The Editorial Team |

White House Weighs Ouster of Aide Who Testified Against Trump

LAGOS (Capital Markets in Africa): The White House is weighing a plan to dismiss Alexander Vindman from the National Security Council after he testified in President Donald Trump’s impeachment inquiry, preparing to position the move as part of a broader effort to shrink the foreign policy bureaucracy, two people familiar with the matter said. Any moves would come after the Senate on Wednesday acquitted Trump on a near party-line vote at the conclusion of the two-week…

US Fed Reserve Worries About Liquidity Squeezes Beyond Money Markets

Posted on by The Editorial Team

LAGOS (Capital Markets in Africa): Federal Reserve Chairman Jerome Powell and his colleagues have long recognized that some of the post-crisis rules that make the banking system safer also could end up making the financial markets more brittle. That’s a risk that was highlighted by last year’s turmoil in the money markets and was flagged as far back as 2014 — at a Fed board meeting that approved tough liquidity requirements to make banks more secure and which Powell…

Popular Citizen Journalist Covering Virus Goes Missing in China

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LAGOS (Capital Markets in Africa) – Over the past couple of weeks, Chinese citizen journalists Chen Qiushi and Fang Bin have served as the world’s eyes and ears inside the epicenter of the coronavirus outbreak, the city of Wuhan. Broadcasting via their mobile phones, they’ve offered a glimpse of how dire things have been. Many of those videos have been posted to Twitter and reposted on YouTube. Now one of them is missing. Chen has…

Ghana Charges Ex-Finance Minister After Collapse of Bank

Posted on by The Editorial Team

ACCRA (Capital Markets in Africa): Ghanaian prosecutors charged a former finance minister for alleged crimes that contributed to the collapse of one of the West African nation’s biggest local lenders during a banking crisis. Kwabena Duffuor, who served as finance chief from 2009 to 2013, and seven other individuals were named in a filing Wednesday at the Accra High Court on counts that include theft and money laundering. Duffuor is accused of receiving 663.3 million…

Vodafone to Hand Management of Ghana Unit to Africa Operation

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ACCRA (Capital Markets in Africa): Vodafone Group Plc will hand over management of its Ghana unit to the U.K. carrier’s separately listed South African division in April, the latest step to bring the company’s operations on the continent under one roof. Johannesburg-based Vodacom Group Ltd. will take responsibility for the West African business alongside other units including Tanzania, Mozambique, the Democratic Republic of Congo and South Africa, Chief Executive Officer Shameel Joosub said in an interview. Vodafone Ghana will keep…

HSBC Plans Third Overhaul in a Decade With Investors Seething

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LONDON (Capital Markets in Africa): For HSBC Holdings Plc’s frustrated shareholders, time is running out on Chairman Mark Tucker’s mission to deliver. The former insurance executive, who arrived in 2017 after making his mark in Asia, is set to roll out a top-to-bottom overhaul of the sprawling lender after two post-crisis resets and his first pick as chief executive officer flopped. Costs remain too high, red tape is too thick and not enough businesses generate…

Trump Impeachment Win Clears Path for Emboldened President

Posted on by The Editorial Team

NEW YORK (Capital Markets in Africa) – Donald Trump’s acquittal by the Senate delivered an expected yet exhilarating victory to the White House, freeing a president who has for years operated under the threat of impeachment and longed for vindication. The vote by the U.S. Senate on Wednesday provided Trump another last-hour escape from a mortal threat to his presidency, even though the outcome was tarnished when Mitt Romney became the first senator ever to vote to…

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