The Editorial Team |

South Africa Central Bank Sees Limited Room for Further Easing

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…

Italy Wants EU to Set Up Migrant Centres South of Libyan Border

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LAGOS (Capital Markets in Africa) – Italy will urge European Union leaders to push for setting up centres to process would-be migrants south of Libya’s border, Interior Minister Matteo Salvini said during a visit to the north African country. “Italy and Libya cannot be the only countries bearing the costs of migration,” Salvini told reporters, adding that Italy would propose the creation of “identification centers” at the EU summit in Brussels due on Thursday and Friday….

Mauritian Exchange Sees $6.5 Billion Gold Trading in Five Years

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MAURITANIA (Capital Markets in Africa) – A Mauritian commodity exchange that plans to start operating in the fourth quarter expects to trade $6.5 billion of gold annually within five years, part of the Indian Ocean island nation’s plan to become a financial gateway to Africa, its chairman said. The introduction of the Mauritius International Derivatives and Commodities Exchange brings to fruition Prime Minister Pravind Jugnauth’s pledge last year to introduce gold trading to the country. Mauritius’s…

Moody’s Sees East African Economies Expanding Fastest Globally

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NAIROBI (Capital Markets in Africa) – East African economies will be among the fastest growing globally over the next two years with rates of 5.5 percent to 7 percent, driven by public spending on infrastructure, according to Moody’s Investors Service. Rwanda and Tanzania are expected to grow at 6.5 percent to 7.5 percent annually, while Uganda and Kenya could see rates of 5 percent – 6 percent. The services sector, which makes up the largest share of…

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