The Editorial Team |

Oil Deal May Win Back Sudan Some Influence Over Former Enemy

KHARTOUM (Capital Markets in Africa) – Sudan lost three-quarters of its oil reserves when the south seceded in 2011. A four-year civil war in Africa’s youngest nation may be letting it reassert control. Electricity, building materials, safe lodgings for workers — South Sudan’s former ruler is offering them all to help restore output in a key northern region. That shows how vital sub-Saharan Africa’s third-largest oil reserves remain to Sudan, whose landlocked neighbour pays it $25…

Wrong ANC Leaders Will See It Lose Power, Gauteng’s Makhura Says

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JOHANNESBURG (Capital Markets in Africa) – The premier of South Africa’s richest province warned the ruling African National Congress will lose its majority and extend an economic slump if it elects the wrong leaders this weekend. “If it doesn’t give South Africa the leadership that will win public confidence, not only is the ANC going to lose 2019 elections, but the country will be in a much longer protracted economic disaster, with deep pain for…

Glencore Will Double Dividend, Restart Zinc as Metals Rally

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LONDON (Capital Markets in Africa) – Glencore Plc promised to double its dividend, restart some zinc production and boost spending as the world’s largest commodity trader reaps rewards from soaring metals prices. The slate of news from Glencore’s investor presentation on Tuesday shows the mining company is firing on all cylinders, with profitable zinc, cobalt and copper mines around the world. The growth has been aided by a powerful trading business that’s on track for its second-best…

The Hot Spots That Defined a Year of Emerging-Market Ebullience

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LAGOS (Capital Markets in Africa) – 2017 is set to go down as the year when easy monetary policy and budding global growth came together to deliver blockbuster returns for the world’s emerging markets. Currencies and stocks in developing economies are on track for their biggest rallies in eight years as even the riskiest markets shrug off crises and threats to deliver gains for investors. Bonds, too, have had a good run, with local-currency emerging-market debt returning the most since…

Bitcoin Is the Most Perfect Bubble Possible

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LONDON (Capital Markets in Africa) – What else would you call something that, as of Tuesday morning, has gone up 47 percent the past week, 181 percent the past month, and 2,119 percent the past year? Not to mention the most remarkable part of this all: It has happened for no discernible reason. People haven’t started to actually, you know, use bitcoins much more than they did a year ago, but that hasn’t stopped its…

Moody’s: Challenging operating conditions keeps 2018 outlook for African banks negative

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LAGOS (Capital Markets in Africa) — Moody’s Investors Service says its negative outlook for the African banking system in 2018 reflects high macroeconomic risks that expose banks to asset quality pressures, reduced government support and sovereign credit risk. Moody’s report, “Banks — Africa, 2018 Outlook”, is available on www.moodys.com. Moody’s subscribers can access this report via the link provided at the end of this press release. This report does not constitute a rating action. “Although…

Bitcoin Shorts Are Hard to Find, Keeping Futures Above Spot

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LONDON (Capital Markets in Africa) – For traders used to seeing arbitrage plays vanish within seconds, bitcoin futures’ rise back to more than $1,300 above the spot price a full day after their debut is another testament to the cryptocurrency’s unconventional evolution. Professional investors and analysts predict the premium will collapse over time. Yet its persistence and volatility — from as low as 1.8 percent to as high as 13 percent — indicate how a market that’s captured Wall Street’s…

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