The Editorial Team |

Jaguar to Cut 4,500 Jobs Worldwide Amid Brexit, China Slump

LAGOS (capital Markets in Africa) – Jaguar Land Rover plans to slash 4,500 jobs worldwide, as the U.K.’s biggest automobile maker responds to the sales slowdown caused by Brexit, flagging demand for diesel-powered vehicles and a downturn in China. The cuts, representing roughly 10 percent the company’s workforce, are part of a 2.5 billion-pound ($3.2 billion) push announced last year to reduce costs and boost cash flow through 2020. They come on top of the 1,500 people…

Congo President-Elect Strikes a Conciliatory Tone After Win

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KINSHASA (capital Markets in Africa) – The Democratic Republic of Congo’s incoming president, Felix Tshisekedi, will work with his predecessor to foster reconciliation and accelerate development in the poverty-stricken nation, his party said. Tshisekedi, 55, became the first opposition leader to win an election in the cobalt- and copper-rich country when electoral authorities on Thursday declared him the victor of a Dec. 30 vote. Rival candidate Martin Fayulu, who was backed by two of outgoing President Joseph Kabila’s…

Alexander Forbes Executives Resign Amid Strategic Review

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LAGOS (capital Markets in Africa) – Three Alexander Forbes Group Holdings Ltd. executives have resigned as the South African retirement, investment and insurance-services provider pushes ahead with a strategic review of its market position and business model. Chief Executive Officer at Alexander Forbes Investments Leon Greyling, Group Chief Risk Officer Vishnu Naicker and Chief Human Resources Officer Christian Schaub plan to pursue other business interests, the company said in an emailed response to questions. The departures all took effect around the start of…

Crisis and Hope: A Country Guide to Africa’s Top Political Risks

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LAGOS (capital Markets in Africa) -The start of 2019 has seen a flurry of political activity from Mali to Madagascar, with a shock opposition victory in Africa’s biggest country, protests against long-serving rulers, a short-lived coup and agitation stirred by economic mismanagement all suggesting this will be a year to watch on the continent. South Africa and Nigeria, the continent’s two biggest economies, are among more than 20 African nations that will hold elections this…

Policy Stability Seen as Key African Central Bankers’ Terms End

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LAGOS (Capital Markets in Africa) – The possible replacement of the governors of three key African central banks this year could yield an unexpected surprise: policy stability. Time is running out on the first terms of Nigeria’s Godwin Emefiele, Kenya’s Patrick Njoroge and South Africa’s Lesetja Kganyago. While all three are eligible to serve another term at the helms of their central banks, this isn’t guaranteed. Still, deepening institutional strength means there should be broad buy-in of the policies…

Russian Diplomat’s Praise of Guinean Leader Sparks Outrage

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LAGOS (capital Markets in Africa) – Russia’s ambassador to Guinea praised President Alpha Condeas “legendary” and said constitutions can be changed, outraging the opposition and fueling speculation that Russia supports plans for Conde to stay in power after his mandate ends next year. “Do you know many countries in Africa that do better? Do you know many presidents in Africa who do better?” Alexander Bregadze said in a speech broadcast on state TV late Wednesday. “Dear…

Pompeo Blasts Obama-era Mideast Policy as Flawed and Timid

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LAGOS (Capital Markets in Africa) – Secretary of State Michael Pompeo accused the Obama administration of underestimating the threat posed by Islamic extremism and Iran, delivering a speech in Cairo sharply criticizing President Donald Trump’s predecessor and declaring the U.S. a “force for good” in the region. Pompeo, speaking to an audience at the American University of Cairo on Thursday, said the Arab world must do more in the fight against extremism, reiterated U.S. support for Israel and…

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