The Editorial Team |

CME’s Bitcoin Foray Has Three Plausible Outcomes: Aaron Brown

LAGOS (Capital Markets in Africa) – Cryptocurrencies are valued at $182 billion, but probably only a couple of billion dollars of that is actual investment. CME Group announced plans to offer a bitcoin futures contract this year. This brings it in line with Cboe Global Markets, which announced similar plans in August, and LedgerX, which began trading in bitcoin options and day-ahead swaps two weeks ago. These contracts are important steps toward integrating bitcoin with…

Commodity prices likely to rise further in 2018: World Bank

Posted on by The Editorial Team

LAGOS (Capital Markets in Africa) – Oil prices are forecast to rise to $56 a barrel in 2018 from $53 this year as a result of steadily growing demand, agreed production cuts among oil exporters and stabilizing U.S. shale oil production, while the surge in metals prices is expected to level off next year, the World Bank said on Thursday. Prices for energy commodities – which include oil, natural gas, and coal — are forecast…

Moody’s: Senegal’s credit profile balances economic and political stability

Posted on by The Editorial Team

DAKAR (Capital Markets in Africa) – Moody’s Investors Service (“Moody’s”) said in a report today, the Government of Senegal’s (Ba3 stable) credit profile is supported by its record of macroeconomic and political stability and policy aimed at improving economic governance and infrastructure. High government debt represents the country’s main source of credit challenges. The annual update, “Government of Senegal — Ba3 Stable, Annual credit analysis”, is now available on www.moodys.com. Moody’s subscribers can access this…

Guptas Inflated Oakbay Price Through Trade by Singapore Firm

Posted on by The Editorial Team

JOHANNESBURG (Capital Markets in Africa) – The Gupta family inflated the share price of a company it controlled on its Johannesburg Stock Exchange debut by lending money to a Singapore firm to be used to trade the equities. That came ahead of plans to raise funds for a uranium mine. The Guptas, who are embroiled in a corruption scandal linked to South African President Jacob Zuma, agreed to loan $1 million from bank accounts in Dubai…

Barrick’s Trouble in Tanzania Deepens as Acacia Chiefs Depart

Posted on by The Editorial Team

DAR ES SALAAM (Capital Markets in Africa) – The downfall of Acacia Mining Plc took a new turn as the company’s top executives resigned, bringing fresh uncertainty to the future of the Tanzanian miner owned by Barrick Gold Corp. Chief Executive Officer Brad Gordon and Chief Financial Officer Andrew Wray will step down on Dec. 31, the gold miner said in a statement. The miner’s top three executives are planning to leave, as Chief Operating Officer Mark Morcombe said last month…

Ghana Bond: A Guide to the 19.5% Debt Ghana Can’t Get Yield Hunters to Buy

Posted on by The Editorial Team

ACCRA (Capital Markets in Africa) – Ghana is having a hard time selling $820 million of local-currency debt. They aren’t sovereign notes, which is part of the problem. The second-biggest economy in West Africa attracted just a quarter of the 3.6 billion cedis of 10-year bonds up for sale last week at about 19.5 percent. Investors were willing to take on 2.4 billion cedis of seven-year notes paying just half a percentage point lower. The…

Rwandan President Sees Growth Accelerating on Banking, Mining

Posted on by The Editorial Team

KIGALI (Capital Markets in Africa) – Rwandan economic growth is expected to accelerate this year and next as the outlook for industries including financial services, tourism and mining improves, President Paul Kagame said. The pace of expansion is expected to increase to 7 percent next year from about 6 percent this year, Kagame said Thursday in an interview in Dubai. That compares with 2016’s growth rate of 5.9 percent, which was a three-year low. The pace of…

« 1 … 601 602 603 604 605 … 1,077 »