Africa in business: streaming and cement

STORY: Here are five business stories making headlines in sub-Saharan Africa this week.

1. Morgan Stanley says it has turned "bullish" on Nigerian government bonds on hopes that the declared winner of the country's presidential elections will soon press on with key fiscal and financial market improvements.

Bola Tinubu, whose victory is being challenged by rivals in court, made a number of pledges on issues such as a costly fuel subsidy and multiple exchange rates.

2. Africa's biggest pay TV company, Multichoice, said on Thursday (Mar 2) that it has entered into an agreement with U.S.-based media conglomerate Comcast to create a pan-African video-streaming platform.

Multichoice will own 70% of the service, being built on its streaming platform Showmax, which has been grappling with competition from Netflix, Amazon and Disney. Comcast's NBCUniversal will own 30%.

3. A U.S. judge on Tuesday (February 28) ordered Glencore to pay $700 million in connection with its guilty plea over a decade-long scheme to bribe foreign officials across several countries including Nigeria and Democratic Republic of Congo.

Prosecutors have said the mining and commodity trading giant paid more than $100 million in bribes to officials to win business or avoid audits.

4. The World Bank's investment arm has announced $256 million of finance for Senegal's largest integrated cement manufacturer, Sococim Industries, to boost-low carbon production.

The majority of the investment will be ear-marked for green activities, the IFC said.

5. And finally, Emmanuel Macron has promised $53 million to a new global scheme to rewards countries for protecting their forests.

The French president, in Gabon for the two-day One Forest Summit, said the funding would - as part of a new mechanism - address a current issue with carbon-credit schemes.

That is where countries like Gabon, with relatively untouched forests, are not compensated as well as deforested countries that are planting new trees - something Macron called "a bit absurd".