The Editorial Team |

Nigeria’s Biggest City Bans Motorbike Taxis in Boost to Uber

LAGOS (Capital Markets in Africa): Nigeria’s biggest city has partially banned the use of motorcycle taxis following an escalating number of fatal accidents, dealing a blow to Softbank Group Corp.-backed OPay and a potential boost to Uber Technologies Inc. The Lagos State Government cracked down on the popular way to dodge traffic congestion in the commercial capital of Africa’s most populous country, calling the bikes and their three-wheel equivalents a “menace” that is responsible for “scary figures”…

Trade Helps U.S. Economy Grow 2.1% While Consumption Moderates

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NEW YORK (Capital Markets in Africa): U.S. consumer spending moderated and business investment continued to deteriorate at the end of 2019, while a smaller trade deficit and more home construction helped keep economic growth steady. Gross domestic product expanded at a 2.1% annualized rate for a second straight quarter, according to Commerce Department data Thursday. The median forecast in a Bloomberg survey of economists called for 2% growth. Consumer spending decelerated to a 1.8% pace, below projections and the weakest since the…

Democrats’ Drive for Impeachment Witnesses Faces Dwindling Odds

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NEW YORK (Capital Markets in Africa): Democrats face dwindling chances to get testimony from former National Security Adviser John Bolton and others in the Senate impeachment trial as the pool of Republicans willing to even consider defying President Donald Trump keeps shrinking. The possibility of new, potentially damaging revelations emerging from testimony or documentary evidence has always been the greatest unknown in a process where there’s little chance that two-thirds of the Republican-controlled chamber would vote to oust the…

Bank of England Holds Rates in Carney’s Swansong as Britain Exits EU

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LONDON (Capital Markets in Africa): The Bank of England kept interest rates on hold in Governor Mark Carney’s final meeting, waiting for more evidence of an economic rebound before supporting it with a cut. The pound jumped. Policymakers voted 7-2 to keep the benchmark at 0.75%, an unchanged split from their previous meeting that belied investor expectations the decision was on a knife-edge. The committee noted that surveys of business activity have picked up “quite markedly in some…

Oil and Gas Council plays host to the first Senegal Offshore Licencing Round

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President Macky Sall opened the Oil & Gas Council’s 4th MSGBC Basin Summit & Exhibition in Dakar on Wednesday. Held in partnership with PETROSEN, Senegal’s National Oil Company, the conference played host to the official launch of the country’s first offshore licensing round. Comprising 12 offshore blocks, it is expected to draw wide interest from a variety of operators given the country has had eight major oil and gas discoveries since 2014, when the Council…

RisCura launches new Bright Africa investment research

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Investment firm RisCura’s 2019 Bright Africa research was released today and provides a broad analysis of the investment landscape across Africa. The annual Bright Africa research initiative was started by RisCura in 2013 to answer key investor questions about investing on the continent. This year, RisCura expanded the breadth of its analysis, to include inter-Africa connectivity, currency risk, sources of capital on the continent and the inclusion of sovereign bonds, real estate and infrastructure asset…

Shunned by the West and China, Zimbabwe Turns to U.A.E.

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HARARE (Capital Markets in Africa) – Sanctioned by the West and spurned by China, Zimbabwe has turned to the United Arab Emirates in its latest bid to find a savior that can arrest the collapse of its economy. Zimbabwe’s government has approached the U.A.E. in hopes of selling a stake in its national oil company, according to three companies and government officials familiar with the plan. It also wants companies in the U.A.E. to buy…

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