The Editorial Team |

London Housing Is Taking the Hardest Brexit Hit, Acadata Says

LONDON (Capital Markets in Africa) – London’s property market is continuing to bear the brunt of Brexit malaise, according to a report from Acadata. House prices in the capital fell by 1.1% in April from a year earlier, the reportshowed. Nationally, they rose 0.2% in the period, to an average 302,122 pounds ($393,332). The number of property sales tell a similar story, At the national level, an increase over the past year, along with an uptick in first-time…

What to Watch as Nigeria’s Divisive Central Banker Gets New Term

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LAGOS (Capital Markets in Africa) – Godwin Emefiele looks set to get a second term as Nigeria’s central bank governor, which would make him the first person to do so in the 20 years since Africa’s biggest oil producer ended military rule. The 57-year-old former banking executive proved controversial in his first five years as monetary chief. Many analysts criticized his desire to keep a strong currency and curb imports, saying it deterred foreign investment and slowed Nigeria’s economic recovery…

Vodacom Turns to Safaricom for Higher Operating Profit

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JOHANNESBURG (Capital Markets Africa) – Vodacom Group Ltd. is turning to its East African mobile-phone carrier Safaricom Plc to deliver higher earnings in the coming years. South Africa’s top wireless carrier forecast “mid-high single-digit growth rate” in operating profit for the next three years, alongside the release of full-year financial results on Monday. The carrier updated its outlook to include Nairobi-based Safaricom, in which it purchased a 35% stake from its parent company Vodafone Group Plc…

Living Off Garbage at the Bottom of World’s Most Unequal Nation

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JOHANNESBURG (Capital Markets in Africa) – In the financial capital of South Africa, an informal army of collectors find their best chance of income curbside in wealthy suburbs. Luyanda Hlatshwayo wakes up at 4 a.m. in the abandoned inner-city school building with shattered windows he calls home. He stuffs a pair of worker’s gloves in his pocket and rides a warehouse trolley like a giant skateboard to a suburb of South Africa’s economic metropolis, Johannesburg:…

Ramaphosa’s Quandary: a Team to Revive South African Economy

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JOHANNESBURG (Capital Markets in Africa) – South African President Cyril Ramaphosa’s triumph in guiding his African National Congress to a sixth straight election victory has left him with an even more formidable challenge: to pick a cabinet that can dismantle a shadow state of corruption and revive the flagging economy. His window of opportunity to install an administration free of ministers tainted by graft and to impose tough economic reforms, without deepening rifts in an already-divided…

Ramaphosa Revives South African Advisory Unit to Drive Policy

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JOHANNESBURG (Capital Markets in Africa) – South African President Cyril Ramaphosa has reinstated an advisory unit in the office of the presidency as he seeks to speed up policy execution. “The presidency’s policy and research unit has been established and is modeled on a similar unit that existed during former President Thabo Mbeki’s time,” Khusela Diko, Ramaphosa’s spokeswoman, said by phone from Pretoria. “It will advise the presidency on policy and implementation of policy, and that service will also…

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NAIROBI (Capital Markets in Africa) – On May 6, Kenyan authorities arrested and then released Boniface Mwangi, a Kenyan photographer and political activist, on suspicion of fomenting a “revolution” against the government of President Uhuru Kenyatta. The previous week, news reports said Mwangi participated in the “Beyond Zero Corruption” campaign in Nairobi (also dubbed the Red Vest Movement) — an initiative highlighting the poor state of Kenya’s economy, rampant corruption and entrenched impunity in the…

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