The Editorial Team |

Sudan Opposition Vows More Protests After Some Detainees Freed

SUDAN (Capital Markets in Africa) – A Sudanese opposition group vowed to keep up its demonstrations against President Omar al-Bashir’s government, describing the release of some detained protesters as an attempt to buy time. About 162 people who’d been arrested during six weeks of protests have been released by the orders of the National Intelligence and Security Services, state-run Sudan TV reported early Wednesday. The Sudanese Professionals Association, an outlawed umbrella group of unions, said authorities…

Dollar Risk to Emerging Markets Is Over for Top European Manager

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LAGOS (Capital Markets in Africa) – The rising-dollar trend that inflicted so much damage on risk appetite in 2018 is all but a thing of the past, according to Amundi Asset Management. And that can only be good for emerging markets. “The two macro threats — basically the dollar and higher interest rates coming from the U.S. — are basically diminished and they are behind us,” Pascal Blanque, group chief investment officer for Amundi, said in…

It Looks Like Deja Vu for South Africa’s Fast-Starting Rand

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JOHANNESBURG (Capital Markets in Africa) – As if January’s potential record gain isn’t enough, the rand may be in for a positive February as well if history is any guide. Seasonal data show that South Africa’s currency has strengthened against the dollar in February in seven of the past 10 years. Optimism about local political developments and a global risk-on mood spurred the rand to back-to-back monthly gains in January and February last year, and the same factors have…

Goldman Sees Egypt Tolerance for Volatility Driving Pound Swings

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CAIRO (Capital Markets in Africa) – Egypt’s abolition of a repatriation mechanism for foreign investors won’t necessarily bring about more volatility in the pound, according to Goldman Sachs Group Inc. The majority of fund flows in the local bond market over the past two years were already taking place outside the repatriation mechanism, which guaranteed foreign-exchange availability for overseas investors, Goldman said in a report. Even then, the pound remained stable, it said. Any fluctuation would…

How ‘Defeated’ Islamic State Prepares for Resurgence: QuickTake

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LAGOS (Capital Markets in Africa) – In announcing his plan to withdraw American forces from Syria, President Donald Trump said the U.S. had achieved its purpose there because it had “defeated” Islamic State, the most destructive Islamist militant organization the world has seen. Certainly the group has been subdued in Iraq and Syria by an array of forces, including the U.S. military. But Islamic State has not been finished off. Remnants continue to fight in…

Ghana Seen Facing Discipline Test as IMF Bailout Nears End

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ACCRA (Capital Markets in Africa) – Ghana will reap the rewards of higher investor confidence and lower borrowing costs if it can stick to sound financial policies without the supervision of the International Monetary Fund, the lender said. West Africa’s second-largest economy faces a test to maintain economic gains and fiscal discipline after its almost $1 billion bailout program with the IMF ends in April. Authorities are aware of the potential gains of staying the…

Eurotunnel Says It’s Ready for Worst-Case, Hard Brexit Scenario

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LONDON (Capital Markets in Africa) – Eurotunnel, the operator of the tunnel under the Channel that links the U.K. to Europe, says it stands ready for a hard Brexit. With the vote Tuesday in the U.K. parliament raising the possibility of Britain crashing out of the European Union on March 29, companies like Getlink, Eurotunnel’s parent, are beginning to pull out their plans for the most extreme outcome. “Eurotunnel has been actively preparing for all…

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