The Editorial Team |

How Protesters Ended Sudan Leader’s 30-Year Rule: QuickTake

KHARTOUM (Capital Markets in Africa) – Omar al-Bashir led a military coup that kicked off Sudan’s Islamic revolution in 1989. Now, after three decades in charge, he has been pushed out after a wave of nationwide protests over soaring prices for food, medicine, fuel and transport. The 75-year-old ruler, who was indicted in 2009 by the International Criminal Court for alleged war crimes and genocide in the country’s Darfur region, had insisted he would only leave office if he lost elections in…

Sudan’s Dictator Is Toppled, but Its Regime Remains: Eli Lake

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Now the rest of the world must redouble its support for the popular movement still fighting for freedom. KHARTOUM (Capital Markets in Africa) – The ouster of Sudanese President Omar al-Bashirshould be a moment for celebration: one of the world’s worst villains, driven from power after waves of popular protest. Ideally, after a few weeks of house arrest spent hearing from the families of people he had tortured and murdered, he should be sent off to the International…

Egypt Eyes Panda, Samurai, Sukuk Issuances for Next Fiscal Year

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CAIRO (Capital Markets in Africa) – Egypt is gearing up to issue its first Panda, Samurai, sukuk and green bonds in the fiscal year starting in July as it attempts to cut borrowing costs by diversifying funding sources, Finance Minister Mohamed Maait said. The country raised $6.2 billion from dollar and euro bond markets in early 2019, but postponed plans to issue debt denominated in Japanese yen and Chinese yuan, sukuk and green bonds during the current fiscal year ending June…

Generals Can’t Fix What Ails North Africa: Bobby Ghosh

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Badly needed economic reforms will only succeed with democratic support. KHARTOUM (Capital Markets in Africa) – Half a century since juntas were the rage, generals in the three largest North African countries are trying to bring them back into fashion. In Algeria and Sudan, where popular protests have recently toppled long-reigning tyrants, military cabals are re-emerging from the shadows to bid for power. In Libya, eight unstable years since the fall of a dictator, another aspiring caudillo is trying…

Drought Delays Crop Planting in Kenya, Stoking Inflation

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NAIROBI (Capital Markets in Africa) – A prolonged dry spell in Kenya has delayed planting of crops in the East African country, increasing inflationary pressures from higher food prices. “Late onset of the 2019 long rains and prevailing dry conditions affected the early planted crop,” the Ministry of Agriculture said in a statement on its website. The resultant shortage of food in some areas caused prices of corn, beans and wheat to increase slightly, the…

Ecobank Breaks 18-Month Nigerian Hiatus by Selling Eurobonds

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LAGOS (Capital Markets in Africa) – Ecobank Transnational Inc. sold $450 million of Eurobonds Thursday at yields that rank among the highest from emerging markets this year, the first debt sale from a lender with shares listed on the Nigerian stock exchange in 18 months. One of Africa’s most geographically diverse banks issued five-year senior unsecured notes priced at 9.75 percent, Renaissance Capital, one of the arrangers, said in a statement. The funding will help the lender to…

Ghana’s Cedi Back Where It Belongs After Drop, Governor Says

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ACCRA (Capital Markets in Africa) – Ghana’s cedi has recovered to levels that appropriately reflect the state of the economy after “overshooting” during a slump in the first quarter, according to the head of the central bank. The currency of West Africa’s second-biggest economy collapsed as much as 16 percent against the dollar after offshore holders of domestic debt failed to roll back their maturing investments at the same time as when the central bank was…

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