The Editorial Team |

Hedge Fund That Loves Bitcoin Unfazed by Surge Toward $6,000

LAGOS (Capital Markets in Africa) – Bitcoin-focused hedge fund BitSpread Limited isn’t interested in the price of the cryptocurrency, even as it soared close to the $6,000 mark this week. Instead, the firm is looking at something else: the price disparity between the exchanges that sell bitcoin. “We’re not interested in the price of bitcoin — high or low,” said Cedric Jeanson, the former JPMorgan Chase & Co. trader who started Bit Spread, which manages more than $25…

Barclays CEO Whistle-Blower Probe Is Said to Take Until December

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LAGOS (Capital Markets in Africa) – U.K. regulators probing Barclays Plc Chief Executive Officer Jes Staley’s attempts to unmask a whistle-blower will probably take until the end of the year to conclude their investigation, people with knowledge of the process said. The Financial Conduct Authority expects to reach a final decision on Staley’s fate in December, said the people, who asked not to be identified speaking about an open case. That would be two months later than the original October…

Tunisia to Raise Taxes, Curb Wage Growth in 2018 to Fix Finances

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TUNIS (Capital Markets in Africa) – Tunisia plans to cut its budget deficit by raising taxes and curbing wage increases next year, as it implements an IMF-backed plan designed to fix state finances, spur growth and create jobs. The government is aiming for a budget gap of 4.9 percent of gross domestic product in 2018, the state-run news agency TAP reported, compared with about 6 percent projected by the IMF for this year. Revenue measures…

Money Manager Targets Return From Housing South Africa Students

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JOHANNESBURG (Capital Markets in Africa) – South African stock exchange investors are about to get their first opportunity to bet on income from housing students enrolled at the country’s campuses. Inkunzi Wealth Group, a Johannesburg-based money manager, intends to offer shares in a student accommodation fund on the city’s main exchange before the year is out, Chief Executive Officer Owen Nkomo said in an interview. There’s demand from listed property investors for an alternative to exposure to…

Drawn-Out Vote in Kenya Increased Risks for Investors, IMF Says

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NAIROBI (Capital Markets in Africa) – Kenya’s election rerun is raising the country’s risk profile among investors and weighing down already sluggish economic growth, theInternational Monetary Fund said. “The prolonged election period has increased risks for investors and traders,” Jan Mikkelsen, the Washington-based lender’s new resident representative in Kenya, said in an emailed response to questions. “This in turn has led to a slowdown in economic activity.” The IMF has lowered its 2017 economic growth forecast for…

Brawls, Autocratic Moves Threaten East African Democracy

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KAMPALA (Capital Markets in Africa) – Ugandan lawmakers brawl over a bill that could create a president-for-life. Tanzania arrests lawmakers and shutters newspapers. And as Kenya tries to rerun a botched election, a ruling party leader says what the country really needs is a benevolent dictator. As unrest and crackdowns plague some of the region’s largest economies, home to various levels of political freedom, the situation is adding to uncertainty in a part of the world already rocked by…

My Reluctant Education in Bitcoin: Fully Charged

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LAGOS (Capital Markets in Africa) – While markets as a whole have been pretty boring this year, cryptocurrencies have been anything but. I, along with a vast majority of the population, have avoided thinking about this super-complex world for as long as possible. But I’ve finally forced myself to make the dive. And it looks like a lot of people have as well. Even my boxing coach recently asked me if he should buy bitcoin or ethereum….

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