The Editorial Team |

Congo Opposition Leader Backs Electoral-Commission Results Delay

KINSHASA (Capital Markets in Africa) – Democratic Republic of Congo presidential candidate Felix Tshisekedi backed the electoral commission’s postponement of election results, cleaving the opposition’s response to the delay. The National Independent Electoral Commission, or CENI, put off the announcement of the outcome of the Dec. 30 presidential election indefinitely on Sunday — the day it was scheduled to announce a provisional winner. While two African observer missions endorsed the polls, rival opposition candidate Martin Fayulu criticized the delay…

Mozambique Loan Bribe Claims May Void Debts, Law Professor Says

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MAPUTO (Capital Markets in Africa) – The arrest of Mozambique’s ex-finance minister and three former Credit Suisse AG managers over alleged bribes could render void about $2 billion of project loans to the country, according to Mitu Gulati, a law professor at Duke University in the U.S. The projects, a tuna fishing and coastal protection system, were created to enrich those involved, and at least $200 million of the proceeds went to bribes and kickbacks, according to an…

Gabon Coup Attempt Poses Little Risk to Oil Market

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LAGOS (Capital Markets in Africa) – Any potential disruption to Gabon’s oil output, following a military coup attempt, would only have an impact on a small share of OPEC’s total output because the country produces so little. Military officers seized Gabon’s state broadcaster Monday in what appeared to be a coup against ailing President Ali Bongo. The soldiers who attempted the coup have been arrested and there has been no reported disruption to the country’s oil output, which accounts for…

No Looking Back for S. African Rand as Bears Lose Conviction

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JOHANNESBURG (Capital Markets in Africa) – Rand bears are on the retreat as South Africa’s currency heads into 2019. The currency got off to a blistering start to the year, adding 3 percent amid receding worries over the U.S.-China trade war and the Federal Reserve’s second thoughts about policy tightening. And in a sign investor are leaving last year’s 14 percent slump behind them, some bearish indicators back at levels last seen before Turkey’s meltdown in August….

Bitcoin Pushes Past $4,000 as Technical Gauge Turns Positive

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LAGOS (Capital Markets in Africa) – Bitcoin climbed above $4,000 for the first time this year, helping to push the volatile cryptocurrency into positive territory after a brutal 2017 that saw investor post losses of more than 70 percent. The biggest digital currency gained as much 6.4 percent to $4,077 in New York. Other tokens were One technical measure that traders follow indicates more gains may be in store. The Directional Movement Index crossed into positive territory for…

South African Open: Betting Tips for Golf

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For the calendar year of 2018, there are just two European Tours left to happen in the game of Golf, and they are both scheduled to occur in the beautiful country of South Africa. The coming week will see Johannesburg hosting the South African Open. Where Will The Matches be Played? You can find the action happening at the Randpark Golf Club in Johannesburg. Interestingly it is also going to be the first time since…

Zambia Tax Hike to Make Most Mines Unprofitable, Group Says

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LUSAKA (Capital Markets in Africa) – More than half of the copper mines in Zambia, Africa’s second-biggest producer of the metal, will probably be unprofitable next year with thousands of jobs on the line, as the nation raises taxes for operators, the country’s biggest industry lobby group said. The effective tax rate will range from 86 percent to 105 percent, with about 27,900 jobs at risk, the Zambia Chamber of Mines said in a statement…

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