The Editorial Team |

New ZAR X app to drive market inclusion, broaden investor pool

JOHANNESBURG (Capital Markets in Africa) – ZAR X today took a major step toward broadening financial inclusion in the country following the official launch of its new mobile app. The ZAR X Mobi app makes it simple and easy for anyone to access the stock market in real-time via a smartphone or any Internet-enabled device to trade in the shares of companies listed on ZAR X exchange. “This web-based app will break down the barriers…

Brexit or Not, Britain’s Real Economic Threat Is Here to Stay

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LONDON (Capital Markets in Africa) – In the relentless political drama of Brexit, the closure of a small ball-bearing factory 95 miles (152 kilometers) west of London barely registered outside the local community. The loss of the Stonehouse plant will cost 185 jobs, hardly the thousands some companies say are under threat because of the upheaval from leaving the European Union. Nor did the December announcement come with the kind of political noise surrounding Japanese carmaker Nissan…

Brexit Yields Rare Accord as Officials Aim to Avert Market Chaos

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LONDON (Capital Markets in Africa) – With the U.K. deadlocked over Brexit, financial regulators scored a rare accord aimed at preventing chaos in markets should Britain leave the European Union without a deal. Authorities in the U.K. and the EU redoubled efforts in recent days to ensure trillions of euros in transactions can continue unimpeded. The Bank of England reached an agreement with the European Securities and Markets Authority that will enable derivatives to be…

UBS Bets This Time Is Different; Shorts Rand Versus Lira

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JOHANNESBURG (Capital Markets in Africa) – Shorting the rand against the lira is a popular trade that doesn’t always pay off. But this time is different, a technical signal suggests. UBS Group AG on Wednesday recommended the trade, which Wall Street heavyweights including Bank of America Corp. and JPMorgan Chase & Co. have tried in the past without success. The rand has been the best performing currency in the world this year with a 7 percent gain against…

IMF’s $2 Billion for Egypt Comes With Warnings on Challenges

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CAIRO (Capital Markets in Africa) – The International Monetary Fund told Egypt to push ahead with efforts to curb inflation, cut debt and allow for a more flexible exchange rate after signing off on a loan tranche of about $2 billion. In a statement following the IMF’s approval on Tuesday to release the fifth installment of Egypt’s $12 billion loan after a two-month delay, the fund said its macroeconomic outlook remains favorable and praised the government’s enactment of policies. Even so,…

Don’t Be Fooled by Emerging-Market Comeback Says This Japan Fund

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LAGOS (Capital Markets in Africa) – Don’t be fooled into believing that the emerging-market rally fueled by a “patient” Federal Reserve will last throughout 2019. Satoru Matsumoto, a fund manager at Japan’s Asset Management One Co., which oversees the equivalent of about $490 billion, said the economic slowdown in China followed by the U.S. amid trade tensions will weigh on assets. While developing-nation stocks just completed their best month since March 2016, and currencies scored the biggest…

South Africa’s Eskom Sees Loss Widening to $1.5 Billion

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JOHANNESBURG (Capital Markets in Africa) – South Africa’s state-owned power utility Eskom Holdings SOCLtd. expects a loss of around 20 billion rand ($1.49 billion) for the financial year through March. The estimated loss “is our view based on December 2018 forecasts to year end,” Eskom said in an emailed reply to questions, and due to higher costs to meet demand and to address generation performance. Eskom has said its situation is unsustainable and the government is…

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