The Editorial Team |

Unilever Slumps as New CEO Faces Slowest Growth in a Decade

LAGOS (capital Markets in Africa) – Unilever slumped after Chief Executive Officer Alan Jopebacked away from his predecessor’s growth targets as consumers around the world jilt mainstream brands. The maker of Ben & Jerry’s ice cream and Dove soap said sales gains will be slightly below guidance for 2019 and in the lower half of its expected range in 2020. The stock fell as much as 6.6% in Amsterdam on Tuesday, the steepest intraday decline in almost…

Morocco Extends Rate Pause to Near 4 Years After Easing Nod

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LONDON (Capital Markets in Africa) – Morocco’s central bank held its interest rates steady, opting against ending a nearly four-year freeze even after King Mohammed VI called on lenders to open their taps for businesses. A decision on Tuesday kept the benchmark rate at 2.25%. It’s a surprise because the central bank started to shift toward monetary easing in September by lowering mandatory reserves for lenders, a measure that unlocks liquidity and could revive the flow of credit…

Pound Traders Give Thumbs Down to Johnson’s New Brexit Strategy

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LONDON (Capital Markets in Africa) – The mandate for Boris Johnson’s Brexit strategy came from the ballot box. It is not winning a vote of approval in the global currencies market. The pound slumped by the most since January after the prime minister announced plans to set a Brexit deadline of December 2020 with or without a trade deal between the U.K and the European Union. The renewed prospect of a disorderly withdrawal from the…

Boris Johnson Revives No-Deal Brexit Threat With Change to Law

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LONDON (Capital Markets in Africa) – Boris Johnson will change the law to ensure the Brexit transition phase is not extended, setting up a new cliff-edge for a no-deal split with the European Union at the end of next year. The pound erased all its gains made since last Thursday’s general election. The U.K. prime minister wants to deliver his election promise to ratify a new free-trade agreement with the bloc before the bridging period maintaining the status quo…

Pentagon Chief Queries Turkey’s NATO Loyalty After Base Threat

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LAGOS (Capital Markets in Africa) – U.S. Defense Secretary Mark Esper said Turkey’s threats to close two critical NATO installations if it’s sanctioned for growing military ties to Russia raise questions about the country’s commitment to the Western alliance. A day after President Recep Tayyip Erdogan warned of possible retaliation if the U.S. imposes penalties over Turkey’s purchase of a Russian missile system, the Pentagon chief suggested the country may have set itself on a collision course with the…

Pentagon Chief Queries Turkey’s NATO Loyalty After Base Threat

Posted on by The Editorial Team

War Room Revived to Tackle South Africa’s Electricity Crisis

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JOHANNESBURG (Capital Markets in Africa) – South Africa’s government revived a so-called Energy War Room to tackle the nation’s electricity crisis, as it brought forward the date when the incoming chief executive officer of the state power utility will start work. The team, to be headed by Deputy President David Mabuza, will seek to avoid a repeat of a nine-day blackout earlier this month that risks tipping the economy into recession. Debt-ridden Eskom Holdings SOC…

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