A blowout first quarter has brought Microsoft  back into contention in the race for the world’s most-valuable listed company.

Sipho Pityana, lead director at Absa Group, is suing part of South Africa’s central bank for stymieing his appointment as the chairman of the country’s third-largest lender.

The Central Bank of Nigeria joined a growing list of emerging markets betting on digital money to cut transaction costs and boost participation in the formal financial system.

Deloitte Africa has officially adopted a hybrid working model. All its staff members will be allowed to split their working time between any Deloitte offices, at their clients' premises or any remote location of their choice.

Few people could have predicted the downward spiral for Alibaba Group Holding, when founder Jack Ma delivered a blunt criticism of China’s financial system last October. 

Yet one year on, the technology titan has lost a whopping $344 billion in market capitalisation - the biggest wipe-out of shareholder value globally, according to data compiled.

Shortly after the now infamous speech, Beijing suspended the listing of its fintech arm Ant Group and has since followed up with a widespread crackdown on the country’s most vibrant sectors — causing Chinese stocks to tank.

Alibaba shares sank from an all-time high that month to a record low three weeks ago in Hong Kong, as Beijing stepped up its scrutiny of the company’s practices and urged a restructure of its fintech business. Despite a 30% recovery from 5 October, the stock is still 43% lower than its October 2020 peak. -fin24

 

Tesla was the highest-growing company in the 2021 Interbrand Best Global Brands ranking.

Following its re-entry to the table last year, Elon Musk’s electric-car firm enjoyed an unprecedented 184% increase in brand value to $36.3bn, moving 26 places up the table to 14th.

Despite its seismic growth, Tesla has yet to enter the top 10 alongside Toyota and Mercedes-Benz. Apple ($408.2bn) once again took the top spot in the table, followed by Amazon ($249.2bn). Having overtaken Google in 2020, Microsoft  ($210.1bn) has preserved its place in the top three. The top three brands account for a third of the total table value this year.

The remainder of the Top 10 comprised Google ($196.8bn), Samsung ($74.6bn), Coca-Cola ($57.5bn), Toyota ($54.1bn), Mercedes-Benz ($50.9bn), McDonald’s ($45.9bn) and Disney ($44.2bn).

Other automotive companies in the top 100 were BMW (12th), Tesla (14th), Honda (25th), Hyundai (35th), Audi (46th), VW (47th), Ford (52nd), Porsche (58th), Nissan (59th), Ferrari (76th), Kia (86th), Mini (96th) and Land Rover (98th)

Interbrand measures brand value by the financial performance of the branded products or services, the role the brand plays in purchase decisions and the brand’s competitive strength.

The research covered the period between July 1 2020 to June 30 2021.

 
 

Standard Bank Group, Africa’s biggest lender, is targeting annuity to expand in Nigeria as an imminent retirement boom presents opportunities to increase life insurance penetration in the continent’s most populous nation.

South Africa’s biggest healthcare retailer JSE-listed Clicks Group is continuing its expansion drive despite continuing Covid-19 pressure and the impact of the July unrest on its business.

Zambia published a full list of its 44 external creditors that shows the central government owes Chinese lenders more than one-third of its total US$13.4 billion of foreign-currency debt stock.

A Nigerian tax tribunal cleared MultiChoice, Africa’s biggest pay-TV provider, to appeal a disputed US$4.4 billion tax bill in the country, according to people familiar with the case.

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