The Editorial Team |

London Office Landlords Can’t Believe How Good Things Are

LONDON (Capital Markets in Africa) – London’s office landlords keep being surprised that things aren’t a lot worse. Demand for office space in the U.K. capital is holding up even as political uncertainty persists in a nation gripped by its decision to leave the European Union. Businesses have continued to lease space despite the prospect of a general election that’s pitted the Brexit-backing Conservative party against a Labour opposition that’s committed to a radical policy program that…

Impeachment Probe Turns to Trump Ally at Heart of Ukraine Storm

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NEW YORK (Capital Markets in Africa) – After weeks of Republican complaints that the Democrats’ impeachment inquiry relied on secondhand information, the centerpiece of this week’s public hearings is testimony from a man with a direct line to President Donald Trump. The political peril for Trump, who was dealt a series of setbacks last week, will be heightened as the House investigation accelerates with three days of public hearings starting Tuesday. No witness is more central…

Trump, Kim at Odds as Deadline Looms in Nuclear Talks

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NEW YORK (Capital Markets in Africa) – The bonhomie between President Donald Trump and North Korean leader Kim Jong Un is nearing a key deadline showing new signs of strain. Trump urged Kim over the weekend to “act quickly” to get a nuclear deal done, suggesting the two leaders could meet again “soon.” His comments came hours after North Korea ruled out nuclear talks without a policy change by the U.S. and reported on a…

How Much is the African Gaming Market Really Worth?

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The gaming industry is booming. Industry reports reveal that revenue from worldwide gaming reached $135 billion (₦48.7 trillion) in 2018. That number is 10.9% higher compared to 2017, and it speaks to how much the industry is thriving. All three major sectors, in fact, saw marked improvements: mobile revenue rose by 12.8% to $63.2 billion (₦22.8 trillion); PC, by 3.2% to $33.4 billion (₦12 trillion); and the console sector by 15.2% to $38.3 billion (₦14…

Ghana Plans 21% Spending Surge in 2020 as Election Looms

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ACCRA (Capital Markets in Africa) – Ghana will ramp up spending by a fifth next year as it prepares for an election in 13 months. Total expenditure, including the clearance of arrears, is projected at 85.9 billion cedis ($15.5 billion), 21% more than the projected outcome for 2019, Finance Minister Ken Ofori-Atta told lawmakers in his budget presentation on Wednesday. Wages and salaries will make up 27% of that. Capital spending is projected at 9.3 billion cedis,…

Safaricom Sees $1 Billion Price Tag for Ethiopian License

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NAIROBI (Capital Markets in Africa) – Safaricom Plc, Kenya’s biggest company by market value, expects the pricing for new Ethiopian telecommunications permits to liberalize the industry could be as much as $1 billion. The Horn of Africa state is expected to invite bids for two new licenses this month to compete with its monopoly Ethiopian Telecommunications Corp., which is also slated for part privatization in early 2020. The bid for the Ethiopian spectrum could be “quite…

The Moody’s Mystery Is How South Africa’s Rating Held Up So Long

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JOHANNESBURG (Capital Markets in Africa) – For a quarter-century, South Africa has been able to count on an investment-grade rating from Moody’s Investors Service. Bond buyers lately may be forgiven for wondering why. Financial markets have been pricing in a downgrade for months, and the other two major rating companies have had South Africa at junk status for two years. Should Moody’s follow suit, the nation would suffer enormous financial consequences. For one, the country would lose its place…

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