The Editorial Team |

Contagion or Not, These Emerging Markets Hold Key to Selloff

LAGOS (Capital Markets in Africa) – This year’s global emerging-market selloff has its roots in a slew of mini-roots as the era of easy-money came to an end. Consider Turkey, now paying the price for its refusal to follow orthodox monetary policy; Argentina, facing a crisis of confidence just four years of its last default; China, targeted in a trade war; and South Africa, the emerging-market proxy punished for crisis in any corner of the asset class….

South Sudanese Vow to Stop Running as Peace Deal Calms Guns

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SOUTH SUDAN (Capital Markets in Africa) – Gunshots and screams rang out as Rosemary Keji fled her village almost two years ago, one of millions of South Sudanese escaping civil war. After finally returning last month, she’s planting potatoes beside her wrecked house in Yei River state and vowing never to leave again. The 28-year-old mother of two is one of a steady trickle of refugees coming back from neighbouring countries after August’s preliminary deal to end…

Congo’s Top Court Bars Opposition Leader Bemba From Election

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KINSHASA (Capital Markets in Africa) – The Democratic Republic of Congo’s top court disqualified opposition leader Jean-Pierre Bemba from this year’s presidential election because of his International Criminal Court conviction for witness-tampering. The decision confirms the removal of a second key opponent from the race against President Joseph Kabila’s anointed successor and increases the risk of protests by Bemba’s supporters. It also raises questions about the credibility of the Dec. 23 presidential and parliamentary votes in the cobalt-rich…

MTN Faces Double Nigeria Blow With Tax Claim of $2 Billion

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LAGOS (Capital Markets in Africa) – Nigeria is seeking about $2 billion in back taxes from MTN Group Limited, another curve ball directed at Africa’s biggest wireless carrier less than a week after it was ordered to refund $8.1 billion in illegally repatriated funds. MTN outlined the tax dispute and refuted both accusations in a statement on Tuesday, yet faces an uphill battle to convince investors it won’t end up shelling out for either or both offenses in…

U.S. Embassy Bombing Attempt in Cairo Misfires

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CAIRO (Capital Markets in Africa) – An apparent attempt to bomb the American Embassy in Cairo failed on Tuesday when an explosive detonated prematurely in the backpack of a would-be attacker, the Egyptian government said in a statement. No one was injured. It was the latest reminder of the continuing threat to Western interests from the simmering unrest in Egypt that began after a military takeover five years ago. The Egyptian military is still battling to extinguish…

Nigerian Candidate Abubakar Vows to End Many Exchange Rates

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LAGOS (Capital Markets in Africa) – Nigerian presidential hopeful Atiku Abubakar said he will scrap a system of multiple exchange rates to attract foreign investment and accused President Muhammadu Buhari of failing to deal with the nation’s security challenges. “I would definitely end” the existence of several naira rates, Abubakar, a 71-year-old former vice president, told reporters Monday in Lagos, the commercial capital of Africa’s biggest oil producer. “It’s clearly anti-business and anti-foreign investment.” Investors and the International Monetary…

Bitcoin Suspect Could Shed Light on Russian Mueller Targets

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LAGOS (Capital Markets in Africa) – A cryptocurrency expert languishing in a Greek jail may have a vantage point on a tantalizing issue — how Russians in U.S. Special Counsel Robert Mueller’s crosshairs used Bitcoin to obscure their money trail. The expert, Russian citizen Alexander Vinnik, was detained last year after U.S. prosecutors in San Francisco accused him of supervising a digital-currency exchange that helped criminals launder billions of dollars. That exchange, according to cryptocurrency analysis firm Elliptic, handled some…

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