The Editorial Team |

What African Central Bankers Will Discuss in the Next 7 Days

LAGOS (Capital Markets in Africa) – Central bankers in Africa’s largest economies will consider very different conditions when deciding on interest rates over the next seven days than they did two months ago, and will mostly come to the same conclusions. Since the Monetary Policy Committees last met, Ghana’s currency slumped, Nigeria concluded its election, South Africa announced higher-than-expected power-price increases and a Kenyan court set aside a law that caps borrowing costs. All of…

Tanzania to Start Talks for $30 Billion LNG Project in April

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DAR ES SALAAM (Capital Markets in Africa) – Tanzania plans to negotiate terms for developing a $30 billion liquefied natural gas project with companies between April and September, the Energy Ministry said. The talks are aimed at reaching a so-called Host Government Agreement, the pact that governs the rights and obligations of parties with respect to the development, construction and operation of the project. Equinor ASA, one of the companies involved, could sign the accord after the…

Islamist Insurgencies Feed Age-Old West African Conflicts

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LAGOS (Capital Markets in Africa) – Alassane Dicko used to lead his cattle each day through the grasslands of central Mali until gunmen burned down his village and took all his animals. Now he lives on the edge of a landfill in the capital, Bamako. Dicko, 38, is one of hundreds of ethnic Fulanis who fled their homes in recent months because of violent disputes over land and water, pitting herders against crop farmers and…

Flood Deaths Climb as Mozambique Races to Rescue Stranded

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MAPUTO (Capital Markets in Africa) – Deaths from flooding in the wake of Cyclone Idai climbed to more than 380 as Mozambique’s government battled to deal with the devastation wrought by one of southern Africa’s most deadly recorded storms. The toll may rise dramatically yet as thousands remain stranded. Almost a week after the Category 3 storm made landfall, heavy rains continued in Mozambique’s Sofala province. Rescue workers have saved 3,000 of 15,000 families stranded…

Eskom Reduces Intensity of Blackouts as Power Imports Return

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JOHANNESBURG (Capital Markets in Africa) – South Africa’s Eskom Holdings SOC Ltd. reduced the intensity of rotating power cuts on Friday — the country’s ninth straight day of scheduled blackouts — after imports from Mozambique were partially restored. South Africa’s supply from the Cahora Bassa hydroelectric system was cut about a week ago when Cyclone Idai damaged pylons in neighboring Mozambique. The loss of imports compounded an existing shortfall in South Africa after several of…

MTN South Sudan Gets Boost as Hopes Rise That War Is Ending

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SOUTH SUDAN (Capital Markets in Africa) – MTN Group Ltd.’s South Sudan unit said it’s investing at least $30 million in revitalizing and expanding its operations as a new deal to end a five-year civil war brings relative peace to much of the country. Reviving transmission sites, upgrading to 3G and adding new coverage — they’re all planned by MTN South Sudan, one of the two remaining mobile-phone operators in the country. After a period…

AFRICA INSIGHT: Recovery in Economic Growth to Prove Fleeting

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LAGOS (Capital Markets in Africa) – Sub-Saharan Africa should benefit from stronger economic activity in Nigeria and South Africa this year. But we expect this recovery to be temporary. A weak investment climate and a high reliance on commodity exports will probably come back to haunt Africa’s two largest economies. Second-tier economies, such as Ghana, Ivory Coast, Kenya and Senegal are likely to keep expanding strongly in the near term, although they are testing critical…

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