The Editorial Team |

As Boycott Curdles Sales, Danone Goes to Moroccans for Solution

CASABLANCA (Capital Markets in Africa) – French food giant Danone is asking Moroccan cattle farmers and consumers to decide for themselves how much to charge for the fresh milk its Moroccan unit produces, in an effort to defuse a boycott that’s sent dairy prices and sales plunging. Chief Executive Officer Emmanuel Faber made the announcement during a quick visit to Morocco, where he said he talked with cattle farmers, bloggers and homemakers, and “listened to the legitimate…

After Floods, Famine, Malawi’s Leader Is Bullish on Growth

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LILONGWE (Capital Markets in Africa) – Malawian President Peter Mutharika had to deal with devastating floods, a famine and a foreign-aid freeze during his first term. Now, he’s seeking re-election to tackle the challenges of attracting billions of dollars in investment and reducing the economy’s reliance on tobacco. Mutharika, 78, is expected to be the sole contender for the leadership of the ruling Democratic Progressive Party when it meets next week. With the opposition fragmented and a…

ARM Cement of Kenya Begins Restructuring Balance Sheet

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NAIROBI (Capital Markets in Africa) – ARM Cement Ltd., a Kenyan manufacturer of the building material, said Wednesday it began restructuring its balance sheet and needs to cut its debt further after its cash flow was “crippled” by the poor performance of its unit in Tanga, Tanzania. “The Tanga plant has not performed as expected since 2015 due to issue beyond our control,” the Nairobi-based company said in a statement in the Standard newspaper. “For…

What Are Sin Stocks and Why Should We Care?

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LAGOS (Capital Market in Africa) – Some online gambling companies, like Bet365 and Betway, the parent company of Betway Ghana, are privately owned, meaning that they never listed their stock on any stock exchange. Other major operators like William Hill, Paddy Power Betfair, and the Kindred Group (the owner of Unibet) as well as development and infrastructure providers like NetEnt, are public, with shares traded on stock exchanged ranging from London to Stockholm, and beyond….

Rwandan and Seychelles Central Bank Keeps Key Interest Rate Unchanged

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SEYCHELLES (Capital Markets in Africa) – Rwanda’s central bank kept its benchmark lending rate at a record-low 5.5 percent as it sees inflation and exchange-rate pressures remaining subdued. The key rate was held at 5.5 percent, Governor John Rwangombwa told reporters in the capital, Kigali, on Tuesday. While inflation could accelerate to about 4.5 percent by the end of this year, from 3 percent in May, price pressures are low, he said. The Rwandan franc weakened 1.5…

Trump Travel Ban Upheld by High Court in Win on Signature Issue

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LAGOS (Capital Markets in Africa) – A divided U.S. Supreme Court upheld President Donald Trump’s travel ban, rejecting contentions that he targeted Muslims and giving him a legal and political victory on a controversy that helped define his presidency. The 5-4 ruling Tuesday ends a legal saga that dates to the beginning of the Trump presidency and helped establish his assertive, divisive leadership style. The decision bolsters the president’s already broad control over the nation’s borders. Trump hailed…

Days into His New Job, Egypt Finance Chief Eyes Sukuk for Funds

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CAIRO (Capital Markets in Africa) – Egypt is considering tapping the international sukuk market in the coming fiscal year, as it looks to diversify funding sources to drive forward its economic revival efforts. The Sharia-compliant issuance, either in dollar or euro-denominated sukuk, which Finance Minister Mohamed Maait hopes will happen in fiscal 2018-19, would mark a revival of a plan shelved since 2013 when the government under then-Islamist President Mohamed Mursi issued the law to pave the way for…

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