The Editorial Team

What Could Possibly Go Wrong? Biggest Economic Risks for 2022

LAGOS (Capital Markets in Africa) – Economists have struggled to see ahead in the pandemic. They’re upbeat about next year, but could easily get blindsided again. The Covid years are littered with predictions that didn’t work out. For anyone looking ahead into 2022, that should be enough to give pause.Most forecasters, including Bloomberg Economics, have as their base case a robust recovery with cooling prices and a shift away from emergency monetary-policy settings. What could…

South African President Ramaphosa Has Covid With Mild Symptoms

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JOHANNESBURG (Capital Markets in Africa) – South African President Cyril Ramaphosa tested positive for Covid-19 and is receiving treatment for mild symptoms. “The president, who is fully vaccinated, is in self-isolation in Cape Town and has delegated all responsibilities to Deputy President David Mabuza for the next week,” the presidency said in a statement on Sunday. “The president is in good spirits but is being monitored by the South African Military Health Service of the South African…

International Pressure Piles on Mali to Stick to Vote Deadline

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BAMAKO (Capital Markets in Africa) – The Economic Community of West African States threatened over the weekend to impose new sanctions on Mali to compel the country’s military leaders to set a timetable for Feb. 27 elections that would restore democratic rule. Ecowas, as the regional economic bloc is known, is considering “economic and financial sanctions” from Jan. 1, according to a statement issued after a summit in Nigeria’s capital, Abuja, on Sunday. The bloc…

Covid Cases Surge in Nigeria After Discovery of Omicron Variant

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LAGOS (Capital Markets in Africa) – Nigeria’s daily Covid infections have jumped more than fivefold over the past week following the discovery of the omicron variant in the country of 200 million people. The average number of Nigerians who tested positive for the pathogen has risen to 451 a day for the week ending Dec. 12, compared with 76 in the preceding week, according to data from the National Center for Disease Control.The commercial hub…

West Can’t Ignore China’s Evolving Africa Plan: Clara F. Marques

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LAGOS (Capital Markets in Africa) – The West’s excessive focus on African debt has blinded it to China’s widening engagement in a region of 1.4 billion consumers. Myths tend to linger longer than fact, and few have been more resilient in the face of evidence and data than the idea of a Chinese debt trap ensnaring African economies. Last week alone, Britain’s spy chief warned of Beijing trying to “get people on the hook,” while…

Digital Payments Push Fails to Deter Demand for Cash in Nigeria

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LAGOS (Capital Martket in Africa) -Cash in circulation in Nigeria rose to a record in October despite a push by authorities to engender cashless transactions and control money supply in Africa’s most populous nation. The amount of naira notes and coins circulating in the economy increased 4.6% to 3 trillion naira ($7.3 billion) in October from the previous month, according to the Central Bank of Nigeria data. Broad money supply, or M2, surged to a record 41.4…

Omicron Gives New Impetus to Lagging South African Vaccine Drive

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JOHANNESBURG (Capital Martkets in Africa) – South Africa is ramping up its vaccination drive as the omicron variant threatens to derail a stuttering recovery from the coronavirus crisis, while companies are taking a harder line against those who don’t get shots. The daily number of Covid-19 infections in the country has jumped five-fold over of the past week following the onset of the new strain, with the rolling seven-day average of cases exceeding 10,000. Despite…

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