The Editorial Team

Coinbase-Backed MARA to Help Central African Republic on Bitcoin

LAGOS (Capital Markets in Africa) – MARA, a cryptocurrency company backed by Coinbase Global Inc., said it will advise the president of the Central African Republic after the nation became the second globally after El Salvador to adopt Bitcoin as legal tender. Newly established MARA also announced its entry into Nigeria and Kenya, and that that it had secured $23 million in funding from companies including Coinbase, Alameda Research LLC and Distributed Global LLC. “MARA will become the official crypto…

Kenya, in a Corner, Presses On With Eurobond Plan as Yields Rise

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NAIROBI (Capital Markets in Africa) – Kenya’s Eurobonds are not exactly investors’ favorites. But the East African nation is forging ahead with a plan to issue another $1 billion of debt on top of existing securities that are the continent’s worst performers this year. It could cost the country, which is approaching an election in August and whose debt is at high risk of distress, according to International Monetary Fund. Yields on benchmark 10-year notes have…

Q & A session with Rupert McCammon, Founder and Managing Director, AFSIC

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In a Q&A session, Rupert McCammon, Founder and Managing Director, Africa Financial Services Investment Conference (AFSIC) provide some insights on what to expect at the AFSIC 20222 edition schedule for October 2022. AFSIC – Investing in Africa is a large scale Event and Expo focused on matching business and investment opportunities in Africa. The event has grown over many years into one of the most important conduits of investment into Africa. What can I expect to…

President, Deputy Deride Each Other Months Before Kenya Election

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NAIROBI (Capital Markets in Africa) – Kenya’s Deputy President William Ruto lashed out at his boss in a public spat, showing how deep the discord in Uhuru Kenyatta’s administration has gone ahead of elections in August. Ruto, who’s running to succeed Kenyatta, posted a tweet about a longstanding impasse in the cabinet of East Africa’s largest economy. He tweeted in response to a suggestion that he’s been absent from duty, and has become overly critical…

Putin’s Efforts to Save Ruble Spurs Zimbabwe’s President to Act

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HARARE (Capital Markets in Africa) – Zimbabwe’s President Emmerson Mnangagwa is trying to emulate Russian President Vladimir Putin in his attempt to revive Africa’s worst performing currency. Mnangagwa’s administration may announce plans as early as this week for government departments in Zimbabwe — under U.S. sanctions for economic mismanagement and human rights violations for the past two decades — to show “high preference” for the Zimbabwe dollar in the payment of services, according to Persistence…

Top Africa Pension Fund to Invest $1.6 Billion in Private Firms

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JOHANNESBURG (Capital Markets in Africa) – South Africa’s Government Employees Pension Fund will invest about 25 billion rand ($1.6 billion) in unlisted companies across the continent, according to people with knowledge of the matter, renewing a contract with its adviser more than a year after it initially expired. The Public Investment Corp., which manages more than 2.1 trillion rand in assets, will decide on the investments, according to a joint statement the two companies released on…

Manufacturers’ Mood Darkens After Deadly South African Floods

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JOHANNESBURG (Capital Markets in Africa) – A gauge measuring South African manufacturing sentiment dropped the most in nine months in April after the worst flooding in almost three decades left more than 400 people dead, damaged businesses and halted operations at the nation’s biggest port. Absa Group Ltd.’s purchasing managers’ index, compiled by the Bureau for Economic Research, dropped to 50.7 from 60 a month earlier. That’s the biggest monthly decline and the lowest reading…

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