The Editorial Team |

Sweden’s Very Own Bitcoin. What Could Possibly Go Wrong?

LAGOS (Capital Markets in Africa) – The finance industry’s attitude to automation and technical innovation resembles the old song lyric: “Everybody wants to go to heaven, but nobody wants to die.” Bank executives love to warn of robots replacing humans across the industry, but basic IT management often seems beyond them. The blockchain and digital currencies are the future, they tell us, but no-one seems quite sure what to do with them or whether they really want them….

Bitcoin’s Real Value Is $20, According to a Night of Drinking

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LAGOS (Capital Markets in Africa) – It took two economists one three-course meal and two bottles of wine to calculate the fair value of one Bitcoin: $200. It took an extra day for them to realize they were one decimal place out: $20, they decided, was the right price for a virtual currency that was worth $1,200 a year ago, flirted with $20,000 in December, and is still around $8,000. Setting …

Liberian President Weah Orders Probe of Exxon 2013 Oil Deal

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MORONVIA (Capital Markets in Africa ) – Liberian President George Weah ordered a probe into Exxon Mobil Corp.’s 2013 deal for drilling rights off the West African nation’s coast, his office said. The investigation follows last month’s report by campaign group Global Witness that Exxon purchased the rights despite knowing that the block was suspected of being partially owned by Liberian individuals who may have illegally granted it to themselves while holding public office. Exxon voiced concerns over the…

South African Inflation at 7-Year Low Boosts Rate-Cut Case

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JOHANNESBURG (Capital Markets in Africa )- South Africa’s inflation rate fell to seven-year low in March, making a stronger case for the central bank to consider an interest-rate cut. Inflation slowed to 3.8 percent from a year earlier, Pretoria-based Statistics South Africa said Wednesday in a report on its website. The median estimate of 20 economists was 4.1 percent in a Bloomberg survey. Price growth has remained within the central bank’s target range of 3…

INTO AFRICA April 2018 Edition: Key to Growth – Africa’s Tax System

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Welcome to the April edition of INTO AFRICA the publication with fresh insight into Africa’s emerging markets. This month’s edition, titled: Key to growth: Africa’s Tax System explores the tax laws and regulations across African countries. In the global environment of scarce economic activity and resources, investors are increasingly looking to new sources of growth. Africa is one of these areas. However, navigating differing business customs across a continent as vast and diverse as Africa…

Morocco: Growth projected at 4.5% over the medium term

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RABAT (Capital Markets in Africa) – The International Monetary Fund projected Morocco’s real GDP growth to decelerate from 4.4% in 2017 to 3.1% in 2018, as agricultural production returns to its normal level following high output last year. But it expected growth to accelerate gradually to about 4.5% in the medium term and to remain favourable in case of improved external conditions and sustained reform implementation. Further, it forecast the inflation rate to average 1.3%…

Angola: Increase in capital levels insufficient to address banks’ weaknesses

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LUANDA (Capital Markets in Africa) – Fitch Ratings expected Angola’s banking sector to remain weak and fragmented in coming years, despite the Banco Nacional de Angola’s (BNA) recent efforts to increase the banks’ capital requirements. It said that eight out of the 29 banks operating in Angola will have to increase their paid-in capital this year in order to comply with the BNA’s latest capital requirements. It noted that Angolan banks will be required to…

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