What to Watch in Commodities: Big Oil, Venezuela, Gold, Glencore

What to Watch in Commodities: Big Oil, Venezuela, Gold, Glencore

LAGOS (Capital Markets in Africa~) – Investors face a week packed with market-moving events: earnings season brings results from Big Oil; the U.S. and China resume trade talks; and the Federal Reserve embarks on a new era of openness. On top of that, iron ore investors are absorbing the impact of a second deadly mine disaster for Vale SA, and the U.S. just lifted sanctions on United Co. Rusal. Among companies reporting, Royal Dutch Shell Plc, Exxon Mobil…

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Civilians Trapped as Cameroon Army Battles Separatists

Civilians Trapped as Cameroon Army Battles Separatists

YAOUNDE (Capital Markets in Africa) – Cyprain fled his home when separatist fighters in Cameroon’s Northwest region threatened to kill him after he served government soldiers at his roadside bar. He’s one of a growing number of civilians trapped between the army and roaming gangs of English-speaking insurgents fighting to break away from the majority-Francophone nation. The conflict has decimated the local economy in the conflict zone, and according to the United Nations, left hundreds…

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Desperation Erodes Fear: Protesters Brave Zimbabwe Crackdown

Desperation Erodes Fear: Protesters Brave Zimbabwe Crackdown

HARARE (Capital Markets in Africa) – In four decades of independence, Zimbabwe’s rulers have been able to deploy the security forces to crush protests even as the southern African nation sank deeper into economic crisis. Judging from the latest bout of unrest, that may no longer be true. Crowds showed little fear as they poured onto the streets of the capital, Harare, and other major cities when the main labor federation called a three-day stay-away…

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Nigeria’s Opposition Leader Says Buhari Breaching Constitution

Nigeria’s Opposition Leader Says Buhari Breaching Constitution

LAGOS (Capital Markets in Africa) – Nigeria’s main opposition candidate in next month’s elections, Atiku Abubakar, said President Muhammadu Buhari breached the constitution by suspending the nation’s top judge last week. “I want to note the universal condemnation of this unlawful act by all Nigerians, as well as the international community,” Abubakar, 72, said at a press conference Monday in Abuja, the capital. “How we react to this challenge in the following days will determine the fate of…

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Côte d’Ivoire’s SIR financing highlights innovations in Africa’s debt markets

Côte d’Ivoire’s SIR financing highlights innovations in Africa’s debt markets

ABIDJAN (Capital Markets in Africa) – Côte d’Ivoire’s Société Ivoirienne de Raffinage (SIR), West Africa’s largest oil refinery, has secured a €577mn debt financing which will help it repay historical obligations on crude supply and reduce the interest rate of its stock of debt. The facility will also enable SIR to upgrade its plant and align it to international environmental emissions standards, with a view to business expansion. In recent years, Côte d’Ivoire has put…

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‘Frontier vibe’ still driving advances” in South Africa

‘Frontier vibe’ still driving advances” in South Africa

JOHANNESBURG (Capital Markets in Africa)  – The Financial Times published on Thursday January 24 a first-ever special report on Innovation in South Africa. Africa editor David Pilling in his lead article writes that “homegrown innovators are fighting the brain drain and finding ways past a funding squeeze.” The six-page edition casts a bright light on South African technology, research, energy industry, white space television, and water solutions– one of the most positive indications of a…

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Kenya leads in Cryptocurrency predictions for 2019 in the East Africa Region

Kenya leads in Cryptocurrency predictions for 2019 in the East Africa Region

— As we start 2019, it is an opportune time to reflect on the year that was and forge the way forward. The cryptoeconomy celebrated its 10th  birthday in 2018, reaching a total market capitalization of approximately $138.6 billion (KSh 14.2 trillion). In spite of a fluctuating market, a leading global peer-to-peer Bitcoin marketplace, Paxful (www.Paxful.com), saw an upswing in activity, driven by African consumers in which servicing the underbanked resulted in significant gains. Africa conducted 6.5 million trades…

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