The Editorial Team |

Netanyahu Backtracks on African Migrant Plan, Then Shifts Again

LAGOS (Capital Markets in Africa) – Prime Minister Benjamin Netanyahu backtracked on a just-announced agreement with the United Nations to let about 20,000 African migrants remain in Israel, following an outcry from coalition partners and his political base. On Monday afternoon, Netanyahu called a news conference to disclose Israel had cancelled an earlier plan to deport all 38,000 migrants to Africa, following mass demonstrations against the policy at home and criticism from abroad. Instead, he said, he…

Hershey to Spend $500 Million Making More Sustainable Kisses

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ACCRA (Capital Markets in Africa)- Hershey Co. is spending $500 million in the hopes of producing its iconic chocolate Kisses from more sustainable cocoa. Through its so-called Cocoa for Good program, the company will invest the funds through 2030 to support four key areas: nourishing children, empowering youth, building prosperous communities and preserving natural ecosystems. The initiative’s goals include eliminating child labour and increasing shade-grown cocoa, which can be productive for as much as 15 years…

New-Look Nigeria MPC Holds Rate at Record at First 2018 Meeting

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LAGOS (Capital Markets in Africa) – Nigeria’s newly constituted Monetary Policy Committee held the nation’s main lending rate at its first meeting this year to continue fighting inflation that’s above target. The committee that admitted five members last month unanimously decided to leave the benchmark interest rate at 14 percent, central bank Governor Godwin Emefiele announced at a press conference in the capital, Abuja on Wednesday. That was in line with predictions of all but…

Post-Mugabe Zimbabwe Mining Rush Leaves Big Producers Behind

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HARARE (Capital Markets in Africa) – While Zimbabwe’s leadership change has sparked a race for the nation’s mineral riches among entrepreneurs and tiny explorers, big-name mining companies are taking a wait-and-see approach. New President Emmerson Mnangagwa has a lot to prove as he seeks to revive the economy and attract mining investment that shrivelled under his predecessor, Robert Mugabe. So far, Mnangagwa has pledged investor-friendly policy changes and partially rolled back a law requiring mining companies to be…

Winnie Madikizela-Mandela, Apartheid Activist, Dies Age 81

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JOHANNESBURG (Capital Markets in Africa) – Winnie Madikizela-Mandela, whose reputation as a hero of the fight to end white-minority rule in South Africa was tainted by kidnapping and fraud convictions, has died. She was 81. The former wife of Nelson Mandela died in Johannesburg on Monday after a long illness, a family spokesman said in a statement. Her marriage to Mandela in 1958 thrust her onto center stage of South African politics, and she emerged as a…

Credibility of Zimbabwe’s First Post-Mugabe Vote Is at Stake

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HARARE (Capital Markets in Africa) – As Zimbabwe prepares to hold its first election since Robert Mugabe was toppled after almost four decades in power, a key question is whether the government can accomplish something he failed to do: oversee a free vote. Whether the election due before Sept. 1 is regarded as fair may determine the success of efforts by President Emmerson Mnangagwa, who replaced Mugabe as president in November, to attract investment to revive an economy…

Kenya Plans Water Bonds to Plug Funds Gap Leaving Nation Dry

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HARARE (Capital Markets in Africa) – Kenya is turning to the bond market to finance water and sewage projects as it seeks to plug a funding gap that’s left nearly half the population without access to a tap. Utilities are pooling together loans and packaging them as debt for investors as they seek to fix poorly maintained and aging networks that lose about 43 percent of the water pumped in East Africa’s largest economy, according…

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