The Editorial Team |

Rising Political Violence Stalks African `Island of Peace’

DAR ES SALAM (Capital Markets in Africa) – An opposition politician and a campaigner were hacked to death with machetes. A lawmaker’s car was riddled with bullets and he was left fighting for his life. These shadowy attacks weren’t in one of East Africa’s war zones, but in Tanzania — a country that hasn’t seen serious upheaval in decades and whose populist president, John Magufuli, is on a mission to revitalize the region’s second-biggest economy. With the unidentified perpetrators still at…

South Africa Inflation Dips Deeper Below Midpoint of Target Band

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JOHANNESBURG (Capital Markets in Africa) – South Africa’s inflation rate fell further below the midpoint of the target range in February, giving the central bank another reason to consider easing monetary policy next week. Inflation slowed to 4 percent, the lowest level in almost three years, from 4.4 percent in January, Pretoria-based Statistics South Africa said Tuesday in a report on its website. The median estimate of 21 economists in a Bloomberg survey was 4.1 percent. Prices rose…

Fund Manager Fighting to Keep $16 Million in Libyan Bonuses

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LAGOS (Capital Markets in Africa) – Nine years and one revolution after agreeing to manage more than $620 million of Libyan funds, a London banker is in court fighting the firm he founded, and defending fees he used for a lifestyle that included a 165,000-pound ($232,000) stay at a five-star hotel in the British capital. Frederic Marino is accused by FM Capital Partners of taking more than $16 million in secret commissions between 2009 and 2014, seeking and…

Gordhan Plans Sweeping Changes for South African State Firms (1)

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JOHANNESBURG (Capital Markets in Africa) – Extensive changes are in the offing at South Africa’s troubled state-owned companies as new Public Enterprises Minister Pravin Gordhan moves to tackle their many management and financial failings. Power utility Eskom Holdings SOC Ltd. and several other state entities have been caught up in graft and management scandals over recent years and repeatedly called on the state to bail them out as their debt ballooned to unsustainable levels. Former union boss and…

Ghana Is Said to Name Citi, Three Others to Market Eurobond

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ACCRA (Capital Markets in Africa) – Ghana appointed Citigroup Inc., JP Morgan Chase & Co, Bank of America Corp. and Standard Chartered Plc as head arrangers to market an upcoming sale of Eurobonds, according to two people familiar with the matter. The West African nation also named Accra-based Fidelity Bank Ltd. and IC Securities as co-arrangers, said the people, who asked not to be identified because they’re not authorized to speak publicly about the matter. Ghana…

Kenya Opposition Urges Probe of Cambridge Analytica Role in Vote

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NAIROBI (Capital Markets in Africa) – Kenya’s biggest opposition party called for an independent probe of Cambridge Analytica’s role in last year’s protracted presidential elections that were marred by violence. “We would be interested in the truth about the role of Cambridge Analytica in spreading divisive propaganda in our election cycle,” Orange Democratic Movement Secretary-General Edwin Sifuna said Tuesday by phone from Nairobi, the capital. “We support an inquiry into their involvement.” Channel 4, a…

Buhari’s Trump Card for Nigeria’s 2019 Vote: Weak Opposition

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LAGOS (Capital Markets in Africa) – Samuel Okunola shares the frustration of many Nigerians with the man he voted for three years ago, President Muhammadu Buhari. The 52-year-old tailor no longer feels he can support him in elections next year, but he doesn’t see an alternative. “I can’t vote for Buhari in 2019,” Okunola said in an interview at his shop in the upscale Victoria Island district in Lagos, Nigeria’s biggest city. “I’m looking for someone…

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