The Editorial Team |

Why Ethiopia’s Internal Tensions Risk Boiling Over: QuickTake

ADDIS ABABA (Capital Markets in Africa) — Long-simmering tensions between Ethiopia’s federal government and the northern state of Tigray have escalated to the verge of all-out conflict. Ethiopian Prime Minister Abiy Ahmed on Nov. 4 ordered the military to respond to an alleged raid on an army camp in the restive region and placed it under a six-month state of emergency. Tigrayan leaders responded by banning flights and warned they’ll respond to any acts of…

South Africa Sees Eskom at Zero Carbon Emissions Only by 2050

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JOHANNESBURG (Capital Markets in Africa) — Eskom Holdings SOC Ltd., South Africa’s debt-ridden utility, may eliminate carbon emissions at its power plants only by 2050, according to a government task force. The utility’s Just Energy Transition program, which envisages shifting away from coal, will be implemented gradually over the next three decades, the political group led by Deputy President David Mabuza said. The government maintains that the transition must ensure the economic sustenance of communities surrounding the…

Ethiopia Replaces Top Security Officials as Clashes Continue

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ADDIS ABABA(Capital Markets in Africa) — Ethiopia’s leader replaced key security officials as fighting in the country’s northern Tigray region entered the sixth day. Prime Minister Abiy Ahmed appointed General Birhanu Jula, the No. 2 military official, as chief of staff, replacing General Adem Mohammed. He also named Veteran Foreign Minister Gedu Andargachew as a national security adviser, and his job was handed to Deputy Prime Minister Demeke Mekonnen. “It is a leadership shuffle aimed…

Biden Win Emboldens Bulls as Emerging Markets Signal Buy

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LAGOS (Capital Markets in Africa) — The emerging-market bargain-buyers are in celebration mode. And the party’s not over yet. The prospect of a Joe Biden presidency checked by a divided Congress has gotten everyone from Eaton Vance Corp. to Medley Global Advisors predicting a fresh boost for risk assets, just a week after the stocks, currencies and bonds of developing nations hit the buffers as the U.S. election approached. BlackRock Inc. says developing-nation assets, which look more…

INTO AFRICA Sep-Oct 2020 Edition – Africa Economy: A Tipping Point

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Welcome to the Sep/Oct 2020 edition of INTO AFRICA, a publication written by professionals, for professionals, investors, policymakers … We Advance and provide fresh insights into Africa’s emerging markets through renowned thought leadership and peer-to-peer knowledge sharing. This edition is titled: Africa Economy: A Tipping Point. The coronavirus pandemic (COVID-19) has splintered the world economy, exposing social responsibility and governance fault lines across continents. The substantial shifts in society, its institutions and individuals during the…

SocGen Advising Total on $3.2 Billion Mozambique LNG Import Plan

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LAGOS (Capital Markets in Africa) — Societe Generale SA will act as financial adviser to Total SE and Gigajoule Group on their planned liquefied natural gas import terminal and power plant near Mozambique’s capital, Maputo. The developers expect to reach a final investment decision next year, Gigajoule Chief Executive Officer Johan de Vos said in a reply to questions. The French oil major and the Centurion, South Africa-based energy company plan to spend as much as $3.2…

Ghana Misses Out on African Bond Rally on Election Concerns

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ACCRA (Capital Markets in Africa) — Ghana is missing out on a rally of African bonds as investors fret about an expansion in spending and borrowing ahead of elections in December. The elevated borrowing to cover the spending shortfall has seen the country’s three-year and longer-dated local bond yields rise on the secondary market even as those of its peers on the continent are falling. This is likely to increase future cost of issuing new…

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