The Editorial Team

Sudan’s Military Reinstated the Civilian Prime Minister. But Post-coup Turmoil Could Deepen.

NAIROBI (Capital Markets in Africa) – Sudan’s military and civilian leaders reached a deal Sunday to reinstate Prime Minister Abdalla Hamdok, who was ousted in a coup last month that reignited mass protests and political uncertainty more than two years after a popular uprising forced out longtime autocrat Omar Hassan al-Bashir. Hamdok, who had spent the past month under house arrest, praised the agreement as a way to restore Sudan’s fragile democratic transition, but the…

Nigeria’s Biggest Miller to Buy Majority of $194 Million Rival

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LAGOS (Capital Markets in Africa) – Nigeria’s biggest flour miller has cemented its dominant position in Africa’s largest economy with the purchase of a majority stake in Honeywell Flour Mills Plc. Flour Mills of Nigeria Plc will acquire a 77% stake in the nation’s third largest miller, according to a statement on the Nigerian Stock Exchange website. The whole company is valued at 80 billion naira ($194 million). The final price payable will be based on adjusted…

FX Traders Seek Emerging-Market Gems Amid the Wreckage of 2021

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LAGOS (Capital Markets in Africa) – Emerging-market currency traders will have to pick their fights carefully for the coming year after a surprisingly strong dollar and rising U.S. Treasury yields steamrolled almost everything in the developing world in 2021. With investors ramping up expectations for the Federal Reserve and other developed-market central banks to tighten policy, the likes of the Brazilian real and Hungarian forint have been weighed down by inflation and political concerns even as local…

South Africa Virus Cases Begin to Climb as Fourth Wave Predicted

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JOHANNEBURGH (Capital Markets in Africa) – South African coronavirus cases are beginning to climb, the positivity rate of tests is increasing and an analysis of wastewater shows that the disease is once again becoming more prevalent in some areas. On Nov. 20, the number of confirmed cases over a 24-hour period rose to 887, the highest since Oct. 14, and on Nov. 21, 3.4% of tests returned a positive result, according to government data. If maintained…

Prosus Says Analysts Value Non-Tencent Assets at $50 Billion

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JOHANNESBURG (Capital Markets in Africa) – Prosus NV said analysts have valued its global portfolio of e-commerce assets at about $50 billion, excluding the stake in Hong Kong’s Tencent Holdings Ltd. — well above the market rate. The investment firm, which has spent heavily on internet payments, food delivery, education and more around the world, is looking to boost that figure to $100 billion over the next three years, Chief Executive Officer Bob van Dijktold reporters…

How China’s Deal With the U.S. Helped Avert COP26’s Collapse

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LONDON (Capital Markets in AfricaIt was Day 13 of the COP26 summit, and even the trees inside the Glasgow venue were beginning to wilt. With the meeting running almost 24 hours over its scheduled time and the final outcome hanging in the balance, U.S. climate envoy John Kerry and his Chinese counterpart, Xie Zhenhua, huddled together deep in conversation. At one point Kerry grasped Xie’s shoulder, while China’s lead negotiator nodded and smiled as he enumerated points on…

U.K.’s Johnson Calls COP26 Climate Agreement ‘Game Changing

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LONDON (Capital Markets in Africa) – The agreement reached Saturday at global climate talks in Glasgow will be pivotal in the fight to stop global warming, U.K. Prime Minister Boris Johnson said. The conference hosted by the U.K. produced a “game-changing agreement that the world needed to see,” Johnson said at a press conference in London on Sunday. Negotiators from almost 200 countries clinched a deal that broke new ground in the fight against climate…

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