The Editorial Team |

Nigerian Central Bank Plans $39-Billion Fund Post Pandemic

LAGOS (Capital Markets in Africa) — Nigeria’s central bank plans to set up an independently managed fund within the next 12 months to help build critical infrastructure in the West African nation once the coronavirus pandemic is over. The fund will start with a combination of debt and equity capital of 15 trillion naira ($39 billion) and focus on building transport networks “required to move agriculture products to processors, raw materials to factories, and finished goods…

Chocolate Demand Slump Signals Slowdown in Cocoa Processing

Posted on by The Editorial Team

LAGOS (Capital Markets in Africa) — Cocoa processing probably declined in the first quarter on falling chocolate demand from retail outlets shuttered across the globe because of the coronavirus outbreak, according to surveys conducted by Bloomberg. In Europe, the biggest consuming region, grinding may fall 3% from a year earlier, according to the median estimate in a survey of seven analysts, brokers and processors. Estimates ranged from a drop of 1% to as much as 11%….

South Africa Cuts Off Funding Line to State-Owned Airline

Posted on by The Editorial Team

JOHANNESBURG (Capital Markets in Africa) — South African Airways has been denied any further funding by its government owner as the national carrier looks for ways to recover from the coronavirus crisis and a local form of bankruptcy protection. The airline’s administrators, who were put in charge in December, were told by the state to instead source cash from available resources, according to a letter they sent to affected parties and to Bloomberg News dated April 14….

Trump’s Funding Cut Won’t Fix the WHO’s Problems: David Fickling

Posted on by The Editorial Team

NEW YORK (Capital Markets in Africa) — Global health emergencies will be a fact of life in the 21st century. So, too, will be the World Health Organization’s chronic inability to rise to the occasion. President Donald Trump is hoping that the body’s failures in dealing with the Covid-19 pandemic can be corrected with punishment. The U.S. will halt payments to the WHO to hold it “accountable” for its failure to warn earlier of a public health…

Ex-Goldman Banker Accused of Bribing Ghana Officials

Posted on by The Editorial Team

ACCRA (Capital Markets in Africa) — A former Goldman Sachs Group Inc. banker was sued by U.S. regulators for allegedly orchestrating a bribery scheme that helped a client win a government contract to build a power plant in the Republic of Ghana. Asante Berko, 46, arranged for a Turkish energy company to funnel at least $2.5 million through a Ghana-based intermediary to government officials, the Securities and Exchange Commission said in a Monday statement. Berko hid his misconduct from Goldman…

Trump’s GOP Blames China for Coronavirus With Eye on 2020 Races

Posted on by The Editorial Team

LAGOS (Capital Markets in Africa) — Republicans are ratcheting up efforts to paint China as the villain in the coronavirus pandemic, seeking to shift blame as President Donald Trump faces increased criticism of his handling of a crisis that has shuttered the U.S. economy. The Trump campaign on Tuesday sent out a fundraising email that accused China of “lying” about the outbreak and saying the country must be held accountable, language that is harsher than the president has…

QuickTake: The End of Cash?

Posted on by The Editorial Team

LONDON (Capital Markets in Africa) — Do we still need cash? Humans have used all sorts of things as stores of value — rare metals, strings of shells, even jugs of whiskey. Over time the objects have become more ephemeral, from coins to paper to digital forms. Economists see great payoffs in a cashless society: lower costs for businesses and new tools to manage economies, stymie tax evasion and fight money laundering. Critics see an erosion of privacy, frightening new powers for governments…

« 1 … 184 185 186 187 188 … 1,072 »