The Editorial Team |

Kenya’s Economy Grows at Fastest Pace in Eight Years in 2018

NAIROBI (Capital Markets in Africa) – Kenya’s economy expanded at the fastest pace in eight years in 2018 and may grow at a similar rate this year, Treasury Secretary Henry Rotich said. Gross domestic product climbed 6.3 percent from a year earlier, Kenya National Bureau of Statistics Director-General Zachary Mwangi told reporters Thursday in the capital, Nairobi. That’s the biggest annual increase since 2010, when East Africa’s largest economy grew by 8.4 percent. “Our estimate was 6…

Cyclone Kenneth Strengthens as It Bears Down on Mozambique

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MAPUTO (Capital Markets in Africa) – Tropical Cyclone Kenneth continued to grow stronger as it swirled toward the coast of Mozambique, where Anadarko Petroleum Corp. has halted all flights to and from its liquefied natural gas site. Mozambican authorities declared a “red alert” in Cabo Delgado province as they prepared to evacuate people from the northern region. Relief agencies in the country are already stretched as they deal with the aftermath of Cyclone Idai, which struck…

Mozambique Keeps Interest Rate at Record Low on Stable Inflation

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MAPUTO (Capital Markets in Africa) – Mozambique’s central bank kept its key rate at a record low, saying that while it estimates inflation will accelerate slightly, it won’t compromise the regulator’s objective of maintaining macroeconomic stability. The Monetary Policy Committee held the benchmark interbank rate, known by its Portuguese acronym MIMO and introduced in April 2017, at 14.25 percent, Banco de Mocambique said Thursday in an emailed statement. It retained the policy rate at 17.25…

Union That Disrupted South African Mining Faces Deregistration

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JOHANNESBURG (Capital Markets in Africa) – South Africa’s Labor Department said it intends to deregister one of the country’s biggest and most aggressive mining unions, just weeks before crucial platinum-industry wage talks are expected to begin. A relative upstart compared with the more-established National Union of Mineworkers, the Association of Mineworkers and Construction Union has shaken up the country’s mining industry over the past decade. It gained prominence in a dispute at Lonmin Plc that…

Guangzhou International Solar Photovoltaic Exhibition 2019

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FOR MORE VISIT http://www.pvguangzhou.com/

Africa’s Biggest Fund Manager Is Said to Court Banker for CEO

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JOHANNESBURG (Capital Markets in Africa) – Africa’s largest fund manager is said to be considering financial services executive Kennedy Bungane to head the institution, according to people familiar with the matter. Responsible for most South African government workers’ pension funds, the Public Investment Corp. is being probed over allegations of wrongdoing that are currently a subject of a judicial commission of inquiry and resulted in a host of senior departures, including that of Chief Executive Officer Dan Matjila….

Angola Cancels Telstar Mobile Phone License, to Open New Tender

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LUANDA (Capital Markets in Africa) – Angolan President Joao Lourenco canceled a decision to award Telstar Telecomunicacoes, a privately held company, the southwest African nation’s fourth mobile license. “The president annuls the outcome of the competition to ensure a clean and transparent procedure,” the Angolan presidency said in an emailed statement on Thursday. “The Ministry of Telecommunications will formalize the opening of a new tender within 30 days.” The tender, the results of which were announced on April…

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