The Editorial Team |

Brimstone to Exit S. Africa Dairy Deal on Anti-Israel Pressure

JOHANNESBURG (Capital Markets in Africa) – Brimstone Investment Corp. will exit a deal led by an Israeli company to buy South Africa’s biggest dairy producer after protests by a pro-Palestinian activist group. The investment-holding firm is in “advanced talks” with a replacement shareholder that could see it exiting its entire shareholding in Milco SA — the entity that has offered 4.8 billion-rand ($343 million) deal to buy Clover Industries Ltd. — by the end of the year, it said…

Bitcoin and TIPS: A Field Guide for Investing in an MMT World

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LAGOS (Capital Markets in Africa) – By now you’ve almost certainly heard (and heard) about Modern Monetary Theory. Opinions on the validity of MMT are a dime a dozen, but how to trade MMT has been Wall Street’s great unknown, according to Bloomberg Opinion’s Brian Chappatta. So here it is. A discussion with investors on how to allocate, invest and hedge if MMT comes to pass — assuming it hasn’t already. Prepare for MMT? It’s already here “It…

Kenya Airports Body Sees Land at $10 Billion on Revaluation

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NAIROBI (Capital Markets in Africa) – Kenya Airports Authority expects its land holdings to be worth more than 1 trillion shillings ($9.9 billion) after a revaluation is concluded in a month, Chief Executive Officer Jonny Andersen said. “Since we’ll have a different balance sheet, we can go to the banks and ask for completely different financing because we’ll have so much value,” Andersen said in an interview in the Kenyan capital, Nairobi. “It will completely…

Kenya Champions Turn Penny Stocks as Uchumi Sinks to Record Low

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NAIROBI (Capital Markets in AfricaA) – At their peak, Kenya’s Uchumi Supermarkets Plc, retailer Deacons East Africa Plc, Mumias Sugar Co. and Eveready East Africa Ltd. were market leaders in their industries and well-known brands in East Africa’s largest economy. Today, the companies are penny stocks. Uchumi has lost 97 percent of its value in the past five years and slumped to a fresh record low in Nairobi Wednesday. Deacons and Mumias shares trade at less…

Tunisia Limbo as IMF Says Time Needed to `Flesh Out’ Policy

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TUNIS (Capital Markets in AfricaA) – Tunisia may have to wait a little longer for a much-anticipated IMF loan installment, as the Washington-based lender said the North African nation needs more time “to fully flesh out” its economic policy. The statement, released by the International Monetary Fund at the end of a staff visit to Tunisia, underscores how the nation’s ongoing political bickering is taking its toll on the implementation of broader economic measures, such as curbing…

Oil Near Five-Month High as U.S. Gasoline Stockpiles Decline

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LAGOS (Capital Markets in AfricaA) – Oil rose in New York, trading near a five-month high, after industry data indicated a sharp decline in American gasoline inventories last week. West Texas Intermediate crude futures increased 0.6 percent, while gasoline climbed as much as 1.5 percent to the highest since October. The American Petroleum Institute was said to report on Tuesday that gasoline stockpiles fell by 7.08 million barrels. That may change expectations for more comprehensive government…

High Inequality Hampers South African Reforms, Moody’s Says

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JOHANNESBURG (Capital Markets in Africa) – The tension created by high levels of inequality in South Africa increases political risk and hampers the progress of economic reforms, Moody’s Investors Service said. Joblessness among young people in Africa’s most-industrialized economy that’s at more than 50 percent and slow economic growth “are key credit challenges,” the ratings company said in an emailed statement on Tuesday. While President Cyril Ramaphosa has pledged reforms to boost the economy and lure investors,…

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