Finance

LONDON (Capital Markets in Africa) — An international deal to agree on new rules on corporate taxation is within reach, U.K. Chancellor of the Exchequer Rishi Sunak said, offering the prospect of fresh clarity for businesses operating digitally across borders. “Digitalization has brought enormous benefits to consumers and businesses, but it’s also highlighted that the current international tax framework just isn’t fit for purpose,” Sunak told a Bloomberg event on Tuesday alongside his Italian counterpart, Daniele…

LAGOS (Capital Markets in Africa) — Having stunned the market with its audacious bet on Bitcoin earlier this year, Tesla Inc. will now start accepting the world’s largest electronic currency as payment for its electric cars. Chief Executive Officer Elon Musk on Wednesday tweeted that “you can now buy a Tesla with Bitcoin” and that paying by Bitcoin will also be available to customers outside the U.S. later this year. He added that Tesla will only use…

LAGOS (Capital Markets in Africa) — A bond designed to raise funds to grow the population of endangered black rhinoceros in South Africa will be sold by the World Bank this year. The five-year, 670 million rand ($45 million) security will be the world’s first wildlife conservation bond and the aim is to sell it in the middle of the year. Returns for investors will be determined by the rate of growth of the populations…

LAGOS (Capital Markets in Africa) – African countries should focus on green investments in energy for a green recovery in the aftermath of the deadly coronavirus pandemic, William Lugemwa, Director of the Private Sector Development and Finance Division at the Economic Commission for Africa (ECA) said Sunday, adding placing investments in sustainable energy among the central recovery goals was critical. In remarks during a side event at the 53rd Session of the Commission and 2021…

NEW YORK (Capital Markets in Africa) — There are few easier ways to make a quick buck in America today than flipping houses. The real-estate market is red hot, profits on flips are at a record high — some $66,000 on average per home — and throngs of HGTV-inspired wannabes have been piling into the business for months. And now, America’s financiers are too. There are more than 60 banks and other firms financing flippers…

“Without flexibility, Nigeria will face difficulties integrating large amounts of renewable energy into the grid” As the largest economy in Africa, with huge gas reserves and high solar energy potential, Nigeria has all the natural resources necessary to meet the growing demand for electricity. However, the inadequate energy infrastructure still leaves a significant part of the population without power or relying on oil-fired back-up generators. If Nigeria can improve its energy infrastructure and unlock its…