Business | - Part 2

Investment | ShowMax Expands to 36 African Countries in Challenge to Netflix

Johannesburg, South Africa, Capital Markets in Africa: Naspers Limited, Africa’s biggest company by market value, expanded its video-streaming service ShowMax into 36 new sub-Saharan African countries in a challenge to Netflix Inc., which is also growing in the region. The new markets went online Friday, bringing ShowMax’s availability globally to 65 countries, the company said in an e-mail. The service started in August. Naspers, which has a market value of $57 billion and is Africa’s largest…

Investment | DuPont Plans to Double Its African Seed Business in Five Years

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LAGOS, Nigeria, Capital Markets in Africa: DuPont Company plans to more than double its African seed business, excluding the mature South African market, over five years as governments and farmers on the least-developed continent seek to boost crop yields, a director of the company’s Pioneer unit said. “From a revenue perspective we’re aiming for over 20 percent in terms of the compound annual growth rate,” Prabdeep Bajwa, the African regional business director for Pioneer, said in…

Nigeria – FX concerns hit business sentiment

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LAGOS, Nigeria, Capital Markets in Africa — The Standard Chartered-MNI Business Sentiment Indicator (BSI) for Nigeria fell to 59.2 in February, its lowest level since February 2015. Seasonal factors seem to have been partly at play, as activity slows in January and February following an increase over Christmas. However, concerns about the exchange rate also continue to weigh on sentiment. Nigerian businesses were concerned about current business conditions, as the economy continues to be pressured…

Doing Business in South Africa Can Be Made Easier Says World Bank Report

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Pretoria, South Africa (Capital Markets in Africa) —A new World Bank Group report assessing the business environment and state of regulations for domestic firms in South Africa finds that local entrepreneurs face a wide array of business obstacles depending on which city they establish their companies in the Republic. The report also highlights a number of constructive practices that can be better leveraged within the country to improve the business climate for local entrepreneurs and…

JSE delivered a strong performance in 2014

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The Johanneburg Stock Exchange (JSE) delivered a strong performance in 2014, making it more difficult for competitors to take on the local stock exchange, rated the 19th largest in the world. The JSE, as it stands, continues to be a profitable organisation, and in 2014 earnings per share rose 25% to 742.4c. Group earnings before interest and tax increased 22% to R704m. An ordinary dividend of 400c per share and a special dividend of 80c…

Nestle Nigeria slows capex as consumers feel devaluation pinch

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LAGOS (Reuters) – Nestle Nigeria’s chief executive expects the firm’s capital expenditure to slow to its lowest level in five years after a currency devaluation dampened customer spending in Africa’s biggest economy. Dharnesh Gordhon told Reuters Africa Investment Summit that consumers in Africa’s most populous nation were suffering from the devaluation triggered by a sharp drop in the price of oil, Nigeria’s main export. A raging Islamist insurgency in the north had also limited the…

Egypt expects LNG deals with Shell and Total in new bid round

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* New LNG deals expected with Shell and Total * BG Group in line to win higher gas payments * New LNG bid round/talks to start by mid-year By Oleg Vukmanovic and Shadi Bushra March 2 (Reuters) – Egypt expects to agree additional liquefied natural gas (LNG) import deals with Shell and Total, and is close to paying BG Group more for the gas it produces offshore, its oil minister said on Monday. Sherif Ismail…

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