The Editorial Team |

The Mining Industry’s Generation of Something New

LAGOS (Capital Markets in Africa) – A few years after this century’s commodity boom, which was primarily driven by China’s resource-intensive manufacturing and infrastructure sectors, many segments within the global mining industry are facing challenges that have caused severe price declines, increased volatility and lowered utilization levels. To add to this, the current value-chain is being challenged by macroeconomic conditions and increasingly pervasive new technology. As a matter of fact, the digital transformation of mining…

Fintech Platforms Within a Trade Finance Context

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LAGOS (Capital Markets in Africa) – Much has been said about the upcoming “fintech disruption”. About 4 years ago, emerging technology companies identified as “fintechs” were mostly finger-pointed as attempting to create the next wave of competition against established financial institutions (FI’s). At that time, most bankers viewed fintechs as new entrants trying to enter the financial services industry using advanced technologies and innovative business models. Fintechs were perceived as attempting to grab market share…

New import-restrictive measures hit $336bn of trade merchandise

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LAGOS (Capital Markets in Africa) – The World Trade Organization indicated that WTO members have put in place 20 new trade-restrictive measures between mid-October 2018 and mid-May 2019, compared to 40 measures between mid-May 2018 and mid-October 2018. Trade restrictive measures consisted of 16 import-related restrictions and four export-related measures. The WTO members introduced an average of three trade-restrictive measures per month during the covered period, down from eight measures per month between mid-May 2018…

Eskom’s Good News — World Bank Sees South Africa Saving It

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JOHANNESBURG (Capital Markets in Africa) – The risk of South Africa’s struggling state power utility going bust doesn’t appear to faze one of its biggest creditors: the World Bank. The Washington-based lender agreed to lend Eskom Holdings SOC Ltd. $4 billion almost a decade ago to boost its generation capacity and avoid a repetition of rolling blackouts. Mismanagement and construction cost overruns have seen the state of the utility’s finances going from bad to worse since then,…

South African Platinum Mine Wage Talks to Start Next Week

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JOHANNESBURG (Capital Markets in Africa) – South Africa’s largest platinum-mining labor union said it will meet the nation’s top three producers on successive days next week as it starts formal negotiations for a three-year wage deal. The Association of Mineworkers and Construction Union plans to meet Anglo American Platinum Ltd. on July 9, followed by Impala Platinum Holdings Ltd. on July 10 and Sibanye Gold Ltd. the day after that, according to Secretary General Jeffrey Mphahlele. AMCU has asked for a…

British High Street Woes Weigh on Truworths as Retailer Slumps

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JOHANNESBURG (Capital Markets in Africa) – Truworths International Holdings Ltd. fell the most in five months in Johannesburg as the South African retailer joined the ranks of those feeling the pain from the U.K.’s ailing shopping streets. Truworths said Tuesday British footwear subsidiary Office had started debt restructuring talks with its lenders in the face of the “depressed retail trading environment.” The stock slumped as much as 6.5%, the biggest drop since January, making it the second-worst performer among…

Ethiopian PM Says Reforms Will Deliver 3 Million Jobs in 2019-20

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ADDIS ABABA (Capital Markets in Africa) – Abiy Ahmed plans to double jobs created in 2019-20 as he implements a reform agenda that opens up the economy for more foreign investment. Africa’s second-most populous nation will probably create 3 million jobs in the year starting July 8 compared with 1.4 million in the previous 12 months, Abiy told lawmakers in the capital, Addis Ababa. Most of the jobs will come from small businesses, he said. While…

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