The Editorial Team |

Bitcoin May Evolve Into What Everyone Fears, Mathematicians Say

LAGOS (Capital Markets in Africa) – Prices of cryptocurrencies such as Bitcoin may never stabilize, and digital tokens risk simply ending up being the equivalent of Ponzi schemes. Using mathematical modelling and experimental economics, two University of Pittsburgh researchers tried to determine Bitcoin’s value, and concluded that it’s “an asset which has no value by traditional measures” and may be in a bubble. Its price is largely driven by the opinion of fringe buyers, often holding erroneous…

Bitcoin Above $8,000 After Regulators Spare Toughest Reprisals

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LAGOS (Capital Markets in Africa) – Bitcoin is marching toward its second day of gains as traders showed relief over comments Tuesday by U.S. securities regulators, who called for greater oversight of cryptocurrencies without proposing industry-killing measures. The largest digital token headed to its first back-to-back increase in almost two weeks, rising 4.4 percent to $8,107 by 10:49 a.m. in New York, after earlier rising above $8,600 for the first time this week, according to prices compiled by Bloomberg….

Zuma Exit Appears Step Closer as ANC Holds Transition Talks

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JOHANNESBURG (Capital Markets in Africa) – South African President Jacob Zuma appeared a step closer to resigning as he held crunch negotiations on the terms of his exit with the new leader of the ruling African National Congress, Cyril Ramaphosa. The talks prompted the ANC’s National Executive Committee, its top decision-making body, to postpone a special meeting called for Wednesday to decide whether to force Zuma from office. Ramaphosa said the talks about the transition of power would…

Zimbabwe Opposition Leader’s Cancer Is Said to Worsen

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HARARE (Capital Markets in Africa) – The health of Zimbabwe’s main opposition leader, Morgan Tsvangirai, has worsened with his cancer having appeared to have spread and his immediate family have been called to a hospital in South Africa, a senior party official said. Tsvangirai, 65, a former labor union leader, opposed former Zimbabwean President Robert Mugabe in every election since 2000 and won a first round presidential vote in 2008 before backing out of the second round, citing…

Tanzanian Police Arrest Opposition Leader as Detentions Mount

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DAR ES SALAAM (Capital Markets in Africa) – Tanzanian police arrested opposition leader Zitto Kabwe, the latest among dozens of politicians detained in the East African nation this year. The authorities detained Kabwe when he arrived at the airport in the largest city, Dar es Salaam, on Wednesday, then transferred him the capital, Dodoma, according to a statement on his Twitter account. Kabwe’s Alliance for Change & Transparency is making inquiries about why he was arrested,…

Anglo Takes Down South Africa Sale Sign and May Even Buy

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JOHANNESBURG (Capital Markets in Africa) – Anglo American Plc raised the possibility that it could start buying assets in South Africa, the latest sign of how much has changed in two years, when the miner was focused on selling. “We no longer have any for sale sign,” Norman Mbazima, deputy chairman of Anglo American’s South African unit, said in an interview Monday. “It is possible to invest in South Africa. We have got hope right now.”…

Kenya Charges Opposition Figure Amid Protests Over Arrests

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NAIROBI (Capital Markets in Nigeria) – Kenyan authorities charged an opposition figure over his attendance at a mock inauguration ceremony, as protests erupted over the arrest of anti-government leaders. Police charged Miguna Miguna with being present at the administering of an oath of office to National Super Alliance leader Raila Odinga on January 30 “purporting to bind” Odinga to a treasonous offense, according to a charge sheet published on the Twitter account of Ukweli Party leader Boniface…

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