News

LAGOS (Capital Markets in Africa) – Nigeria was given permission to appeal by a London judge in its $9.6 billion legal dispute with Process & Industrial Developments over a failed 2010 gas deal. P&ID, an Irish-run firm backed by hedge fund manager VR Capital Group Ltd., has won a series of legal rulings and is seeking to enforce an arbitration judgment now worth nearly $10 billion Nigeria, which wants to overturn the award, has begun…

LAGOS (Capital Markets in Africa) – Bill Gates, who knows a thing or two about antitrust investigations, doesn’t think it’s a good idea to break up the biggest U.S. tech companies as some politicians have suggested. The Microsoft Corp. co-founder and former chief executive officer battled the Justice Department for years in the late 1990s in a bruising antitrust case. At issue was the software giant’s bundling of its Internet Explorer browser to Windows as a way to…

LAGOS (Capital Markets in Africa) – Uber Technology Inc. is planning to launch its boat business in Lagos, Nigeria’s commercial capital and biggest city, to beat traffic congestion. The ride-hailing service company is in talks with the Lagos state government and regulatory authorities to start Uber Boats services on its waterways, Uber’s Chief Business Officer Brooks Entwistle said Thursday in an interview. “We know the traffic is a priority and we think we can help there,” Entwistle said….

LONDON (Capital Markets in Africa) – The weirdest thing that’s happened in markets this week is the fact that we’re talking about Bitcoin and other cryptocurrencies again after a sudden surge in prices late on Monday night. So is this the beginning of a new Bitcoin spring or just a blip? Obviously I have no idea, but there are two things that jump out when looking at the market action. Literally every coin basically climbed at the…

ABIDJAN (Capital Markets in Africa) – In a cramped office in his parents’ backyard in Ivory Coast, Joseph-Olivier Biley is dreaming up solutions to Africa’s farming challenges. His answer: drones. The 25-year-old and his team of graduates from across the continent have spent a year developing and testing technology they say can help boost yields, improve crop forecasts and solve longstanding land-ownership issues in the world’s largest cocoa-producing nation. The drones are used to create…