The Editorial Team |

Tunisia Braces for Day-Long Strike as Wage Talks Collapse

TUNIS (Capital Markets in Africa) – Tunisia’s powerful labor federation said it will go ahead with a day-long strike on Thursday after talks with the government collapsed, a new hurdle for authorities under intense pressure to cut spending. The powerful General Labor Union, or UGTT, had been pressing for higher public sector pay. But the raises it sought would undercut an economic reform plan that was a condition for a $2.9 billion International Monetary Fund loan. The…

Egypt Plans Up to $7 Billion in International Bond Sale in 1Q

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CAIRO (Capital Markets in Africa) – Egypt plans to issue between $3 billion and $7 billion worth of international bonds in the first quarter of the year, Finance Minister Mohamed Maait said Sunday, as an outflow of foreign capital in local debt markets could test its ability to meet budget deficit reduction targets. The cabinet has given “us the flexibility to issue what we need within this range” and also flexibility regarding the currencies, Maait said in…

Talks Underway to Build New Gas Pipeline to Egypt, Israel Says

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CAIRO (Capital Markets in Africa) – Talks are in progress to build a new underwater gas pipeline between Israel and Egypt, part of efforts to transform the eastern Mediterranean into an energy export hub on Europe’s doorstep, Israeli Energy Minister Yuval Steinitz said. Israeli gas stocks rose. Construction could begin as early as next year on the pipe to transport gas from Israel’s offshore Leviathan and Tamar fields to Egypt’s existing liquefied natural gas plants for processing…

Africa BFSI Innovation Summit 2019: Embracing Innovation For A Better Africa

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Africa BFSI Innovation Summit 2019 is scheduled to take place on 19 – 20 February 2019 at the Mövenpick Hotel & Residences Nairobi, Kenya. Digital transformation is the way forward for banks, insurers, capital market firms, and financial regulators around the world. Experts are of the opinion that Africa is leading the world in financial innovation and digital space is currently the number one priority for CEOs from across different markets in Africa. Against this…

Nigeria Misses Out on Emerging-Market Rally as Vote Nears

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LAGOS (Capital Markets in Africa)- Emerging-market assets may be enjoying a strong start to the year, but one country missing out on the rally is Nigeria. With investors fretting about tight elections just a month away, low oil prices and escalating violence, there’s little to suggest there’ll be an immediate turnaround. The main stock index in Lagos, the commercial capital, has lost 4.1 percent since the end of 2018, which is the biggest drop globally after Serbia, Romania and Bulgaria,…

Congo Opposition’s Fayulu to Challenge Vote Results in Court

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KINSHASA (Capital Markets in Africa) – Democratic Republic of Congo opposition leader Martin Fayuluwill go to court to challenge results that showed he lost last month’s presidential election. Fayulu claims official results showing rival opposition candidate Felix Tshisekedi won the Dec. 30 poll were rigged and has urged his supporters to protest against them. Fayulu topped an opinion poll before the vote, and Western diplomats have said an observer mission run by the country’s influential Catholic Church found…

Cerba, Lancet Are Said to Agree Africa Deal for $123 Million

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LAGOS (Capital Markets in Africa) – Cerba HealthCare SAS, the French owner of a global network of medical laboratories, is expanding in Africa by buying some of Lancet Laboratories’ operations for as much as 12.5 billion Kenyan shillings ($123 million), said a person familiar with the matter. Paris-based Cerba will hold a 51 percent stake in a joint venture with the South African company that will operate in 11 African countries, said the person who…

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