Cedi Set for Worst Weekly Drop Since 2019 as Ghana Decides Rates

Cedi Set for Worst Weekly Drop Since 2019 as Ghana Decides Rates

ACCRA (Capital Markets in Africa) – Ghana’s currency extended its decline Wednesday, heading for its worst weekly drop in more than three years before an emergency central bank meeting to decide on borrowing costs. The cedi dropped 1.1% at 10:06 a.m. in Accra, extending its fall this week to 5.2%. That’s the worst decline since the seven-day period ending March 29, 2019.The cedi has plunged 35% this year making it the world’s worst-performing currency after…

Read More

Cyber criminals’ eye South African SMEs lack of security

Cyber criminals’ eye South African SMEs lack of security

JOHANNESBURG (Capital Markets in Africa) –  Despite the significant risks, SMEs seem reluctant to take the same digital preventative measures to secure their IT infrastructure as they would to protect their office equipment or company-owned vehicles. Just as a business owner wouldn’t underinsure a tangible business asset such as a factory, SMEs shouldn’t leave their digital assets unlocked and in plain sight of criminals. In a business environment where every cent counts, preventative measures must…

Read More

Verdant Capital, a proud supporter and sponsor of AFSIC – Investing in Africa

Verdant Capital, a proud supporter and sponsor of AFSIC – Investing in Africa

Verdant Capital is a specialist corporate finance firm with exceptional experience transacting across the African continent. Verdant Capital is an investment manager and investment bank specialising in private credit and private equity. Verdant’s sectors of expertise include tech, inclusive financial institutions, telecoms, agri-business and manufacturing. Verdant Capital’s investment management business focuses on financial institution while their investment banking business has experience in financing most business sectors in Africa and can assist clients across a range of business…

Read More

Total focus on renewables and gas is the cheapest way to meet Mozambique’s new electricity demand

Total focus on renewables and gas is the cheapest way to meet Mozambique’s new electricity demand

MAPUTO (Capital Markets in Africa) – To meet its growing energy needs and increase electricity access across the population, Mozambique must build 1.3 GW of new power capacity over the next decade. A further 2 GW would be needed to support the planned development of the Beluluane Industrial Park in the Maputo province. The challenge facing policy makers today is to identify and develop an optimal energy mix at the lowest total cost to service…

Read More

Saudi Prince Seals $7.7 Billion in Egypt Deals at Start of Tour

Saudi Prince Seals $7.7 Billion in Egypt Deals at Start of Tour

CAIRO (Capital Markets in Africa) – Egypt and Saudi Arabia signed almost $8 billion in deals as the oil-rich kingdom’s crown prince began a Middle East tour aimed at promoting his role as a regional power-broker.   The two nations signed 14 investment pacts valued at $7.7 billion, Egyptian state-run Middle East News Agency reported Tuesday, covering sectors including renewables, pharmaceuticals and e-commerce.  Among them was an agreement with ACWA Power to generate and transfer…

Read More

Musk Says Bots Are a Problem for Twitter Deal, Not China

Musk Says Bots Are a Problem for Twitter Deal, Not China

LAGOS (Capital Markets in Africa) – Elon Musk cautioned there are a number of issues to iron out before he can complete his $44 billion takeover of Twitter Inc., including getting an accurate measure of bots on the social media platform and completing financing for the deal. The proportion of fake, spam and bot accounts on the service is “still a very significant matter,” Musk said in an interview with Bloomberg News Editor-in-Chief John Micklethwait at the…

Read More

‘Jackpot’ Oil Discoveries May Help Namibia Double GDP by 2040

‘Jackpot’ Oil Discoveries May Help Namibia Double GDP by 2040

NAMIBIA (Capital Markets in Africa) – Namibia expects its biggest oil discoveries since independence to help double its economy by 2040, Jennifer Comalie, chairperson of National Petroleum Corp. of Namibia, said in a Bloomberg TV interview. TotalEnergies SE in February said it had made a “significant” oil discovery off the coast of Namibia, three weeks after Shell Plc announced a find off the southwest African nation. Explorers have drilled more than a dozen exploration wells in search of…

Read More
1 9 10 11 12 13 187