The Editorial Team |

Islamic State Wreaks Havoc as Turbulent Nigeria Nears Vote

LAGOS (Capital Markets in Africa) – Amina Sanusi was getting ready for morning prayers at her home in northeastern Nigeria when she heard gunshots and explosions. She scrambled into nearby bushes with her two children, but lost contact with her husband. Government soldiers in the fishing town of Baga on the shores of Lake Chad fled too, overwhelmed by the firepower of Islamist militants. Like thousands of others since an upsurge in attacks that started…

Why So Much Is at Stake in Nigeria’s Elections: QuickTake

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LAGOS (Capital Markets in Africa) – Almost every Nigerian vote since independence in 1960 has been dogged by varying degrees of conflict and allegations of rigging. That’s one reason why the 2015 election that saw Muhammadu Buhari, now 76, become the first candidate in the nation’s history to topple a sitting president through the ballot box was such a watershed moment. But the former military ruler has presided over four years of lackluster growth and fallen short on…

Trump Flexible on China Tariff Deadline as He Seeks `Real Deal’

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LAGOS (Capital Markets in Africa) – President Donald Trump said he’s open to extending a March 1 deadline to raise tariffs on Chinese products if the two sides are near an agreement, sending a conciliatory signal amid talks to resolve the trade war between the world’s two biggest economies. “If we’re close to a deal where we think we can make a real deal and it’s going to get done, I could see myself letting that slide…

A Recession Is Just One Reason Bund Yields Could Go Below Zero

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LAGOS (Capital Markets in Africa) – Yields on benchmark German government bonds are within touching distance of zero percent for the first time in almost three years as Europe’s economic performance stalls and concerns over global trade spur investors toward havens. A no-deal Brexit, upheaval in Italian politics or a deteriorating labor market are among the risks that could turn bund yields negative, according to strategists. Sub-zero yields on 10-year bonds would mark a step…

Europe Is Emerging as the Real Weak Link for Global Economy

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LAGOS (Capital Markets in Africa) – For all the palpitations that the trade war between the U.S. and China will knock out their economies, it is Europe that increasingly looks like the biggest threat to global growth. Industrial production across the 19-nation euro area is falling at the fastest pace since the financial crisis, and deteriorating demand is evident as the region finds itself squeezed between international and domestic drags. That leaves expansion at risk of…

Namibia Holds Rate as Economy Seen Growing First Year in Three

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WINDHOEK (Capital Markets in Africa) – Namibia’s central bank held its key interest rate and said that the economy will probably expand in 2019 after two straight years of contraction. The Monetary Policy Committee maintained the rate at 6.75 percent, Deputy Governor Ebson Uanguta told reporters Wednesday in the capital, Windhoek. The economy of the world’s largest marine-diamond producer contracted last year, but the drop was smaller than in 2017, Uanguta said, adding that the…

Tullow Reinstates Dividend After Returning to Profit Last Year

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ACCRA (Capital Markets in Africa) – Tullow Oil Plc will pay a dividend for the first time since 2014 after returning to profit last year. “The board has decided to recommend a final dividend of 4.8 cents a share, representing a total shareholder return of about $67 million,” the oil producer said in its 2018 results statement. The payback follows success in cutting debt and reflects increased confidence after drilling in Guyana was brought forward. “We take…

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