Features | - Part 212

PwC Survey: CEO Confidence Rises Despite New Risks, Uncertainty

JOHANNESBURG (Capital Markets in Africa) – Worldwide, CEOs’ confidence levels for their growth prospects and outlook for the economy is back on the rise amidst new risks and uncertainty. In PwC’s (www.PwC.com) 20th annual survey of CEOs worldwide, 38% (2016:35%) are very confident about their company’s growth prospects in the next 12 months while 29% (2016:27%) believe global economic growth will pick up in 2017. Just over one-third (33%) of South African CEOs are very…

Trump Takes Reins of Nation as Divisions Deprive Him a Honeymoon

Posted on by The Editorial Team

WASHINGTON (Capital Markets in Africa) Washington Donald Trump takes the oath of office Friday, a celebration of American unity in a country that is anything but unified. Other presidents have been sworn in on the Capitol steps facing war, economic calamity or domestic social strife. Trump, the only president elected with no prior experience in public or military service, confronts a more fundamental challenge to his leadership. He’s the first president since the dawn of national…

Barrow Sworn in as Gambian President as Ex-Leader Seeks Deal

Posted on by The Editorial Team

BANJUL (Capital Markets in Africa) – Adama Barrow was sworn into office as the president of Gambia at a ceremony in neighboring Senegal as mediators sought to negotiate an amnesty deal with the outgoing leader to stave off military intervention by West African states. Barrow, 51, decided to take his oath at the Gambian embassy in the Senegalese capital, Dakar, after Yahya Jammeh, who lost the presidential election, refused to leave office and called for new elections….

Billionaire Agarwal Says His Anglo American Approach Made Sense

Posted on by The Editorial Team

JOHANNESBURG (Capital Markets in Africa) – Anil Agarwal, the Indian billionaire owner of Vedanta Resources Plc, said a proposed tie up between his Hindustan Zinc Ltd. unit and rival miner Anglo American Plc would have been a good match. Anglo rebuffed informal approaches from Agarwal in the first half of last year when he contacted it to discuss potential ideas including a combination with the Indian zinc miner he controls through Vedanta, people familiar with the…

Nigeria Plan to Link Mines to Steel Mill Seen as Buhari Test

Posted on by The Editorial Team

LAGOS (Capital Markets in Africa) – Nigeria’s plan to build a railway to supply iron ore to its idle Ajaokuta steel plant could be the biggest sign yet that President Muhammadu Buhari is implementing his policy to diversify away from oil. The project began in 1979 with what the World Bank in 2002 called obsoleteSoviet technology, and has never been finished. Authorities want to revive it as part of Buhari’s efforts to lessen the economy’s dependence on crude, which accounts for…

Gambia’s Jammeh Imposes State of Emergency, Defying Region

Posted on by The Editorial Team

BANJUL (Capital Markets in Africa) – Gambian President Yahya Jammeh declared a 90-day state of emergency two days before he’s supposed to hand over power to the winner of last month’s election, as West African nations prepared to send a military force to remove him from power. In a speech on state TV late Tuesday, Jammeh said the measure was necessary because of the “unprecedented and extraordinary amount of interference” in the Dec. 1 ballot. He also…

Africa’s Most Valuable Business Worth Less Than What It Owns

Posted on by The Editorial Team

JOHANNESBURG (Capital Markets in Africa) – Fifteen years ago, a South African media company invested $34 million in an obscure Chinese Internet developer. Today that stake is worth $88 billion. All Naspers Limited, now Africa’s most valuable company, has to do is figure out how to make money from its other properties: The whole company is worth only $72 billion, less than its stake in Shenzhen-based Tencent Holdings Limited. Investors aren’t impressed with Naspers’s operations in pay-TV, newspapers and e-commerce…

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