The Editorial Team |

World Bank Urges Kenya to Slow Down on President’s Pet Projects

NAIROBI (Capital Markets in Africa) – Kenya should slow down on borrowing to fund President Uhuru Kenyatta’s key legacy projects, the World Bank has warned. Kenyatta’s “Big Four,” a plan to boost manufacturing, farming, health care, and low-cost housing, has put pressure on the treasury to hike spending even as it struggles to grow revenue. The Treasury expects public debt to climb 11% to 6.45 trillion shillings ($64 billion) by the end of June from a year earlier….

Nigeria Demands U.K. Return Wanted Ex-Oil Minister

Posted on by The Editorial Team

LAGOS (Capital Markets in Africa) – The U.K. should return Nigeria’s former petroleum minister to face a corruption trial unless it produces its own charges against her, The Cable reported, citing the West African nation’s top anti-graft official. A long-running British probe into Diezani Alison-Madueke, who served as petroleum minister from 2010 to 2015, has yet to yield any charges, the news website cited Economic & Financial Crimes Commission Chairman Ibrahim Magu as saying. The EFCC…

Nigeria Surprised by News of Possible U.S. Travel Restrictions

Posted on by The Editorial Team

LAGOS (Capital Markets in Africa) – Nigeria’s government was surprised by the news that the U.S. is considering travel restrictions on its citizens and the ban would mean officials will have to find new ways to meet with investors, Finance Minister Zainab Ahmed said. Nigeria is one of seven countries, more than half of which are in Africa, included in a list that may be affected if the Homeland Security Department’s recommendation to expand restrictions is approved,…

Trump Limps Into Fast-Track Trial With GOP Senate in His Corner

Posted on by The Editorial Team

NEW YORK (Capital Markets in Africa) – President Donald Trump’s impeachment trial formally opens in the Senate on Tuesday, promising to shape his legacy, deepen the country’s political divisions and influence control of power in the nation’s capital for years to come. While the president faces little risk of removal from office by the Republican-led Senate, the trial may bring to light new details of Trump’s Ukraine scandal and help sway undecided voters in the 2020…

At More Than 500%, Zimbabwe’s Ncube Sees Inflation Stabilizing

Posted on by The Editorial Team

HARARE (Capital Markets in Africa)~ Zimbabwean inflation is beginning to stabilize, even with consumer prices increased more than 500% on an annual basis, Finance Minister Mthuli Ncube said. Year-on-year inflation remains high, “but that’s expected, that happens when you liberalize a currency,” Ncube said Wednesday in an interview with Bloomberg Television at the World Economic Forum in Davos. After a decade of using a basket of foreign currencies, including the South African rand and the…

Tesla Created Demand for Electric Cars, But Only for Teslas

Posted on by The Editorial Team

NEW YORK (Capital Markets in Africa) – Tesla Inc.’s stock is soaring, and traditional auto manufacturers are staging glitzy presentations of new plug-in models. You’d think the electric-vehicle age was finally dawning. But so far, Tesla is the only car company looking likely to benefit in the coming years. Look at every other corner of the U.S. auto industry — the world’s most valuable automaker, dealers, consumer surveys and market forecasts — and a more ominous picture…

Biggest Retailer in Zimbabwe Turns to Solar Amid Power Crisis

Posted on by The Editorial Team

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…

« 1 … 224 225 226 227 228 … 1,077 »