The Editorial Team |

Brexit Ambiguity Leaves Southern African Trade Talks in Limbo

JOHANNESBURG (Capital Markets in Africa) – The uncertainty surrounding the U.K.’s departure from the European Union has left trade negotiators from six Southern African nations pondering how their future ties with one of their largest trading partners will pan out. “Even if there is a deal, it will take months, if not years, to manage the administration around trade and tariffs,” South Africa’s Trade and Industry Minister Rob Davies told reporters in Cape Town on Monday. South…

Emerging Nations Plan Green Banks to Foot Climate Trillions

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LAGOS (Capital Markets in Africa) – The world needs a new model to channel private finance into emerging-nation clean projects and commercial banks are among those planning to help create it. Firms including Macquarie Group Ltd., HSBC Group Plc and Mizuho Financial Group Inc. are scheduled to participate in this week’s Green Bank Design Summit in Paris. They’re joining representatives of 24 developing countries accounting for almost half the world’s greenhouse gases that will be attending the…

Steinhoff Former Chairman Wiese Says Probe Report Supports Claim

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JOHANNESBURG (Capital Markets in Africa) – Former Steinhoff International Holdings NV Chairman Christo Wiese says the retailer’s overview of a forensic probe into the company’s accounting irregularities supports his 59 billion rand ($4.1 billion) claim against the company. A report by PwC that was published last week found that a small group of former managers and non-Steinhoff executives structured deals that substantially inflated profits and asset values, according to a summary the company released late Friday. Wiese, a South African billionaire…

South Africa Faces Sixth Day of Blackouts as Eskom Stumbles

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JOHANNESBURG (Capital Markets in Africa) – South Africa’s state-owned power utility will implement controlled blackouts for a sixth straight day to prevent a total collapse of the electricity grid amid a shortage of capacity. Eskom Holdings SOC Ltd. is racing to bring generating units back online after suffering outages last week that were compounded by a loss of power imports from neighboring Mozambique as a result of a cyclone. The staggered power cuts, aimed at reducing…

Ramaphosa Apologizes for Bad Infrastructure, Then Experiences It

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JOHANNESBURG (Capital Markets in Africa) – In the past 24 hours, South Africa’s President Cyril Ramaphosahad to apologize for the poor state of the country’s infrastructure before having first-hand experience of just how bad it is. On Sunday, he spoke to the national broadcaster on the sidelines of an election campaign appearance in the northern town of Mahikeng to say sorry for some of the most severe power cuts South Africans have yet experienced. The next…

Pound Slides as May Barred From Seeking Repeat Parliament Vote

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LAGOS (Capital Markets in Africa) – The pound weakened Monday as optimism that an immediate resolution could be found to the Brexit impasse dimmed. Sterling declined against all Group-of-10 currencies after Parliament speaker, John Bercow, forbid U.K. Prime Minister Theresa May from bringing her Brexit deal back for another vote if it is “substantially the same”. May was widely expected to bring her divorce plan for another try before Wednesday or use the threat of…

TRADEPASS Hosts 300 plus Industry Gurus at the Africa BFSI Innovation Summit 2019

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Over 300 BFSI industry gurus were a part of the Africa BFSI Innovation Summit 2019 that took place on the 19 – 20 February 2019 at the Mövenpick Hotel & Residences Nairobi, Kenya. The event started off with the Director – Partnerships, Innovation and Capacity Development of Kenya ICT Authority, Eunice Kariuki, inaugurating the event and delivering the keynote speech. Day 1 saw a number of presentations and panel discussions by industry experts like Sriram…

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