The Editorial Team |

Facebook Says Central Banks Have Nothing to Fear From Libra

LONDON (Capital Markets in Africa) – Facebook Inc. is once again defending Libra — this time against fears that the envisioned cryptocurrency could replace sovereign currencies from the U.S. dollar to the Euro and threaten central banks’ control over money creation. David Marcus, the executive leading the project, posted a series of tweets the same day members of the Libra Association met with regulators convened by a G-7 working group in Switzerland. He argued that creating Libra isn’t…

British Welfare Reform Travels From Idea to Infamy in a Decade

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LONDON (Capital Markets in Africa) – The agonizing effort to leave the European Union is taking up every breath of U.K. politics, so most people haven’t taken note of the 10th anniversary of one of the root causes of the country’s discontent. In September 2009 a group of researchers, academics, and management consultants hired by a think tank led by a Conservative Party grandee published its recommendations for simplifying Britain’s complex social security system. It…

BRICS Bank’s First Local-Currency Loan Is for South Africa Roads

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LAGOS (Capital Markets in Africa) – The New Development Bank, the multilateral development institution set up by members of the BRICS group of countries, has extended its first loan in local currency by providing 7 billion rand ($477 million) for South African roads. The 15-year loan to the South African National Roads Agency SOC Ltd. will be guaranteed by the country’s government and still needs the approval of the transport and finance ministers. “The loan…

Nigeria’s Biggest Tomato Plant Idle Again as Farmers Dump Crop

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LAGOS (Capital Markets in Africa) – Nigeria’s biggest tomato plant is counting on the government’s restriction of food imports to sustain operations after going idle again six months after it resumed operations from an almost three-year shutdown. When Aliko Dangote, Africa’s richest man, decided to set up the plant, it was with the clear goal of supplanting imports of tomato paste mostly from China but that has suffered setbacks. Currently, the 1,200-ton-a-day tomato-processing factory near the…

INTO AFRICA September 2019 Edition – Reviewing 2018 African Outlook

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Welcome to the September 2019 edition of INTO AFRICA, a publication written by the professionals, for professionals, investors, policymakers … Advancing and providing fresh insight into Africa’s emerging markets through renowned thought leadership and peer-to-peer knowledge-sharing. The edition is titled: Reviewing 2019 African Outlook. According to the July 2019 Word Economic Outlook, the growth in sub-Saharan Africa is expected at 3.4 percent in 2019 and 3.6 percent in 2020, 0.1 percentage point lower for both years than…

Feranmi – to look at

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The author presents a negative perfect picture of a society ruled by rigid totalitarianism (an entity known as ‘Big Brother’) and in contrast to this, Winston Smith represents a rebellion. The author tries to envisage the future, with a couple of elements and symbols taken from the present and past – the book was written in the 1940s with 1984 settings. The opening of the book with Winston making his way home from work added…

Egypt Primed for Emerging World’s Deepest Rate Cuts After Turkey

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CAIRO (Capital Markets in Africa) – Egypt’s inflation eased in August to its lowest level since the start of 2013, paving the way for what could be the second-biggest push to cut interest rates across emerging markets. Consumer prices in urban parts of Egypt rose 7.5% from a year earlier, the state-run CAPMAS statistics agency said Tuesday. Core inflation, the gauge measured by the central bank that strips out volatile and regulated items, slowed to an annual…

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