The Editorial Team |

Congo Republic Enlists Strauss-Kahn’s Help as IMF Bailout Sought

CONGO (Capital Markers in Africa) – The Republic of Congo sought the assistance of former International Monetary Fund Managing Director Dominique Strauss-Kahn as the debt-strapped nation’s bid to secure a bailout stretches into a third year. Strauss-Kahn and Lazard France Chief Executive Officer Mathieu Pigassetraveled to the Congolese capital, Brazzaville, in January for talks with President Denis Sassou Nguesso, Finance Ministry spokesman Adrien Wayi Lewy said in an interview. “They have a great understanding of global finance and were…

France Accepts 737 Black Boxes as Macron Hunts Airbus Sales

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ADDIS ABABA (Capital Markers in Africa) – Ethiopia has sent black boxes from a crashed Boeing Co. 737 jet to France for decoding after refusing to hand them to U.S. authorities that had kept the Max model flying after most other regulators grounded it. The flight-data and cockpit-voice recorders have arrived at the Bureau d’Enquetes et d’Analyses, France’s air-accident investigator, with coordination meetings underway and technical work set to start Friday. The BEA said it will download data but hasn’t been…

Record Cocaine Busts Signal West Africa Is Transit Hub Again

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LAGOS (Capital Markets in Africa) – Record cocaine busts in Guinea-Bissau and Cape Verde have fueled fears of a resurgence of drug trafficking in West Africa that’s likely to benefit Islamist militant groups in the region. Authorities in the two former Portuguese colonies have intercepted as much as 10.4 metric tons of cocaine this year, more than the total amount seized on the entire continent between 2013 and 2016, according to the latest data available…

African Rainbow Capital to Grow Investments in East, West Africa

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LAGOS (Capital Markers in Africa) – African Rainbow Capital Investments Ltd. is expanding its portfolio outside its home market of South Africa to back businesses in the renewable energy, cold storage and financial-services sectors in West and East Africa. Through its recently-created emerging-markets division, the Johannesburg-based investment firm has entered into partnerships with the African Development Bank and the European Investment Bank to focus on infrastructure projects in the rest of the continent, co-Chief Executive Officer Johan van Zyl said…

Morgan Stanley Says It’s Time for a Bet on South African Stocks

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JOHANNESBURG (Capital Markers in Africa) – There are dark clouds aplenty casting shadows over South Africa’s economy and its equity market. But Morgan Stanley argues that the potential rewards for investors mean the country’s stocks are worth the risks. South Africa benefits from its relatively high trade with Asia and is the country in eastern Europe, the Middle East and Africa that’s most closely linked to China, which is seen as leading a rebound in emerging…

Wins in Parliament Vote Strengthen Hand of Nigeria’s Leader

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LAGOS (Capital Markets in Africa) – Wins in Nigeria’s parliamentary vote look set to strengthen the position of President Muhammadu Buhari after his re-election last month, as he bids to boost a listless economy and defeat Islamic State fighters during his second and final term. The former general’s party, the All Progressives Congress, has won more than 60 of the 109 Senate seats and is heading for a majority in the lower House of Representatives, according to partial results announced by…

World Bank Doubles Commitment to Fight Climate Change in Africa

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LAGOS (Capital Markets in Africa) – The World Bank will more than double its commitment to climate adaptation and mitigation in Africa over the next five years to $22.5 billion. “This region is particularly vulnerable to increasing floods, droughts and destructive storms,” World Bank Group Interim President Kristalina Georgievasaid in an emailed statement Wednesday. “We have to do more and do it faster, or millions of people could be plunged into poverty” due to the effects…

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