The Editorial Team |

As Islamist Insurgency Deepens, Mali President Seeks New Term

BAMAKO (Capital Markets in Africa) – Life in Mali’s presidential palace, an imposing mansion with manicured lawns and splashing fountains overlooking the capital, Bamako, has become increasingly lonely for President Ibrahim Boubacar Keita, who is seeking a second term in elections to be held on Sunday. The front-line in a regional war against jihadists whose bombings and hit-and-run attacks are growing more sophisticated by the month, Mali’s failure to quash a fractured Islamist insurgency has reverberated…

South Africa Central Bank Nationalization Expensive, Governor Says

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JOHANNESBURG (Capital Markets in Africa) – The nationalization of the South African Reserve Bank could be a protracted and expensive legal process because some of its shareholders seek to make a profit out of the move, Governor Lesetja Kganyago said. “A group of shareholders is agitating for the SARB’s nationalization as they believe that they are entitled to a share of the assets of the SARB and see this as an opportunity to make enormous profits at…

Zuma Fights to Halt Prosecution in Arms-Deal Corruption Case

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JOHANNESBURG (Capital Markets in Africa) – Former South African President Jacob Zuma is seeking to ensure that his corruption case is never heard by applying for a permanent stay of prosecution over charges related to an arms deal two decades ago. Zuma appeared in the High Court in the eastern city of Pietermaritzburg on Friday where the case was provisionally postponed until Nov. 30. Lawyers for Thint, the company that was the South African unit of French…

Mass Defections Upend Nigeria as Buhari Seeks Re-Election

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LAGOS (Capital Markets in Africa) – After a series of missteps on economic and security issues, one of the things Nigerian President Muhammadu Buhari could pin his re-election hopes on was a feeble opposition. Not anymore. More than fifty lawmakers and a state governor quit Buhari’s ruling All Progressives Congress this week, with the vast majority switching allegiances to the People’s Democratic Party. While both parties have struggled with internal divisions, the mass defections are breathing new…

Foreign Money Is Trickling Back Into South Africa’s Bonds

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JOHANNESBURG (Capital Markets in Africa) – After almost three months of unabated selling, foreign investors are making a cautious return to South Africa’s bond market. Non-residents were net buyers of the country’s government debt for the second week running last week as emerging-market sentiment improved and inflation in South Africa fell short of analysts’ estimates. The inflows have been small: about 1.6 billion rand ($119 million) since July 9, compared with almost 60 billion rand of outflows in the…

Anglophone Revolt Seen Raising Risk of Civil War in Cameroon

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YAOUNDE (Capital Markets in Africa) – Sama Jude knew it was time to flee his home town in western Cameroon when he heard the sound of gunfire ringing above the roof of the University of Buea where he’s taught for four years. As clashes between the nation’s army and separatist rebels intensified, the 41-year-old lecturer packed his bags and fled to the commercial capital, Douala, about 60 kilometers (37 miles) to the east. “You never…

Emerging-Market Stocks Rally on China as Turkish Assets Tumble

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LAGOS (Capital Markets in Africa) – Emerging-market equities climbed to a one-month high as China’s efforts to support its economy spurred a rally in risk assets. MSCI’s gauge of stocks headed toward its best month since January, while seventeen of 24 developing-nation currencies advanced. South Africa’s rand gained after President Cyril Ramaphosa said he secured about $15 billion in Chinese investments, and Chile’s peso rose with copper. The Turkish lira sank to a record low as the central…

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