The Editorial Team |

Angola Is in Talks With Majors to Boost Oil Output by 2020

LUANDA (Capital Markets in Africa) – Angola is targeting an increase of about 250,000 barrels a day in oil output by 2020 and is already in discussions with oil majors Exxon Mobil Corp. and Equinor ASA to achieve this, said Sonangol’s Chairman of the Board Carlos Saturnino. New energy legislation and more favourable investment terms have already spurred interest from international operators, including Chevron Corp. and Total SA, he said in an interview in Vienna….

Libyan Forces Hand Oil Ports to East-Based Energy Company

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TRIPOLI (Capital Markets in Africa) – Forces of Libyan Commander Khalifa Haftar handed control of oil ports in the east of the divided nation to a state unit rivaling the internationally recognized National Oil Corp. based in the capital Tripoli, in a surprise move that could create uncertainty among buyers. “All oil facilities, all oil ports — not just the ones in the oil crescent but even Hariga port — all oil sectors, oil pipelines, all facilities…

Bond Flight From South Africa Spurs `Amplification’ Warning

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JOHANNESBURG (Capital Markets in Africa) – Foreign investors’ holdings of South African bonds have dropped to the lowest level in more than a year following a record sell-off since the beginning of May, and a senior Treasury official says there could be worse to come. Non-residents held 38.9 percent of government debt as of June 22, down from as high as 42.8 percent in March, according to Bloomberg’s calculations based on National Treasury data through…

South Africa Central Bank Sees Limited Room for Further Easing

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JOHANNESBURG (Capital Markets in Africa) – South Africa has little room for further interest-rate cuts unless the inflation outlook improves, the central bank said. Monetary policy is still marginally accommodative and “the room for additional rate cuts remains limited in the absence of a more durable improvement” in the price-growth outlook, the central bank said in its annual report published on its website on Monday. The Monetary Policy Committee kept its key rate unchanged at 6.5 percent last…

Mnangagwa Urges Zimbabwe Election Clam After Rally Explosion

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HARARE (Capital Markets in Africa) Zimbabwean President Emmerson Mnangagwa’s suggestion that opponents in the ruling party and not the opposition were responsible for an explosion at a campaign rally has probably strengthened his bid to win next month’s general elections, analysts said. The first such attack in Zimbabwe’s history, at a political event at the White City stadium in the second-largest city of Bulawayo, immediately drew promises from Mnangagwa, 75, that the July 30 vote will…

South Africa’s Plans for Digital TV Switch May Help Vodacom, MTN

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JOHANNESBURG (Capital Markets in Africa) – South Africa’s pledge to switch to digital TV by the end of next year may free up spectrum for wireless operators such as Vodacom Group Ltd. And MTN Group Ltd., while also allowing smaller companies to enter the telecommunications market. Vodacom and MTN, South Africa’s top two mobile-phone companies, have long bemoaned the lack of available spectrum for broadband as they struggle to grow their businesses in Africa’s most industrialized economy….

Mozambique President Wants Gas-Area Attackers `Neutralized’

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MAPUTO (Capital Markets in Africa) – Mozambican President Filipe Nyusi condemned a spate of attacks on villages in the gas-rich north of the country and called for the perpetrators to be “neutralized.” The attacks have raised risks for investors developing more than $30 billion of gas projects off the coastal Cabo Delgado province. Researchers said the raids have been carried out by a group known as Ahlu Sunnah Wa-Jama, composed of local people as well as citizens…

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