The Editorial Team |

Ghana 2018 Growth Tops IMF Forecast and Is Set to Quicken

ACCRA (Capital Markets in Africa) – Ghana’s slower economic growth in 2018 beat the International Monetary Fund’s forecast, and may set the scene for the West African economy to expand the fastest in the world this year, as the lender predicted last week. Gross domestic product expanded 6.3 percent last year, Samuel Kobina Annim, government statistician at the Ghana Statistical Service, told reporters Wednesday in the capital, Accra. While it was slower than 2017’s growth of 8.1…

Standoff in Sudan Amid Calls for Army Rulers to Cede Power

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KHARTOUM (Capital Markets in Africa) – Pressure mounted on Sudan’s military rulers to cede power as the African Union echoed protesters’ calls for a swift handover to a civilian government in the wake of long-time leader Omar al-Bashir’s ouster. Demonstrators kept up their carnival-like sit-in outside army headquarters in Khartoum, the capital, for an 11th day, despite an apparent bid to disperse them. The Sudanese Professionals Association, a driving force behind the four months of protests…

Nigerian March Inflation Hovers Above 11% as Food Prices Rise

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LAGOS (Capital Markets in Africa) – Nigeria’s inflation rate hovered above 11 percent in March as growth in food prices accelerated. Consumer prices in Africa’s largest oil producer rose 11.3 percent from a year earlier, matching the rate in March, the Abuja-based National Bureau of Statistics said in a report published on its website Tuesday. Key Insights Price risks could elevate in the first half due to a 67 percent increase in the national minimum…

Boeing Sued by Kenyan Family for Ethiopian 737 Max Crash

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ADDIS ABABA (Capital Markets in Africa) – The family of a Kenyan man who died in a Boeing Co. 737 Max 8 that crashed in Ethiopia last month filed a complaint against the planemaker in a court in Illinois. George Kabau was an engineer with General Electric Co., according to his brother Tom Kabau. He was among the 157 people who died when the 737 Max plane went down shortly after take off from the Ethiopian capital,…

EOH Jumps Most on Record on Plans to Sell Non-Core Assets

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CAIRO (Capital Markets in Africa) – EOH Holdings Ltd. climbed the most on record as the South African technology firm announced plans to sell non-core businesses to generate about 1 billion rand ($71 million) to quash its debts. The Johannesburg-based company will organize its operations into four units and will sell assets that don’t fit into the new structure, it said in a statement Tuesday. “Within the next 12 to 18 months, we plan to sell…

Acumen Closes $70 Million Impact Fund for Clean Energy in Africa

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NAIROBI (Capital Markets in Africa) – Jacqueline Novogratz’s impact investing group closed an almost $70 million fund to back companies delivering affordable and renewable energy to mostly poor consumers in East Africa. KawiSafi Ventures seeks to bring clean energy to 10 million people with investments in fast-growing companies while also making competitive returns, according to a statement Tuesday from Acumen, a New York-based nonprofit founded by Novogratz. Early investors in the fund include TED curator Chris…

Botswana President Likens Elephants to European Migrant Crisis

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GABORONE (Capital Markets in Africa) – The president of Botswana, the nation with the world’s largest elephant population, likened the country’s travails with its numerous pachyderms to the number of Africans who have migrated to Europe to find a better life. Botswana, where the number of elephants is estimated at anything between 115,000 and a quarter of a million, has been praised for its wildlife policies, which have included a ban on both the hunting…

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