The Editorial Team |

Tanzania Cuts This Year’s Cashew-Output Forecast by 22%

DAR ES SALAAM (Capital Markets in Africa): Tanzania cut its cashew nuts output forecast for this year by 22% after excessive rains pounded the East African country and destroyed some of the crops. “Due to the heavy rainfall season which started early in September especially in the coastal region, the quantity will drop to about 225,000 tons,” Agriculture Minister Japhet Hasunga said in an interview. The 2019-20 cashew harvest had been projected to climb to…

No One Wants to Be a Nigerian Stock Trader as Volumes Plunge

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LAGOS (Capital Markets in Africa): Not a single company registered to become a dealer on the West African country’s stock exchange in 2019, according to Nigeria’s Securities and Exchange Commission. That’s a comedown from the record 19 brokerages accredited in 2006 before the upheaval in the banking industry and the global financial crisis caused domestic equities to tumble from all-time highs. It’s also the first time that’s happened in 19 years. “There’s a lot of…

Erdogan Warns Abu Dhabi Bankrolling Russian Mercenaries in Libya

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TRIPOLI (Capital Markets in Africa): Turkish President Recep Tayyip Erdogan lobbed a rare direct attack at the emirate of Abu Dhabi over its backing of Khalifa Haftar and the Russian mercenaries fighting on his behalf in Libya. Abu Dhabi pays for thousands of Russian mercenaries who fight alongside the Libyan general’s forces, which are violating a recent cease-fire brokered by global powers, Erdogan said during a visit to three African states on Monday. The Turkish president’s remarks came shortly after Libya’s…

Football Leaks Hacker Also Revealed Finances of Isabel dos Santos

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LUANDA (Capital Markets in Africa) – The Portuguese man behind a website that pulled back the curtain on world soccer’s business dealings also unearthed documents related to the fortune of Africa’s richest woman. The Portuguese fan was looking for soccer’s secrets when he began hacking into the legal and financial networks supporting the game’s multi-billion-dollar industry five years ago. For years, he plundered internal documents and secret agreements, unmasking questionable practices — and even…

U.K. Opens Door to Scientists But Warns Businesses on Brexit

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LONDON (Capital Markets in Africa) – The U.K. will relax visa rules for top scientists next month while pledging to clamp down on low-skilled migration after Brexit. The U.K. is due to leave the European Union in five days’ time and the government has promised to end free movement by EU citizens. Immigration was a key issue during the Brexit referendum and Prime Minister Boris Johnson is proposing a points-based system that prioritizes higher-skilled workers….

U.K. Should Cut Salary Threshold for Top Migrants, Advisers Say

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LONDON (Capital Markets in Africa) – Boris Johnson’s British government should lower its proposed minimum salary threshold of 30,000 pounds for migrants and create a new route for the most talented people who don’t have a job offer, in order to avoid worker shortages after Brexit, a group of advisers said Tuesday. The U.K. is due to leave the European Union in four days’ time and the government has promised to end free movement by EU citizens….

A Brutal Brexit Is Lose-Lose for City and EU: Lionel Laurent

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LONDON (Capital Markets in Africa) – Eleven months of trade talks are not enough for London to offset the loss of its biggest export market. Nor is it enough for Paris, Frankfurt or Dublin. London wasn’t always the be-all-and-end-all for European finance. It took a deregulation drive under Margaret Thatcher in the 1980s — known as the Big Bang — and Britain’s contribution to the launch of the European single market in the 1990s to…

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