The Editorial Team |

Emerging Market Central Banks Show Power in Beating Back Attacks

LAGOS (Capitla Markets in Africa) – Emerging-market central banks are boosting investors’ confidence in their ability to withstand shocks by pursuing orthodox economic policies and ignoring political pressures. As the economic crisis in Turkey this week threatened to roil markets in developing nations, policy makers from Jakarta to Buenos Aires reacted with a steady hand. Their response — raising interest rates, selling reserves or just providing reassurance that they’re paying attention — stands in stark…

Helios Investing in Congo Towers After Scrapping IPO Plans

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LAGOS (Capital Markets in Africa) – Helios Towers Plc is investing tens of millions of dollars in the Democratic Republic of Congo and looking for acquisitions as the African phone-tower operator seeks to move on from a scrapped initial public offering earlier this year. The company plans to build 1,800 kilometres (1,118 miles) of tower network in the Congo to connect an additional 6 million people in sub-Saharan Africa’s largest country, Chief Executive Officer Kash Pandya said by…

Nigerian Senate Head Says He’s Considering Running for President

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LAGOS (Capital Markets in Africa) – Nigerian Senate President Bukola Saraki is considering running against President Muhammadu Buhari when Africa’s top oil producer holds elections in February. “I am consulting and actively considering it,” Saraki, 56, said Tuesday in an interview at his residence in the capital, Abuja. “I believe I can make the change.” After recently defecting from the ruling All Progressives Congress, Saraki said that if he decided to run, it would be under the banner of…

A $40 Billion Plan to Cash Out Of Bitcoin: Lionel Laurent

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LAGOS (Capital Markets in Africa) – A rumoured IPO of the world’s biggest crypto-miner might end up as a play on advanced AI chips. The 1980s cyberpunk novels that predicted today’s internet failed to conceive of anything as outlandish or contradictory as Bitcoin: A digital currency that’s spent nowhere, a commodity that’s used for nothing, and a libertarian dream that’s effectively run by elites. Now, after its 66-percent price drop from December highs, comes yet another fantastical…

What Could We Do With So Much Free Electricity?:

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LAGOS (Capital Markets in Africa) – Curtailment of renewables, disconnecting wind and solar when there’s too much electricity entering the grid, will be a common feature of Europe’s power system as more intermittent generation is added. That much is clear. Yet this excess electricity is probably going to create new opportunities rather than simply go to waste. Some new openings are already familiar – such as battery storage or demand response – and newer activities…

Standing Pat, Central Bank Says Rand Drop Is Blip Due to Turkey

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JOHANNESBURG (Capital Markets in Africa) – A jump in South Africa’s interest-rate bets may be little more than a reflection of the turmoil in Turkey. Forward-rate agreements, used to speculate on interest rates, increased on Monday after the rand sagged — at one point dropping the most since the 2008 financial crisis — as Turkey’s crisis sapped demand for emerging-market assets. But the South African Reserve Bank has ignored bouts of rand weakness in the past,…

Congo Opposition Will Back Single Presidential Candidate in Vote

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KINSHASA (Capital Markets in Africa) – Opposition politicians in the Democratic Republic of Congo said they’ll back a single presidential candidate in this year’s election to maximize their chances of defeating the long-serving head of state’s chosen successor. Such an outcome would increase the prospect of opponents of President Joseph Kabila defeating his anointed replacement. The Dec. 23 vote is a one-round contest and multiple candidates would split the opposition vote. “The leaders of the opposition are…

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