The Editorial Team |

Ethiopia to Keep Control of Its Banks as Other Sectors Open Up

ADDIS ABABA (Capital Markets in Africa) – Ethiopia is shaking up its economy by opening many industries to foreign investors. Just don’t expect the government to loosen its grip on banks yet. “Banking, insurance, micro-credit, and micro-savings services” will be reserved only for domestic investors, according to draft regulations released by the Ethiopian Investment Authority. International aviation, where state-controlled Ethiopian Airlines dominates, power, postal services, and weaponry will be done by, or in partnership, with…

North Korea Fires What May Be Missiles in New Test for Trump

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NEW YORK (Capital Markets in Africa) – North Korea appears to have fired off two missiles on Thursday in a move that comes as it has threatened to break off sputtering nuclear talks unless President Donald Trump offers up concessions by year-end. Two unidentified projectiles were fired at 4:59 p.m. local time from North Korea’s east coast into waters between it and Japan, South Korea’s Joint Chiefs of Staff said, adding that it was monitoring…

Trump Signs Hong Kong Bill Backing Protesters, Angering China

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NEW YORK (Capital Markets in Africa) – Donald Trump signed legislation expressing U.S. support for Hong Kong protesters, prompting China to threaten retaliation just as the two nations get close to signing a phase one trade deal. China summoned U.S. Ambassador Terry Branstad, with Vice Foreign Minister Le Yucheng telling him to stop meddling in Hong Kong affairs. He warned that such actions would strain ties and risk affecting “cooperation in important areas,” according to a foreign…

Both Major U.K. Parties Lack Credible Fiscal Plan, IFS Says

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LONDON (Capital Markets in Africa) – A leading U.K. think tank offered a damning analysis of both the Conservatives’ and Labour’s election pledges, and warned voters to expect higher taxes than either party has outlined. In a brutal assessment of both manifestos for the Dec. 12 vote, the Institute for Fiscal Studies said that “neither is a properly credible prospectus.” Prime Minister Boris Johnson’s Conservatives and Jeremy Corbyn’s Labour have outlined vastly different offerings for voters. While Corbyn is…

Pound’s Winning Streak Against Euro Gains Fuel on Election Poll

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LONDON (Capital Markets in Africa) – The pound headed for a fourth month of gains against the euro, reflecting growing confidence in the market that the Conservative Party will be able to secure a majority in the U.K.’s December election. Sterling outperformed all major currencies after a much-anticipated poll released Wednesday evening suggested that Boris Johnson’s party is on track to win its biggest mandate since the 1980s. That is the best scenario for investors betting on the…

Key Poll Predicts Big Majority for Johnson to Deliver Brexit

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LONDON (Capital Markets in Africa) – Boris Johnson’s Conservative Party is on track to win its biggest majority in more than three decades, according to the most hotly anticipated poll of the general election campaign. The Tories will win a majority of 68 seats in the Dec. 12 election, according to a YouGov poll which used a technique that more closely predicted the 2017 election than standard surveys. Such a majority would allow Johnson to deliver on…

Female Board Representation’s Surprising Champion Is Africa

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LAGOS (Capital Markets in Africa) – Africa, a continent blighted by the world’s highest maternal mortality rate and scant legal protection for women, beats all other regions globally in the proportion of females on company boards. In Africa, one in four board members is female. That’s better than second-placed Europe at 23% and well ahead of global laggard Latin America at 7%, according to a report on gender parity released by the McKinsey Global Institute…

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