Kuueza Korner – Week 58

TAIWAN THREATENS SOUTH AFRICA WITH CHIP RESTRICTION | Taiwan briefly imposed restrictions on the export of advanced semiconductor chips to South Africa last week, in an escalation of the ongoing diplomatic dispute between the two countries. The country, one of the world’s largest manufacturers of the technology, announced that it would be imposing export controls on chips amid a diplomatic row over the status of Taipei’s de facto embassy in the country. But the government quickly backtracked after talks were announced with Pretoria. >>Read more

NO SURPRISES EXPECTED AS TANZANIA PREPARES FOR POLLS | Tanzania’s president Samia Suluhu Hassan is widely expected to win a second term in power when Tanzanians cast their ballots in the country’s general elections on 29 October. Hassan – who became the first woman to lead the country in 2021 on the death of predecessor John Magufuli – will face off against 16 other candidates cleared by the country’s electoral commission. But observers say the polls are not much of a contest given that the head of the country’s main opposition party has been barred. But investors are likely to be unfazed. >>Read more

LONDON CALLING FOR AFRICAN FIRMS? | The London Stock Exchange (LSE) is working to attract more listings from Africa, with a senior official telling African Business that regulatory reforms boost the case for high-growth African firms floating in London. London has experienced challenges in attracting new listings in recent years. The drop has been steep: in the first half of this year, listings plummeted to a thirty-year low, and initial public offerings (IPOs) raised a total of just £160m ($216m). >>Read more

SUN KING LOOKS TO EXPAND ITS REALM | Earlier this year, solar energy provider Sun King closed a $156m securitisation deal to accelerate the rollout of off-grid solar systems in Kenya. The deal is part of Sun King’s broader effort to raise local currency capital across Africa. So far, Sun King has raised $450m across Kenya, Nigeria, and Tanzania, including a 2023 securitisation of $130m. The new securitisation is expected to deliver loans that will enable the purchase of approximately 1.4 million solar products and smartphones in Kenya. >>Read more