The Editorial Team |

Kganyago Says South Africa Central Bank Owners Debate a Distraction

JOHANNESBURG (Capiatla Markets in Africa) – As the South African Reserve Bank’s shareholders prepared for its annual general meeting on Friday, Governor Lesetja Kganyago derided the debate over who owns the institution as a distraction from the real problems that the economy faces. This AGM was the second since the ruling African National Congress decided in December 2017 that the central bank, which is one of a handful worldwide owned by private investors, should be…

The Central Bank Punishing Lenders That Won’t Lend: QuickTake

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LAGOS (Capiatla Markets in Africa) – Nigeria’s central bank introduced measures last year to encourage commercial banks to lend more, part of a bid to revive one of Africa’s biggest economies. Credit growth, however, has stagnated, despite the new rules enabling lenders to deploy funds previously earmarked as reserves. Now, central bank Governor Godwin Emefiele is taking a more aggressive approach, penalizing banks that are deemed too risk-averse. Why is the central bank doing this? Nigeria’s economy contracted…

Vote Corbyn, Stop Brexit: How Labour Plans to Take On Johnson

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LONDON (Capiatla Markets in Africa) – Top officials in Britain’s main opposition Labour Party are preparing a dramatic policy to campaign to reverse the 2016 Brexit vote and keep the U.K. inside the European Union, if a snap election is held in the months ahead. Labour’s manifesto for an election is being drafted already and is likely to promise another referendum on EU membership with the party campaigning for remain, people familiar with the matter…

Vodafone Surges on Possible IPO, Stake Sale of Towers Unit

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LONDON (Capiatla Markets in Africa) – Vodafone Group Plc shares gained the most in more than a decade on the phone carrier’s plan to carve out its towers business and consider an initial public offering or minority stake sale of the new unit. The stock rose as much as 10.4%, the biggest intraday jump since November 2008, after the carrier announced plans to separate Europe’s largest towers portfolio alongside financial results that beat expectations. The business,…

EU Says No to Boris Johnson, Increasing No-Deal Brexit Risk

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LONDON (Capiatla Markets in Africa) – The scale of the challenge facing Boris Johnson to break Britain’s political deadlock was laid bare in his first days as prime minister, as the European Union immediately rejected his demands for a better Brexit deal. Johnson told European Commission President Jean-Claude Juncker that the U.K.’s Withdrawal Agreement with the EU would have to change for it to pass Parliament, according to his office’s account of the phone conversation between the two Thursday. Juncker said…

Gerard Lyons as Carney’s Successor Could Mean Different BOE

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LONDON (Capiatla Markets in Africa) – One contender to be Bank of England governor recently tipped by bookmakers could augur a rather different way of thinking at the institution. Pro-Brexit economist Gerard Lyons became the frontrunner this week, according to Betway, in tandem with the appointment as prime minister of his former boss, Boris Johnson. The new premier has just populated his cabinet with allies, and punters may now be betting he could repeat that with the leadership of the…

BOE Governor Job a Poisoned Chalice, Ex-Policy Maker Weale Says

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LONDON (Capiatla Markets in Africa) – The job of Bank of England governor could be considered a “poisoned chalice” by some possible candidates and finding a pro-Brexit economist to fill the role could be a challenge, according to former policy maker Martin Weale. “If following the appointment of the Cabinet, the chancellor wants someone who believes that Brexit is going to be wonderful, my guess is that’s going to give him a fairly short shortlist,” Weale,…

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