Features | - Part 205

The Fintech Revolution: Driving Innovation in Payment Services

LAGOS (Capital Markets in Africa) – In the current tech-savvy age, it’s refreshing to find that a new revolution is taking place within banking which will mean consumers no longer have to rely on the “old” ways of paying for services. The underlying driver for consumers today is having quick access to their funds, being able to make payments between accounts or simply trying to ensure security and continuity of payment services when paying for…

Gambia Chooses Lawmakers as Leader Seeks Backing for Reforms

Posted on by The Editorial Team

BANJUL (Capital Markets in Africa) – Gambians are going to the polls on Thursday in a parliamentary vote that will be crucial for the new government’s ability to implement reforms after two decades of rule by Yahya Jammeh, the former dictator ousted by West African neighbors in January. President Adama Barrow defeated Jammeh in presidential elections in December with the support of seven political parties that had rallied behind him amid growing discontent with the former leader’s repressive regime. While…

Kenyan Opposition Choice of Odinga May Weaken Presidency Bid

Posted on by The Editorial Team

NAIROBI (Capital Markets in Africa) – The emergence of former Kenyan Prime Minister Raila Odinga, who’s lost three presidential votes, as the opposition’s favored candidate may diminish its chances of unseating Uhuru Kenyatta in elections in August. Odinga, 72, is backed by most members of a technical committee appointed by the opposition National Super Alliance to pick a presidential candidate, a spokesman for the party said by mobile-phone text message on Thursday. The Nairobi-based Standard newspaper reported earlier that Odinga’s…

President Zuma Survives Calls to Quit With Backing From South Africa’s ANC

Posted on by The Editorial Team

JOHANNESBURG (Capital Markets in Africa) – South African President Jacob Zuma survived calls to resign by winning the support of the ruling party following his decision to fire the finance minister and stack the cabinet with loyalists. The rand weakened. The African National Congress won’t vote against Zuma in a no-confidence motion in parliament that the main opposition parties have requested, Secretary-General Gwede Mantashe told a briefing Wednesday in Johannesburg after a meeting of the ANC’s National Working Committee….

Facebook Offers Free Wifi Hotspots to Sustain Nigeria, Kenya Customer Growth

Posted on by The Editorial Team

LAGOS (Capital Markets in Africa) – Facebook Inc. has increased the number of its African users to 170 million and plans to expand further by adding wifi hotspots and laying fiber-optic cables in a bid to spread its reach outside of developed markets. The figure is 42 percent higher than when the U.S. social network first opened an African office in 2015, Carolyn Everson, vice president of global marketing, said in an interview in Johannesburg on Tuesday….

Zuma’s Night of Long Knives Risks ANC Split, Credit Rating

Posted on by The Editorial Team

JOHANNESBURG (Capital Markets in Africa) – South African President Jacob Zuma fired Finance Minister Pravin Gordhan and made sweeping changes to his administration in a high-stakes power play that may threaten his own presidency and place the nation’s investment-grade credit rating at risk. Zuma replaced Gordhan, with whom he feuded over state finances, with Home Affairs Minister Malusi Gigaba, who has no financial or business experience. He also named lawmaker Sfiso Buthelezi to take over from Mcebisi Jonas as deputy finance minister. The…

Hedge-Fund Owner Peregrine Considers Split to Boost Returns

Posted on by The Editorial Team

JOHANNESBURG (Capital Markets in Africa) – Peregrine Holdings Ltd., the operator of South Africa’s oldest hedge fund, is considering a plan to split the company by using profits from its stockbroking and wealth-management units to create a new investment firm. The stock surged the most in a year. The company, which also owns half of advisory business Java Capital, has about 1.5 billion rand ($115 million) of surplus cash on its balance sheet that could be…

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