The Editorial Team |

Biggest Retailer in Zimbabwe Turns to Solar Amid Power Crisis

HARARE (Capital Markets in Africa) – Corporates in Zimbabwe are moving to solar energy to stave off erratic electricity supply and escalating fuel costs. OK Zimbabwe, the largest retail operator with 64 stores in the southern African nation, is joining the move to renewable energy and will start using solar power at its suburban stores this year, according to Chief Executive Officer Alex Siyavora. Power cuts lasting as long as 18 hours a day have added…

Ethiopia Pushes Privatization to Give Economy a Sugar Rush

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ADDIS ABABA (Capital Markets in Africa) – For decades, Irba Jana has scraped out a modest living from sugar cane, selling his harvest to mills run by Ethiopia’s state-owned sugar monopoly. But lately, he’s been working as a security guard to supplement his income, as two of the three nearby processing facilities have closed because of a lack of upkeep and investment. “Sugar cane just isn’t profitable anymore,” says Irba, a grizzled, 50-year-old father of…

South Africa’s MPC Held Off Half-Point Rate Cut Despite Flexibility

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JOHANNESBURG (Capital Markets in Africa) – South Africa’s central bank didn’t consider easing policy by more than 25 basis points last week, despite the flexibility it has with interest rates, Governor Lesetja Kganyago said. “As a small open economy, we don’t have the problem that the developed world has where monetary policy is at the zero lower- bound, we have the flexibility to do things,” Kganyago said in an interview with Bloomberg TV at…

Cash Crunch Forces South African Airways to Cancel Flights

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JOHANNESBURG (Capital Markets in Africa) – A financial crisis at South African Airways deepened Tuesday as a funding squeeze forced the national carrier to cancel several domestic and international flights. Eight flights between Johannesburg and Cape Town will be cut this week, and 20 between Johannesburg and Durban, the carrier said in an emailed statement. It also canceled 10 flights between Johannesburg and Munich. The move is “in line with SAA’s usual policy of reviewing flights and consolidating…

It’s Trump Versus Greta in ‘Prophets of Doom’ Climate Showdown

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NEW YORK (Capital Markets in Africa) – They are the two highest-profile attendees at this year’s annual World Economic Forum, but their respective recipes for global salvation couldn’t be further apart. President Donald Trump and climate activist Greta Thunberg talked past each other in dueling speeches at Davos on Tuesday that underscored the difficulty in achieving any kind of consensus on the urgency of the environmental challenges facing the planet. Trump, addressing the annual meeting of the…

AFSIC – Investing in Africa” 2020 set to have huge momentum

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The 8th Annual AFSIC – Investing in Africa Forum, scheduled for May 5th -7th 2020 in London, has already confirmed over 300 top-level speakers and panelists including a huge range of Africa’s most important investors, dealmakers and business leaders, who will unpack the increasing global investment momentum into Africa’s growing public and private sectors and highlight new growth opportunities across the continent. The AFSIC 2020 agenda is specifically investment-focused, with several of the most experienced…

Nowhere to Hide for South Africa’s Rand as Trade Tensions Ease

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JOHANNESBURG (Capital Markets in Africa) – The ink drying on the phase-one U.S.-China trade deal may be good for emerging-markets generally — but it bodes ill for the rand as investors return their gaze to South Africa’s domestic challenges. The South African currency has slumped 3.6% versus the dollar this year, the worst performance among emerging-market peers after Brazil’s real, even as easing trade tensions and an improving global economy fuel demand for riskier assets. A gauge…

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