The Editorial Team |

Barclays Activist Stands Firm on Investment Bank Criticism

LONDON (Capital Markets in Africa) – The activist investor challenging Barclays Plc’s management responded to last week’s rebuff with an olive branch, saying that “mutual goodwill” could deliver a major increase in value — while repeating his opposition to the lender’s plans for its investment bank. Edward Bramson, whose Sherborne Investors vehicle holds a 5.5 percent interest in Barclays stock, said in a letter published Monday that “we have consistently assisted boards that were initially reluctant…

This Brexit Delay Is a Bond Market Opportunity: Marcus Ashworth

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LONDON (Capital Markets in Africa) – With the EU divorce now months away, there’s plenty of time for the yield-hunters to swoop on U.K. corporate bonds. Brexit hasn’t gone away – it’s just resting – but the six-month extension agreed with the European Union could turn out to be a capital markets opportunity. The search for yield is the overriding theme for bond investors this year, and U.K. markets are no exception. From that perspective the window…

Libor Replacement to Be Focus as Global Regulators Meet in D.C.

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LAGOS (Capital Markets in Africa) – Libor isn’t gone yet, but global financial regulators want to make sure everyone understands that the scandal-tarred benchmark may be on its way out and that they are prepared to embrace an alternative rate. The need for transition away from the London interbank office rate will be the focus of a discussion in Washington on Wednesday led by Randal Quarles, the Federal Reserve’s bank supervision chief and head of the Financial…

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

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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…

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