Author: The Editorial Team

LUSAKA (Capital Markets in Africa) – Zambia plans to trim its fiscal deficit next year even as Africa’s second-biggest copper producer boosts spending. It may be considering raising mine taxes to achieve that, according to analysts. The Finance Ministry is targeting a budget shortfall of 6.5 percent of gross domestic product next year, compared to 7.4 percent this year, according to a medium-term expenditure plan that sets its fiscal course until 2021. At the same time, it…

NAIROBI (Capital Markets in Africa) – Kenya plans discussions with low-cost airlines such as Ryanair Holdings Plc and easyJet Plc to begin flying to the East African nation famous for its beaches and safaris, its tourism minister said. Tourism is one of the country’s biggest generators of foreign exchange after remittances and agricultural exports, and earned the nation 119.9 billion shillings ($1.2 billion) last year, according to the Kenya Tourism Board. “We are developing a strategy to encourage low-cost…

JOHANNESBURG (Capital Markets in Africa) – Africa is entering the oil-hunt spotlight as drillers, flush with cash after crude’s recovery, are turning their attention back to the continent’s potentially vast resources. The world’s biggest companies from Exxon Mobil Corp. to Royal Dutch Shell Plc and BP Plc are setting up camp across Africa. Armed with stronger balance sheets and higher crude prices the industry is on track to double drilling in African waters this year. Rising natural gas demand is adding…