The Editorial Team |

Biggest Mauritian Bank Sees Infrastructure Boost for Economy

PORT LOUIS (Capital Markets in Africa) – Mauritius’s biggest bank expects economic growth to accelerate next year, driven by railway, road and other infrastructure projects, its chief executive officer said. The Indian Ocean island nation’s economy will probably grow 4 percent in 2019, compared with 3.8 percent this year, MCB Group Ltd. CEO Pierre Guy Noel said in an interview Monday in Ebene, south of the capital, Port Louis. “We are expecting to benefit, in 2019, from the…

Nordex Wins Order for 80 Wind Turbines to South African Projects

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JOHANNESBURG (Capital Markets in Africa) – Nordex SE was awarded contracts to supply 80 turbines with a total capacity of 252 megawatts to the Garob and Copperton onshore wind projects in South Africa. The turbine manufacturer will build 46 AW125/3150 units for the Garob project ordered by Enel Green Power and 34 for Copperton ordered by developer Elawan, Hamburg-based Nordex said in a statement. “Such announcements bode well for the beleaguered projects that had to wait…

Moody’s: South Africa’s banking system outlook changed to stable from negative

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JOHANNESBURG (Capital Markets in Africa) – Moody’s has changed its outlook on the South African banking system to stable from negative, reflecting the expected resilience of the banks’ financial metrics and creditworthiness over the next 12-18 months, despite weakening operating conditions, Moody’s Investors Service said in a report today. Moody’s report, “Banking System Outlook – South Africa, Resilient financials amid a weakening economy drive our stable outlook” is available on www.moodys.com. Moody’s subscribers can access…

Get Ready for Big Bitcoin: Cryptocurrency Industry Opens a D.C. Lobbying Arm

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LAGOS (Capital Markets in Africa) – The price of bitcoin may be down, compared with last year’s meteoric heights. But industry officials aren’t waiting for the next spike in investor demand to launch a charm offensive targeting federal lawmakers and regulators who’ve taken an interest in cryptocurrencies. Tech veterans and a number of high-profile cryptocurrency companies on Tuesday said they are forming the Blockchain Association, the first fully fledged lobbying group in Washington representing entrepreneurs…

Bitcoin Bulls Are Sweating Latest Test of Key Resistance Level

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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…

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