The Editorial Team |

Policy Stability Seen as Key African Central Bankers’ Terms End

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…

Barrick CEO to Forge Ahead in Latin America Despite Past Strains

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JOHANNESBURG (Capital Markets in Africa) – Barrick Gold Corp.’s new boss intends to push ahead with plans to increase investment in the mineral-rich — but environmentally tricky — deposits straddling the Chile-Argentina border. “If you want to find elephants, go to elephant country,” Chief Executive Officer Mark Bristow, a South African geologist and big-game hunter, said in a phone interview. The Toronto-based company “absolutely” intends to invest more money in the El Indio copper-and gold belt,…

China’s Digital Silk Road Is Looking More Like an Iron Curtain

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LAGOS (Capital Markets in Africa) – The first billboard that greets passengers arriving at the airport in Lusaka, before Pepsi’s “Welcome to Zambia,” is an advertisement for Bank of China. Nearby, a Chinese company is building a sleek terminal. On the road into the capital city, near the office of Chinese telecom company ZTE Corp., another billboard features surveillance cameras made by Hangzhou Hikvision Digital Technology Co. At the national data center built by Huawei Technologies Co., a Chinese man…

Egypt’s Inflation Stays on Target After Monthly Price Plunge

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CAIRO (Capital Markets in Africa) = Egypt’s inflation stayed within the central bank’s target range for a second month after the biggest monthly decline in at least over a decade. Consumer prices in urban parts of Egypt slipped 3.4 percent in December from November, according to data released Thursday by the state statistics agency, CAPMAS. The annual rate slowed to 12 percent in December, compared with 15.7 percent the previous month and below the ceiling of the central bank’s goal…

Madagascar Court Declares Rajoelina Winner of Presidential Vote

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LAGOS (Capital Markets in Africa) – Madagascar’s Constitutional Court declared Andry Rajoelina the winner of last month’s runoff presidential election his rival says was rigged. Rajoelina, who previously served as president from 2009 to 2014, obtained 55.7 percent of the vote, compared with 44.3 percent for Marc Ravalomanana, Jean-Eric Rakotoarisoa, the president of the court, told reporters Tuesday in the capital, Antananarivo. Rajoelina will be sworn in later this month, he said. The announcement is based on results…

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