The Editorial Team |

Bitcoin Bulls Are Sweating Latest Test of Key Resistance Level

JOHANNESBURG (Capital Markets in Africa) – Bitcoin’s recent stumble could turn into a full-blown tailspin, testing its strong support level of $6,000 again, according to a leading technical indicator. The biggest cryptocurrency has bounced off the $6,000 mark four times since February, and a break below that price could signal further capitulation. The GTI VERA Convergence Divergence indicator, which detects trend reversals and exhaustion, just ended its longest buy streak since July, suggesting more losses…

In Bulldozer’s Tanzania, Court Gives Rare Flicker of Dissent

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DAR ES SALAAM (Capital Markets in Africa) – In President John Magufuli’s Tanzania it’s illegal to protest. It can also be illegal to blog anonymously or criticize parliament. If you’re a schoolgirl who becomes pregnant and wants to keep attending classes, that’s illegal. If you’re a musician who sings about sex or politics, your songs might be illegal. The lack of freedom getting you down? You could complain about it all on social media. Except that may be illegal….

Libya Capital Airport Closed as Rockets Shatter UN Ceasefire

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TRIPOLI (Capital Markets in Africa) – Tripoli’s international airport was closed and flights rerouted after a series of overnight rocket attacks rendered all but meaningless a ceasefire announced by the United Nations days earlier. Inbound flights were being sent to the city of Misrata, Libyan television reported, noting that there were no reports of injuries from the attacks. The Maitiga International Airport’s Facebook page said that no planes were damaged in the violence. The incidents came…

First Genetically Modified Mosquitoes Set to Be Released in Africa

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LAGOS (Capital Markets in Africa) – A new front has been opened up in the battle against malaria with the release of the first ever genetically modified mosquitoes in Africa. Some 10,000 sterile male mosquitoes will be released in Burkina Faso, a country at the front line of the war against the disease. Last year there were 9.8m cases of malaria here, resulting in almost 4,000 deaths. Malaria is the biggest killer of children under…

Birth Control for Tanzanians? President Says `No Thanks’

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DAR ES SALAAM (Capital Markets in Africa) – President John Magufuli said Tanzanians have no need for birth control and only those who are lazy and can’t feed their children should use contraception. The 58-year-old leader has embarked on a nationwide anti-corruption drive and cut wasteful government spending since winning elections in 2015, but criticism of his administration is growing amid a clampdown on the media and the opposition. In a speech to citizens in Simiyu, northern…

Kenya Rate-Cap Retention Dents Policy Credibility, Moody’s Says

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NAIROBI (Capital Markets in Africa) – Kenyan lawmakers’ move to postpone a value-added tax on fuel and their failure to repeal a cap on commercial lending rates weakens the government’s fiscal-policy credibility, Moody’s Investors Service said. While President Uhuru Kenyatta can still reject the proposed amendments to legislation, they could exacerbate Kenya’s “sizeable financing needs in light of the government’s recurring fiscal deficits and growing debt burden,” Moody’s Vice President Lucie Villa said in an emailed report Monday. The 16 percent…

Zimbabwe Will Accelerate Debt Plan, Finance Minister

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HARARE (Capital Markets in Africa) – Zimbabwe will fast-track plans to settle its debt arrears, a key step needed to restore investor confidence in the country’s economy, Finance Minister Mthuli Ncube said. The government needs funds to rebuild an economy battered by almost two decades of misrule under former President Robert Mugabe that’s left infrastructure crumbling and crippling cash shortages. Emmerson Mnangagwa, who won a disputed presidential election last month, has said his government plans to prioritize the repayment of…

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