The Editorial Team |

The Internet of Tomatoes Is Coming, Starting With Boston Salads

LAGOS (Capital Markets in Africa) – Intrigued by how blockchain was changing finance, an ex-banker at Wells Fargo & Co. and a former executive at Nasdaq Inc. began looking for other opportunities. They looked at applying the technology to insurance, law, even music. Then they hit on farming. Raja Ramachandran and Phil Harris met when they were both working on Wall Street, in 2005 after Citigroup Inc. acquired electronic trading company Lava Trading. The pair remained friends for more than a…

India Exim Bank’s $100 Million Funds Nigeria Power Projects

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LAGOS (Capital Markets in Africa) – India’s Export-Import Bank will provide Nigeria with $100 million in concessionary loans to fund power projects. They include a solar-power plant to supply the northern city of Kaduna and two gas-fired facilities to be built in the south-eastern states of Enugu and Cross River, Indian High Commissioner to Nigeria B.N. Reddy said in a Nov. 7 interview in the commercial capital, Lagos. “The power sector has been identified as…

Bitcoin’s Spike Toward $8,000 Fades as Free-Money Trades Unwind

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LAGOS (Capital Markets in Africa) – Turns out not everyone is happy with the detente in bitcoin’s civil war. While the cryptocurrency soared to a record $7,882 within minutes of news that it would avoid another split on Wednesday, the gains quickly evaporated. Bitcoin is now trading about 3 percent below where it was before a faction of the community scrapped plans for a so-called hard fork. Some speculators are disappointed they won’t get the additional coins that…

City of Lights Takes Up Green-Bond Mantle as Acceptance Widens

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LAGOS (Capital Markets in Africa) – Paris, where 195 countries reached an international climate accord, is lending its name to a bond market that touts sustainable development, cleaner air and even affordable housing. The City of Lights is the latest entrant to a market HSBC Bank Plc forecasts will expand by $180 billion in 2018, representing a 44 percent increase over this year’s sales and bringing the amount outstanding to $463 billion. France’s capital wants to use…

Zimbabwe’s Ousted Vice President Flees After Death Threats

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HARARE (Capital Markets in Africa) – Former Zimbabwean Vice President Emmerson Mnangagwa fled the southern African nation because of “incessant threats” against him and his family two days after he was fired by President Robert Mugabe. Mnangagwa, 75, said Wednesday in a statement that he never planned to harm Mugabe, who he’s been supporting for more than four decades, and pledged to work to establish a “new and progressive leadership” in the ruling Zimbabwe African National Union-Patriotic Front….

Ramaphosa’s Announcement of ANC Leadership Ticket Riles Backers

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JOPHANNESBURG (Capital Markets in Africa) Leaders of the ruling African National Congress in South Africa’s richest province said they oppose Deputy President Cyril Ramaphosa’s decision to announce a ticket of running mates in his bid to become the ANC’s next president, saying it has the potential to deepen divisions in the party. While ANC leaders in Gauteng province back Ramaphosa to replace President Jacob Zuma as ANC leader, they don’t support his announcement on Sunday of a…

Angola Sovereign Wealth Fund Denies Claims Investments Illegal

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LUANDA (Capital Markets in Africa) – Angola’s Sovereign Wealth Fund said all its operations are legitimate and denied allegations based on the so-called Paradise Papers about how its $5 billion of capital is invested. “A series of articles have been published in a certain section of the media with unfounded allegations and incorrect information about Fundo Soberano de Angola,” the fund said in a statement on its website on Tuesday. “We would like to reiterate that…

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