The Editorial Team |

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

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…

Moody’s Says South Africa’s Debt Structure is a Ratings Strength

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JOHANNESBRUG (Capital Markets in Africa) – South Africa’s longer-maturity debt and the low level of foreign-currency bonds is “more of a strength than a weakness” for the country’s credit rating, according to Moody’s Investors Service. While 37.9% of the government’s rand-denominated debt is held offshore, it poses less risk to the sovereign because investors bear the brunt of foreign-exchange shocks, Lucie Villa, Moody’s vice president and lead sovereign analyst for South Africa, said Tuesday. That, and…

Some Investors Actually Make Money on Negative-Yielding Debt

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NEW YORK (Capital Markets in Africa) – Money managers at BNY Mellon and Pacific Investment Management Co. have snapped up Japanese bonds. Both companies have made the country the second-largest geographic allocation in some of their biggest international fixed-income funds. Ordinarily that wouldn’t seem remarkable, but right now many of Japan’s government bonds have a negative yield—it actually costs money to hold them to maturity. BNY Mellon and Pimco aren’t alone. Investors from outside Japan more than doubled purchases…

Trump’s Fannie-Freddie Plan Finds GOP Favor and Democratic Scorn

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NEW YORK (Capital Markets in Africa) – The top Republican and Democrat on the Senate Banking Committee split over the Trump administration’s plan for freeing Fannie Maeand Freddie Mac from federal control, a sign of the uphill battle Congress faces in overhauling the mortgage giants. Idaho Republican Senator Mike Crapo, the banking panel’s chairman, said his preference is for lawmakers to take the lead on freeing the companies from federal control, but added that the administration should…

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