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<p>As leaders of the 53 member states gather for the 25th Commonwealth Heads of Government Meeting in London, Kayode Akindele, Partner at TIA Capital joins CNBC Africa to discuss some of the key issues for this year&#8217;s meeting.</p>


Expectations from the Commonwealth heads of government meeting

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<p>Femi Oladehin, Partner, investment Banking, Argentil Capital Partners joins CNBC Africa to discuss debt across West African countries.</p>


Africa’s debt challenge

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<p>Akinyemi Adetunji, Art Director, Artyrama Online joins CNBC Africa to discuss this story and explore art as a form of investment.</p>


Expert tips on how to invest in art

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<p>Moody&#8217;s recently published its Outlook report on Sub Saharan Africa for 2018 and projects a 3.5 per cent GDP growth for the region with a negative outlook.</p>


Moody’s outlook for SSA negative in 2018

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<p>The strategic capital markets partnership between the LSE and NSE aims to strengthen cooperation and promote mutual development between the two exchanges. Oscar Onyema, CEO joins CNBC Africa for more.</p>


NSE’s Oscar Onyema speaks on partnership with LSE

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<p>It&#8217;s been 50 years since the first Automated Teller Machines or ATMs were installed in a London Suburb. It was an innovation that had a radical impact on consumer behaviour.</p>


Importance of understanding your customers’ buying behaviour

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<li class="">Multiple fatalities have been reported after a massive fire engulfed a block of flats in central London.</li>
<li>More than 200 firefighters and as many as 40 fire engines have been sent to the location to tackle the flames, according to London Fire Brigade.</li>
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<div class="source"><a href="http://www.cnbc.com/sam-meredith/" rel="author">Sam Meredith</a> | <span class="twitter-url"><a href="http://twitter.com/@smeredith19">@smeredith19</a></span></div>
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<p><iframe loading="lazy" src="http://player.cnbc.com/p/gZWlPC/cnbc_global?playertype=synd&amp;byGuid=3000627270&amp;size=530_298" width="530" height="298" allowfullscreen="allowfullscreen"></iframe></p>
<p>A massive fire raged through the night at a 24-storey block of flats in central London on Wednesday, with multiple fatalities reported.</p>
<p>London Fire Brigade said over 200 firefighters were on the scene to tackle the major blaze at a tower block in north Kensington, with 40 fire engines also sent to the location.</p>
<p>The fire was first reported shortly after 1.15 a.m. BST, with the Metropolitan Police confirming people were being treated for &#8220;a range of injuries&#8221;.</p>
<p>&nbsp;</p>
<blockquote class="twitter-tweet" data-lang="en">
<p dir="ltr" lang="en">A resident sent me this video they took when they escaped the building around 1:30 am <a href="https://t.co/WdNMQpa2Mv">pic.twitter.com/WdNMQpa2Mv</a></p>
<p>— AssedBaig (@AssedBaig) <a href="https://twitter.com/AssedBaig/status/874855458649014272">June 14, 2017</a></p></blockquote>
<p><script async src="//platform.twitter.com/widgets.js" charset="utf-8"></script></p>
<p>British media reported people trapped in the upper floors desperately screaming for help as the fire spread through the building, which contains 120 homes.</p>
<p>A police update at around 4.00 a.m. BST said Grenfell Tower &#8220;residents continue to be evacuated&#8221;.</p>
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<p dir="ltr" lang="en">We have taken 30 patients to five London hospitals following the fire at <a href="https://twitter.com/hashtag/GrenfellTower?src=hash">#GrenfellTower</a> &amp; we remain on scene <a href="https://t.co/lxfRseAIkg">pic.twitter.com/lxfRseAIkg</a></p>
<p>— London Ambulance (@Ldn_Ambulance) <a href="https://twitter.com/Ldn_Ambulance/status/874859134440673284">June 14, 2017</a></p></blockquote>
<p><script async src="//platform.twitter.com/widgets.js" charset="utf-8"></script></p>
<p>London ambulance service reported at 6.15 a.m. BST that 30 patients have been taken to five hospitals following the incident at Lancaster West Estate.</p>
<p>&#8220;Our priority is to assess the level and nature of injuries and ensure those in the most need are treated first and taken to hospital,&#8221; Stuart Crichton, assistant director of operations at London Ambulance Service, said in a statement.</p>
<p>London Mayor Sadiq Khan, issued a statement and described the flumes as a &#8220;major incident&#8221;.</p>
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<p dir="ltr" lang="en">Major incident declared at Grenfell Tower in Kensington. 40 fire engines &amp; 200 firefighters at the scene &#8211; follow <a href="https://twitter.com/LondonFire">@LondonFire</a> for updates.</p>
<p>— Sadiq Khan (@SadiqKhan) <a href="https://twitter.com/SadiqKhan/status/874827945117876225">June 14, 2017</a></p></blockquote>
<p><script async src="//platform.twitter.com/widgets.js" charset="utf-8"></script></p>
<p>The cause of the fire remains unknown at this stage, the Fire Brigade said.</p>


Huge fire engulfs London tower block, fatalities reported

<p>Barclays (<span id="symbol_BARC.L_0"><a href="http://www.reuters.com/finance/stocks/overview?symbol=BARC.L">BARC.L</a></span>) cut its stake in Barclays Africa Group (<span id="symbol_BGAJ.J_1"><a href="http://www.reuters.com/finance/stocks/overview?symbol=BGAJ.J">BGAJ.J</a></span>) to 15 percent sooner than expected on Thursday, ending more than 90 years as a major presence in the continent.</p>
<p>The British bank, which under Chief Executive Jes Staley is firmly focused on Britain and the United States, said it was selling 2.2 billion pounds ($2.83 billion) worth of shares in Barclays Africa Group due to strong investor demand.</p>
<p>Barclays had said on Wednesday it would sell shares worth 1.5 billion pounds in its second such sale since announcing plans to offload most of its African business.</p>
<p>The bigger share sale initially lifted shares in Barclays, which is partly relying on the funds raised to meet capital requirements identified as a concern by the Bank of England in November. By 0835 GMT, the shares were down 0.1 percent.</p>
<p>The sale is expected to mean an increase of approximately 27 basis points to Barclays&#8217; core capital ratio, a key measure of financial strength, which was 12.5 percent at 31 March 2017 .</p>
<p>&#8220;We still see this deal as utterly transformational for Barclays’ capital position, which in turn offers specific opportunities for earnings enhancement,&#8221; analyst Ian Gordon at Investec wrote in a note following the announcement.</p>
<p>Barclays, whose shares were trading up 0.5 percent at 0740 GMT, said on Wednesday that South African pension fund Public Investment Corporation would buy 7 percent of the shares, raising its holding to 14 pct according to Thomson Reuters data.</p>
<p>The Barclays Africa Group shares, which were up nearly 3 percent at 143 rand at 0835 GMT, will be priced at 132 rand a share, the bank said.</p>
<p>That represents a 5 pct discount to Wednesday&#8217;s closing price of 139 rand and will raise an aggregate 2.2 billion pounds, the bank said, adding it will then place an additional 12.7 million shares in a black economic empowerment scheme.</p>
<p>Barclays said in March 2016 it would sell most of its 62.3 pct stake in Barclays Africa Group, giving itself two to three years to complete the sale. Its first sell down of 12.2 percent was completed in May 2016, but the bank had since been hindered by regulatory delays and political upheaval in South Africa.</p>
<p>Since taking over 18 months ago, Staley has scaled back the bank&#8217;s geographic footprint and emphasized investment banking, although his attempts to revitalize this business have been clouded by investigations in the U.S. and Britain.</p>
<p>Staley has also faced criticism from investors following his attempts to unmask a whistleblower, which Barclays insiders fear could unseat him if the findings of inquiries are damning.</p>
<p>Barclays also faces regulatory obstacles, with an ongoing probe by Britain&#8217;s Serious Fraud Office (SFO) into its 2008 cash call at the height of the financial crisis and allegations by the U.S. Department of Justice (DOJ) over mortgage mis-selling.</p>
<p>Analysts at KBW said the completion of the sale earlier than expected was positive for the bank&#8217;s capital ratio.</p>
<p>&#8220;However this still remains far from market leading (still below Credit Suisse or Deutsche Bank), whilst a number of headwinds remain outstanding,&#8221; they added in a note.</p>
<p>(Editing by Rachel Armstrong and Alexander Smith)</p>


Barclays makes early African exit with $2.8 billion share sale

<p><span class="articleLocation">TJ Strydom | JOHANNESBURG</span></p>
<p>South Africa&#8217;s Investec reported a 17 percent rise in annual profit on Thursday buoyed by its asset management and specialist banking businesses.<span id="midArticle_byline"></span></p>
<p>Investec, which is also listed in London, said adjusted earnings per share (EPS) for the year to end-March rose to 48.3 pence from 41.3 pence a year earlier.</p>
<p>&#8220;The Asset Management and Wealth and Investment businesses have benefited from higher funds under management supported by rising market levels,&#8221; the company said in a statement.</p>
<p>It raised its full-year dividend to 23 pence per share from 21 pence a year earlier.</p>
<p>(Reporting by TJ Strydom; editing by Jason Neely)</p>
<p>&nbsp;</p>


South Africa’s Investec reports 17 percent full-year profit jump

<p>South African fast-food chain Nandos, best known for its spicy chicken meals, denied speculation on Tuesday it was considering a stock market flotation.</p>
<p>Citing unidentified sources, Bloomberg reported on Monday that Nandos was weighing an initial public offering (IPO), possibly in London, to raise money for expansion.</p>
<p>&#8220;The speculation about a Nando&#8217;s IPO is incorrect, nor are they currently considering fundraising,&#8221; the company said in a statement.﻿</p>
<p> </p>


South Africa's Nandos denies stock market flotation report

<p>LUSAKA &#8211; Konkola Copper Mines (KCM), owned by Vedanta Resources, has been ordered by a London court to pay the Zambian government more than $100 million for a claim related to the copper price, a state-owned company involved in the dispute said.</p>
<p>The claim relates to outstanding payments under a 2013 copper price participation settlement agreement between KCM and Zambia Consolidated Copper Mines Investments Holdings (ZCCM-IH), the latter said late on Monday.</p>
<p>In June this year, ZCCM-IH filed the claim with the English High Court to recover over $100 million it said was owed to it from KCM in terms of the 2013 agreement.</p>
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<p>&#8220;We now advise that ZCCM-IH has been successful in its application for default judgment. KCM has been ordered (on 16 December 2016) to pay all sums owed to ZCCM-IH,&#8221; the state company said.</p>
<p>&#8220;The total amount to be paid by KCM amounts to approximately $103 million. KCM has also been ordered to reimburse ZCCM-IH 80 percent of the costs it has incurred in pursuing its claim.&#8221;</p>
<p>A ZCCM-IH spokeswoman said the company and KCM planned to issue a joint press statement on Tuesday to give further details of the ruling.</p>
<p>(Reporting by Chris Mfula; Editing by Ed Cropley)﻿</p>
<p> </p>


London

Expectations from the Commonwealth heads of government meeting

Africa’s debt challenge

Expert tips on how to invest in art

Moody’s outlook for SSA negative in 2018

NSE’s Oscar Onyema speaks on partnership with LSE

Importance of understanding your customers’ buying behaviour

Huge fire engulfs London tower block, fatalities reported

Barclays makes early African exit with $2.8 billion share sale

South Africa’s Investec reports 17 percent full-year profit jump

South Africa's Nandos denies stock market flotation report

Vedanta Resources slapped with $100m settlement

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London

Expectations from the Commonwealth heads of government meeting

Africa’s debt challenge

Expert tips on how to invest in art

Moody’s outlook for SSA negative in 2018

NSE’s Oscar Onyema speaks on partnership with LSE

Importance of understanding your customers’ buying behaviour

Huge fire engulfs London tower block, fatalities reported

Barclays makes early African exit with $2.8 billion share sale

South Africa’s Investec reports 17 percent full-year profit jump

South Africa's Nandos denies stock market flotation report

Vedanta Resources slapped with $100m settlement

News Tips

Advertise With Us

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