The Editorial Team |

AB InBev Sees Africa Investment Rising After $200 Million Outlay

JOHANNESBURG (Capital Markets in Africa) – Anheuser-Busch InBev NV sees further African investment after spending about $200 million on the continent since the world’s largest brewer bought SABMiller in 2016, according to Chief Executive Officer Carlos Brito. AB Inbev, based in Leuven in Belgium, has invested the bulk of that money in South Africa and Nigeria, Brito told reporters in Johannesburg on Wednesday. That includes a new brewery near Lagos, the commercial capital of Africa’s…

Beyond May—The Tory Rivals Jostling to Be U.K. Prime Minister

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LONDON (Capital Markets in Africa) – Prime Minister Theresa May’s decision to step down on June 7 has fired the starting gun for a Conservative Party leadership race that could redefine Britain’s exit from the European Union. Here’s a look at some of the possible candidates in what could be a bitter and dramatic contest. Boris Johnson—The Favorite Boris Johnson, or “Boris” as he’s known to just about everyone in politics, as a child wanted to be…

Ivory Coast Seeks Banks to Sell Euro-Denominated

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ABIDJAN (Capital Markets in Afrioca) – Ivory Coast is requesting proposals from banks to issue as much as 500 million euros ($557 million) in foreign bonds to refinance more expensive debt, according to people familiar with the matter. The world’s top cocoa grower, which budgeted to raise 1.44 trillion CFA francs ($2.5 billion) of debt in 2019, wants to redeem some of its euro-denominated securities, said the people, who asked not to be identified because they’re…

Pound Wins Relief From Record Losing Streak as May Finally Exits

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LONDON (Capital Markets in Africa) – The pound looked set to end a record run of losses against the euro as Theresa May’s resignation as U.K. prime minister led traders to take bets on further political turbulence off the table. Sterling gained for the first time in 15 sessions against the common currency Friday, having been battered this month by the prospect that a hard-line Brexit candidate could replace May. With that risk now factored into…

Boris Johnson as U.K. Prime Minister Is the EU’s Worst Nightmare

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LONDON (Capital Markets in Africs) – For European leaders watching Theresa May’s political death throes, a sense of inevitability has been replaced by one of fear. Rather than break the deadlock over Brexit, the departure of the British prime minister raises the prospect of what they’ve long considered their worst nightmare: a U.K. run by Boris Johnson, the man many inside the European Union blame for causing the mess with his campaign based on false promisesand then by…

Tearful Theresa May Quits as Brexit Breaks Her Premiership

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LONDON (Capital Markets in Africs) – An emotional Theresa May announced she will quit as Britain’s prime minister after admitting she had failed to deliver the one task that defined her time in office — taking the country out of the European Union. “I have done my best,” May said in a statement to cameras in the sunshine outside her Downing Street offices. “It is, and will always remain, a matter of deep regret to me that…

Zambia Raises Rate for First Time Since 2015 to Help Kwacha

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LUSAKA (Capital Markets in Africa) – Zambia’s central bank raised its key interest rate for the first time since November 2015 in a bid to stabilize its currency, which is the world’s fourth-worst performer against the dollar this year. The Bank of Zambia raised the rate to 10.25% from 9.75%, Governor Denny Kalyalya told reporters Wednesday in Lusaka, the capital. Key Insights While the southern Africa nation’s annual inflation rate of 7.7% in April is…

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