The Editorial Team |

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…

In Africa and the Middle East, domestic banking constraints intensify liquidity risks as global markets tighten

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LAGOS (Capital Markets in Africa) – Significant constraints on banks’ capacity and willingness to absorb potential increases in government financing needs in the event of a shock are intensifying government liquidity risks in Angola (B3 stable), Bahrain (B2 stable), Ghana (B3 stable), Kenya (B2 stable) and Lebanon (Caa1 stable) Moody’s Investors Service said in a report today. The report, “Sovereigns — Africa and Middle East, Domestic banking constraints intensify liquidity risks as global markets tighten”,…

BCS Americas announces global equity trading platform

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LAGOS (Capital Markets in Africa) – BCS Americas (BCSA) a division of BCS Global Markets (BCS GM) has announced the launch of a new trading platform that will provide global equity execution and settlement capabilities to institutional investors with access to a suite of algorithmic trading tools accessible 24 hours a day, 5 days a week. BCS GM first unlocked Russian markets for US investors with the launch of BCS Americas in 2016. BCS Americas…

Media announcement for the African Islamic Fintech Summit (SAIFI)

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Under the high patronage of the Tunisian Head of government and the Ministry of Development, Investment and International Cooperation of the Republic of Tunisia, the International Islamic Finance Training Institute (IIFTI) and I-Fintech Solutions (IFTS) are organizing the African Islamic Fintech Summit (SAIFI). SAIFI is jointly organized with the Islamic Corporation for the Development of the Private Sector (ICD) and the Tunisian Association of Islamic Finance (TAIF) and will take place during the 16th and…

Tanzania to Cancel Licenses for Undeveloped Mineral Sites

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DAR ES SALAAM (Capital Markets in Africa) – Tanzania intends to cancel permits for mineral sites belonging to large-scale miners that remain undeveloped and will allocate the licences to smallholders, President John Magufuli said. The announcement comes amid a tax dispute between the state and Acacia Mining Plc, in which the government is demanding $190 billion in penalties, after claiming the company had under-declared export revenue since 2000. The East African nation surpassed its mining-revenue targets for the…

For Black South Africans, Land Seizure Is a Question of Justice

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JOHANNESBURG (Capital Markets in Africa) – As the land-seizure debate divides South Africa and threatens to spook investors, for many black citizens the issue isn’t about farming — it’s about justice. President Cyril Ramaphosa says his ruling party plans to amend the constitution to permit seizing land without compensation to address the inequities of laws during white-minority rule that at one time put 87 percent of South Africa’s land in the hands of whites. The goal is…

Free Float Would Send Naira Tumbling, Nigeria Governor Says

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ABIDJAN (Capital Markets in Africa) – Ivory Coast’s president, Alassane Ouattara, plans to seek a third five-year term in next year’s presidential polls as his ruling coalition is set to face stronger competition for votes, according to three people familiar with the matter. Ouattara, 77, has informed his inner circle in the Rally of Houphouetists for Democracy and Peace coalition about his intentions, even though he hasn’t decided when the plan will be announced, said the…

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