The Editorial Team |

Zambia Copper Miners See Power Supply Deal as 2020 Top Risk

LUSAKA (Capital Markets in Africa) – Zambian copper producers see their biggest risk this year as the looming expiry of an electricity-supply deal between a state utility and the private company that distributes power to the mines. A more than two-decade-old agreement where state-owned Zesco Ltd. sells power to Copperbelt Energy Corp., which then distributes it to companies including the local unit of Glencore Plc, comes to an end on March 31, and the government…

More Zimbabwe Bank Jobs at Risk as Lenders Push Digitization

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HARARE (Capital Markets in Africa) – After shedding 8% of their workforce last year, Zimbabwean banks may cut more jobs in 2020 as the economy shrivels and the sector increasingly shifts away from cash and toward digital services. “The banking industry, just like the rest of the economy, will suffer negative growth this year, which could result in even more job cuts,” said Sijabuliso Biyam, the chief executive officer of the Bankers Association of Zimbabwe. “The sector…

How U.S.-Iran Tensions Heated Up, Then Boiled Over: QuickTake

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LAGOS (Capital Markets in Africa) – The U.S. and Iran have lived in a state of hostility for decades, but relations grew tenser over the last year, finally boiling over at the start of 2020 with a U.S. attack that killed Iran’s most prominent military leader. The U.S. has been trying to deprive Iran of oil revenue, the lifeblood of its economy; Iran has responded by exceeding limits it agreed to on its nuclear program,…

U.S. Futures Turn Higher as Trader Nerves Settle: Markets Wrap

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LAGOS (Capital Markets in Africa) – Futures on the benchmark U.S. stock gauge turned positive on Wednesday, recovering from a plunge after Iranian missiles struck two American military bases in Iraq. Gold, Treasuries, and oil pared earlier out-sized gains as Iran stressed it didn’t seek war. Contracts on the S&P 500 erased all losses through the European morning to trade in the green after Donald Trump declared “so far so good” regarding an early damage…

Oil Rally Cools as Iranian Strike on U.S. Bases Seen as Limited

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LAGOS (Capital Markets in Africa) – Oil cooled off after rallying on Iranian airstrikes against U.S.-Iraqi military bases, amid speculation that Tehran is opting for limited retaliation over the killing of a top general. Futures in London initially surged more than 5% as the Islamic Revolutionary Guard Corps claimed responsibility for the missile strikes in Iraq, and held some gains on the concern of further escalation in the oil-rich region. Yet prices eased after U.S. President…

Global Leaders Urge Restraint After Iran Retaliates Against U.S.

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LAGOS (Capital Markets in Africa) – World leaders urged restraint and moved to recall their citizens after Iran fired missiles at U.S.-Iraqi airbases in its first counterattack since the killing of General Qassem Soleimani by American forces. From Asia to the Americas, worries mounted about an armed conflict spinning out of control, as the tensions roiled global markets. The response showed just how little appetite there was among U.S. allies for another outright war in the vital energy-producing region….

PM Boris Johnson to Tell Von Der Leyen He Wants a Quick Free Trade Deal

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LONDON (Capital Markets in Africa) – The United Kingdom Prime Minister Boris Johnson will tell European Union Commission President Ursula von der Leyen on Wednesday that the British government is only interested in negotiating a free trade agreement with its largest market, and that he’s determined to achieve it by the end of the year. In their first meeting since von der Leyen took up her post — and since Johnson won last month’s election — the U.K. prime minister…

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