The Editorial Team |

Gorilla Refuge, Rainforest May Be Opened in Congo Oil Search

KINSHASA (Capital Markets in Africa) – The Democratic Republic of Congo is considering whether to open up swathes of two world-famous national parks to oil exploration. A decision to allow a search for crude may threaten Virunga National Park, home to many of the about 1,000 mountain gorillas still alive, and Salonga National Park, the world’s second-biggest tropical rainforest reserve. A committee is being established to debate the proposal as Congo plans to increase crude…

As Boycott Curdles Sales, Danone Goes to Moroccans for Solution

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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…

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