The Editorial Team

The Misplaced Fury around Sound: Time to Put the Record Straight – NJ Ayuk

Climate activists are making more than noise about 3D seismic studies being used to delineate oil and gas reserves offshore Africa. They’ve proceeded with legal action that may force Shell Plc to pull the plug permanently on its search for hydrocarbons along South Africa’s Wild Coast, the country’s poorest province. Seismic surveys use sound waves to help oil and gas companies build an image of hydrocarbon deposits buried deep underground. They are considered a fast…

Commentary: Bank of England Hikes Rates By 0.25 Percent

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LONDON (Capital Markets in Africa): The Bank of England has raised the base rate from 4% to 4.25%. This is the 11th consecutive rise and seven members of the nine-person Monetary Policy Committee supported the quarter of a percentage point increase. Marc Cogliatti, Head of Global Capital Markets at Validus Risk Management: “As widely expected, the Bank of England raised rates by 0.25% at today’s meeting, taking the base rate to 4.25% — its highest…

African economies remain resilient with a stable outlook in 2023-2024

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ABIDJAN (Capital Markets in Africa): African economies remain resilient with a stable outlook in 2023-2024, despite the tightening global financial conditions, the African Development Bank (http://www.AfDB.org) has projected in a new report. The report, Africa’s Macroeconomic Performance and Outlook (MEO) 2023 (https://apo-opa.info/40FddSu), estimates Africa’s average GDP to stabilize at 4% in the next two years, up from 3.8% in 2022. Presenting the report on 17 February on the sidelines of the 36th African Union Assembly…

AfDB concludes 2023 insurer roadshow to accelerate mobilization of private capital to the continent

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LONDON, United Kingdom, March 1, 2023/ — The Co-Financing, Syndications and Client Solutions department of the African Development Bank Group (www.AfDB.org) has met with London-based insurers to galvanize continued support of the Bank’s balance sheet optimization and mobilization ambitions, in line with its 2023 lending program. The Bank held an investor relationship event on 28 February, attended by representatives from over 30 insurance companies from the London, Bermudan and other international markets, including many…

UK Investor confidence still below pre-invasion levels

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LONDON (Capital Markets in Africa): A year on from the devastating invasion of Ukraine, which shocked the world, sparked runaway inflation, and led to turbulence across global markets, investor confidence is still struggling to fully recover. The HL Investor Confidence Index shows that, although there has been a marked improvement since last month, confidence in the UK market is still below the level it was last February, before it plummeted in March 2022, following Russia’s…

Nigeria: Prolonged naira shortage may slow economic growth

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LAGOS (Capital Markets in Africa)- The Nigerian economy ended 2022 on a strong footing, expanding by 3.5% YoY in Q4’22, aided by a resilient non-oil sector. The positive print in the non-oil sector reflected gains in the services sector, stemming from strong ICT, trade and financial services performances. From our assessment, the relatively impressive 4G and 5G network coverages, elevated CAPEX spending, and the growing expansion of Fintechs boded well for the telecommunication sector (+10.35%)…

Into Africa: Cloud brings customers and innovation

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JOHANNESBURG (Capital Markets in Africa):– South Africa and Kenya are worlds apart in their embrace of information technology, but they have one thing in common: they jointly lead the African continent in having the biggest impact of cloud computing on customer experience across 7 major African markets. This was one of the most significant findings of the final results of the Cloud in Africa 2023 study released this month by World Wide Worx, with support…

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