Money Market

Mobile-Money Growth Fuels Safaricom’s 20% Jump in Profit

Posted on by The Editorial Team
Mobile-Money Growth Fuels Safaricom’s 20% Jump in Profit

NAIROBI (Capital Markets in Africa) – Safaricom Plc.’s profit grew 20 percent in the six months to end-September, underpinned by money-transfer income and even as growth in mobile-data sales slowed. Profit at East Africa’s biggest company by market value came in at 31.5 billion shillings ($309.6 million) while service revenue grew almost 8 percent to 118.2 billion shillings. While mobile-data sales climbed 11 percent to 19.5 billion shillings, that was slower than the 31 percent…

Read More

Messiest Politics the Best, Emerging-Market Money Manager Says

Posted on by The Editorial Team
Messiest Politics the Best, Emerging-Market Money Manager Says

LAGOS, Capital Markets in Africa: Developing countries experiencing the deepest political turmoil shouldn’t deter investors, because they offer some of the best opportunities, according to the joint head of Old Mutual Investment Group’s emerging-markets unit. “The politics always give us an opportunity,” Siboniso Nxumalo, co-head of Global Emerging Markets at OMIG, told reporters in Johannesburg Wednesday. “The best-performing market in the world this year is Brazil, which had one of the messiest politics. Russia is the second-best…

Read More