The Editorial Team |

Ghana’s $3 Billion Eurobond Foray Comes at a Tricky Time

ACCRA (Capital Markets in Africa) – Ghanaian officials are preparing to meet fixed-income investors in the U.S. and London this week as they look to issue a $3 billion Eurobond. It could be a tough sales pitch. An offering from the West African nation’s government may well be imminent, but only if officials are satisfied with the price that traders demand. That’s a big if, given Ghana’s battle with the world’s weakest currency this year, and concerns…

Dirty Money Finds Home in U.K. as Regulators Fail, FCA Says

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LONDON (Capital Markets in Africa) – U.K. organizations supervising accountants are too worried about pleasing their membership to live up to their duty to crack down on money laundering, setting back attempts to rid the country of billions of pounds of dirty money, according to a new report. Some of the U.K.’s 22 groups overseeing accountants and lawyers did no anti-money laundering supervision whatsoever, the Office for Professional Body Anti-money Laundering Supervision said in its…

Pound Slides as Optimism on May’s Revised Brexit Deal Fizzles

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LONDON (Capital Markets in Africa) – The pound slid in a swift turn of fortunes on speculation that a revised Brexit deal negotiated overnight won’t pass Parliament. Sterling fell more than 1 percent after U.K. Attorney General Geoffrey Cox said that legal risks remained over the Irish backstop, damping the prospect of Prime Minister Theresa May garnering enough support from lawmakers in a vote Tuesday. U.K. government bonds erased an earlier decline. “Sterling has been knocked back on the news that…

May’s Brexit Deal in Danger After Cox Warns of Backstop Risk

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LONDON (Capital Markets in Africa) – U.K. Prime Minister Theresa May is facing a potentially catastrophic defeat for her Brexit strategy as members of Parliament line up to attack her revised deal, hours before they are due to vote on it. If she loses the critical vote on Tuesday evening by a large margin, the risk is it will spell the end for the agreement May has spent the past two years painstakingly piecing together with the…

More Seats Than Candidates as Madagascar Prepares for Elections

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MADAGASCAR (Capital Markets in Africa) – Madagascar may not have enough candidates to compete in legislative elections scheduled for May 27. A day before registration closes, only 88 candidates have registered to take part in the vote for the Indian Ocean island nation’s 151-seat parliament. The previous ballot in 2013 attracted 2,069 candidates. The low turnout comes two months after the government increased the registration deposit that candidates must pay the electoral authority to 5…

Ramaphosa’s Economic Plans Blunted by Foes in South Africa’s ANC

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JOHANNESBURG (Capital Markets in Africa) – Factions in South Africa’s ruling African National Congress are seizing the policy initiative and undermining President Cyril Ramaphosa’s efforts to revive the nation’s flagging economy, according to Robert Schrire, a political science professor at the University of Cape Town. Since Ramaphosa replaced Jacob Zuma as president a year ago, after winning the party leadership vote by the narrowest of margins, his opponents have retained some top ANC and state posts and advocated policies…

Ethiopian Airlines, With a Tradition of Training Pilots, Wants to Become Africa’s Leading Carrier

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ADDIS ABABA (Capital Markets in Africa) – By the time he was 29, Yared Getachew was the youngest captain at Ethiopian Airlines. Despite his relative youth, he had spent a decade with the carrier, eventually piloting wide-body jets that crossed continents and oceans. Like so many of the airline’s pilots before him, Captain Getachew, who died on Sunday in the crash of Flight 302, was a graduate of the Ethiopian Airlines Aviation Academy. The competitive school, which…

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