The Editorial Team |

Zimbabwean Opposition Party Says Mnangagwa Rule Is Illegitimate

HARARE (Capital Markets in Africa) – Zimbabwe’s opposition National People’s Party said the country’s new president, Emmerson Mnangagwa, lacks legitimacy and is overseeing military rule ahead of elections he says will take place before July. Mnangagwa should return Zimbabwe to legitimate civilian rule and introduce electoral reforms, Joice Mujuru, head of the NPP, said in an emailed statement late Thursday. He must also undo “oppressive” legislation that undermines press freedom and enables the persecution and arrest of…

EIB Plans to Double Kenyan Loans This Year for Infrastructure

Posted on by The Editorial Team

NAIROBI (Capital Markets in Africa) – The European Investment Bank may double its loans to Kenya this year to fund power plants, roads, and other infrastructure projects, the lender’s regional representative said. Financing has been agreed in principle for deals worth about 375 million euros ($465 million), Catherine Collin, EIB regional representative for East Africa, said in an interview Wednesday in the capital, Nairobi. Last year, the lender signed commitments totaling 182 million euros, she said. “Kenya…

West Africa’s Stock Exchange Expects Regional Bank IPO in 2018

Posted on by The Editorial Team

ABIDJAN (Capital Markets in Africa) – The IPO will be one of two initial public offerings expected this year on West Africa’s Bourse Regionale des Valeurs Mobilieres, known as BRVM, Edoh Kossi Amenounve says in an interview. Other IPO “should be Societe des Telecommunications du Mali” Average profitability growth of BRVM’s stocks seen rising to 6.5%-7% in 2018 after 5% in 2017 2017 profitability dropped after declining in capital gains BRVM to launch the online…

Ramaphosa Says South Africa Has no Cash for Nuclear Plants

Posted on by The Editorial Team

JOHANNESBURG (Capital Markets in Africa)- South African Deputy President Cyril Ramaphosa, who is next in line to lead the country, said the government currently can’t afford to build new nuclear power reactors. “We have to look at where the economy is — we have excess power and we have no money to go for a major nuclear plant building,” Ramaphosa told reporters Thursday at the World Economic Forum in Davos, Switzerland. “We have said the nuclear…

Nigeria Can’t Rely on Rising Oil Prices, Minister Says

Posted on by The Editorial Team

LAGOS (Capital Markets in Africa) – Africa’s top oil producer is learning to ignore crude prices, Nigeria’s Finance Minister Kemi Adeosun said. “We’ve gotten to a point where we don’t care,” whether prices will be sustained at the level that they have recently risen to, Adeosun said during an interview in her office in the capital, Abuja. “We’ve been able to balance our budget at $45-$46 per barrel and we’ve got to learn to live comfortably at…

Nigeria Plans $2.5 Billion Eurobond Sale in First Quarter

Posted on by The Editorial Team

LAGOS (Capital Markets in Africa) – Nigeria may sell $2.5 billion of Eurobonds in the first quarter to refinance domestic debt and wants to start talks with JPMorgan Chase & Co. about being reinstated in its local-currency emerging-market bond index, according to a government official. The issuance would complete a dollar-debt program that started with selling $3 billion of Eurobonds in November, said Debt Management Office Director-General Patience Oniha. The yield on dollar bonds due November 2027 have…

Kenyan Opposition Says It Has Evidence Odinga Won Election

Posted on by The Editorial Team

NAIROBI (Capital Markets in Africa) – Kenya’s opposition National Super Alliance said it has evidence that former Prime Minister Raila Odinga won the nation’s Aug. 8 presidential election. The alliance has a document containing “authentic, unpolluted, unadulterated” data that shows Odinga and his running mate, Kalonzo Musyoka, were the legitimate winners of the vote, Nasa Senator James Orengo told reporters Friday in the capital, Nairobi. Odinga garnered 8.1 million ballots in the vote, compared with 7.9 million for incumbent President Uhuru…

« 1 … 551 552 553 554 555 … 1,077 »