The Editorial Team |

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

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…

Take a Wild-Ass Guess’: Crypto Confusion as Tax Deadline Nears

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LAGOS (Capital Markets in Africa) – If you thought trading Bitcoin was wild, try figuring out how to pay taxes on it. Cryptocurrency investors are wrestling with spotty records, tangled blockchain addresses and rudimentary guidelines issued back in the ancient days of 2014. After last year’s boom in values, many people are likely disclosing transactions for the first time, adding to confusion. Digital-coin enthusiasts and tax professionals are “freaking out” before next week’s filing deadline,…

Mozambique Cuts Interest Rate as Inflation Slows to 2015 Low

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MAPUTO (Capital Markets in Africa) – Mozambique’s central bank reduced its benchmark lending rate for the fifth consecutive time as inflation slowed, allowing the regulator to try to spur an economy that’s forecast to expand at the slowest pace in 18 years. The Monetary Policy Committee cut the benchmark interbank rate, known by its Portuguese acronym MIMO and introduced in April, by 150 basis points to 16.5 percent, Banco de Mocambique Governor Rogerio Zandamela told reporters Wednesday…

Google Releases New Africa App to Beat Slow Internet Speeds

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LAGOS (Capital Markets in Africa) – Google is releasing an app in Africa that will help internet users overcome obstacles such as the lack of high-speed connectivity and the cost of data on the continent. The release of Google Go is the U.S. technology giant’s latest attempt to extend its reach into emerging markets such as sub-Saharan Africa, where Facebook Inc. is also making inroads. The Alphabet Inc. unit has laid fiber-optic cable on the continent, eased…

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