Features

LONDON (Capital Markets in Africa) – Dominic Cummings, the director of the 2016 campaign to get Britain out of the European Union, is one of the most acerbic and divisive figures in British politics. His appointment as one of Boris Johnson’s senior advisers could signal a radical shake-up in Westminster. Cummings was made famous outside political circles earlier this year when he was portrayed by Benedict Cumberbatch in a TV drama about the referendum campaign. It captured his…

JOHANNESBURG (Capital Markets in Africa) – A proposal by the biggest owner of Eskom Holdings SOC Ltd.’s debt to convert its $6.4 billion holding into equity has become a rescue option as South Africa seeks to restructure the troubled power utility. In return, the Public Investment Corp., which manages about $150 billion and is responsible for the pensions of more than 1 million state workers, wants a say over Eskom’s messy finances, including board representation, said…

LONDON (Capital Markets in Africa) – Investors in Neil Woodford’s frozen flagship fund have been prevented from moving their accounts from Hargreaves Lansdown Plc to other investment platforms, according to a competing firm. Woodford shocked the financial world last month when he locked the LF Woodford Equity Income Fund after a run of poor performance. About 133,000 clients have invested a total of just over 1 billion pounds ($1.2 billion) in the fund through the Hargreaves Lansdown platform. The Telegraph newspaper reported the news…