The Editorial Team |

Emerging-Market Volatility Bets Rise as Trade War Rattles Yuan

LAGOS (Capital Markets in Africa) – Emerging markets may be headed for a period of increased volatility as the midyear lull saps liquidity and the U.S.-China dispute leaves traders struggling to decipher the yuan’s likely direction. Chinese, Taiwanese and Philippine trade data for July this week will give an indication of whether the trade tension is starting to weigh on regional exports. The standoff has already prompted BlackRock Inc., the world’s largest asset manager, to trim its holdings…

South Sudan Rivals Sign Deal Seeking to End Five-Year War

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SOUTH SUDAN (Capital Markets in Africa) – South Sudan’s warring parties signed a peace deal granting rebels key positions in a transitional government, the latest bid to end an almost five-year conflict that’s claimed tens of thousands of lives. The accord will restore rebel leader Riek Machar as President Salva Kiir’s deputy, while appointing four other vice presidents and adding new posts for ministers and lawmakers. Following the collapse of a similar pact in July 2016, it will…

Safaricom Blames Regulator for Underinvestment by Kenyan Rivals

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NAIROBI (Capital Markets in Africa) – Safaricom Plc accused Kenya’s telecommunications regulator of failing to enforce investment requirements for smaller competitors in return for their licenses, meaning the market share of East Africa’s biggest listed company went unchallenged. Kenyan lawmakers are studying a report by U.K.-based advisory group Analysys Mason that found Safaricom to be a dominant player in mobile money and mobile communications. It recommended the company open up its mobile-money platform known as M-Pesa to…

Waning Support in Nigeria’s North Poses Vote Risk for Buhari

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LAGOS (Capital Markets in Africa) – Nigerian President Muhammadu Buhari’s re-election bid is facing a growing challenge as members of his party defect to the opposition and support diminishes in a key region that’s stood by him politically for 15 years: the north. Home to about 40 percent of the West African nation’s voters, Nigeria’s North East and North West regions have long been Buhari’s bedrock — he carried them in three failed bids for the…

Mali’s President, Ex-Finance Minister to Contest Runoff Vote

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BAMAKO (Capital Markets in Africa) – Malian President Ibrahim Boubacar Keita and a former finance minister will contest a runoff vote in the country’s presidential elections after no candidate secured a majority in the first round. Keita secured 41.4 percent of ballots cast in the July 29 election and his main opponent, Soumaila Cisse, obtained 17.8 percent, the Ministry of Territorial Administration said in a statement on Thursday. Turnout was 43 percent of the more than 8 million…

South African Banks Set to Show How Malaise Is Gripping Economy

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JOHANNSBURG (Capital Markets in Africa) – South African banks face another wasted year for earnings growth as the euphoria that greeted Cyril Ramaphosa’s ascendancy to the presidency fades with the reality of the challenges facing the economy. The country’s largest lenders start reporting first-half results from next week against the backdrop of tax hikes, record gasoline prices, stubbornly high unemployment and an economy that is showing little sign of recovering after shrinking in the first quarter. While banks have…

Ghana Merges Five Failed Lenders in $1.2 Billion Bank Rescue

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ACCRA (Capital Markets in Africa) – Ghana’s banking regulator said it created a new lender through a merger of five insolvent banks as the country issued 5.8 billion cedis ($1.2 billion) in bonds to clear their debt. Bank of Ghana revoked the licenses of Unibank Ghana Ltd., Royal Bank Ltd., Beige Bank Ltd., Sovereign Bank Ltd. and Construction Bank Ltd., GovernorErnest Addison told reporters Wednesday in the capital, Accra. The lenders were among the smallest of Ghana’s…

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