The Editorial Team |

Zimbabwe Stocks Rise Before Vote in Sign of Investor Unease

HARARE (Capital Markets in Africa) – Zimbabwean stocks are rising before Monday’s election. But in the topsy-turvy world of the country’s equities market, that’s not necessarily a sign of investor confidence. The Harare exchange’s benchmark index has climbed 10 percent since the election date was set on May 30. The gains suggest Zimbabweans are continuing to use equities as a refuge to preserve their wealth, concerned that there is a risk of inflation as the…

Tie-Up Plan for Three Ghanaian Lenders Is Said to Break Down

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ACCRA (Capital Markets in Africa) – Three Ghanaian banks are close to abandoning talks for a merger as the two smaller parties contend that their operational models are incompatible with the bigger counterpart, according to two people familiar with the matter. Premium Bank Ltd. and BSIC Ghana Ltd. are no longer keen for a tie-up with GN Bank Ltd. and will pursue talks with other parties, said the people, who asked not to be identified because they’re…

China, BRICS Push to Shift World Order Amid Trump Trade Threats

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JOHANNESBURG (Capital Markets in Africa) – Brazil, Russia, India, China and South Africa, representing about 40 percent of the world’s population and almost a quarter of its output, think it’s time for a change in how things are done. After a three-day summit in Johannesburg, the BRICS nations said they want a fairer, more representative global order in diplomacy and trade just as China, the biggest member, faces billions of dollars of extra U.S. tariffs. They…

As Islamist Insurgency Deepens, Mali President Seeks New Term

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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…

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