plant that could expand the country’s generation capacity by almost a fifth, according to two people familiar with the matter. The 300 billion CFA franc ($530 million) gas-fired facility will be owned by Cie Ivoirienne de Production d’Electricite, known as Ciprel and operator of the West African nation’s biggest…

MRPDA Amendment Bill: Key Amendments for the South African Oil and Gas Industry

Posted on by The Editorial Team

LAGOS (Capital Markets in Africa) – The principal South African upstream oil and gas legislation, the Mineral and Petroleum Resources Development Act, 28 of 2002 (MPRDA), has been in flux since 2013 when the first draft the Mineral and Petroleum Resources Development Amendment Bill, 15 of 2015 (the Bill) was published. On 16 December 2015, following the Bill’s passage through the South African National Assembly (the lower house of Parliament), the President exercised the power…

Nigerian Oil and Gas Sector: Regulations and Incentives

Posted on by The Editorial Team

LAGOS (Capital Markets in Africa) – Nigeria is currently facing significant challenges in its petroleum industry because of the volatility of oil prices1, pipeline vandalism and illegal refining. It is clear that the country must reduce its reliance on crude oil income by developing its midstream and downstream sectors and leveraging on its natural gas reserves. The existing petroleum regulatory framework however discourages investment in the sector and has proved to lack the requisite comprehensiveness…

Mozambique Oil and Gas: Regulations and Opportunities

Posted on by The Editorial Team

LAGOS (Capital Markets in Africa) – Mozambique has being recently placed among the global major players in the oil & gas sector. This new position is due to significant natural gas discoveries in the country’s northern Rovuma Basin. Despite having activity in the hydrocarbons sector for many decades, just in 2012 these massive offshore started to transform Mozambique’s reality. They added ambitious expectations to the country to become a key player in the LNG global…

Gabon 2018 Hydrocarbons Law Reform: Appetite for New Incentive

Posted on by The Editorial Team

LAGOS (Capital Markets in Africa) – Gabon is a Central African country based in the Gulf of Guinea, located on the Atlantic side of the African continent and crossed by the equator. Gabon became independent in 1960 and has since developed a stable and peaceful environment attracting major international investors for, in particular, oil and gas, mines, forests, agro-industry which remain the main sources of revenue for Gabon. Gabon is among the top five crude…

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