The Editorial Team |

Congo Halts Sicomines Copper Exports, Orders Local Refining

KINSHASA (Capital Markets in Africa) – The Democratic Republic of Congo ordered Sinohydro Corporation and China Railway Construction Corp.’s local mining venture to stop exporting unprocessed copper and cobalt and refine all its metals within the country. Sicomines must ship “only high-value products” as the government looks to “ensure the prompt repayment” of the country’s continuing $6 billion minerals-for-infrastructure deal with China, Mines Minister Martin Kabwelulu said October 2 in response to questions sent by text message….

Congo Opposition Leader Katumbi Will Return to Congo in December

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KINSHASA (Capital Markets in Africa) – Democratic Republic of Congo opposition leader and presidential hopeful Moise Katumbi said he will return to his homeland in December after more than a year abroad to participate in the country’s delayed elections. The 52-year-old former governor of Congo’s copper-rich Katanga province plans to challenge President Joseph Kabila’s rule of the Central African country on his return, he said at a conference Monday in London. Katumbi has previously pledged to return to…

Africa’s Contemporary Art Finds a Home in Cape Town Museum

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JOHANNESBURG (Capital Markets in Africa) – Overlooking the harbour in Cape Town, the Zeitz Museum of Contemporary Art Africa, known as Zeitz Mocaa, opened last month in a former corn silo complex that was renovated for 500 million rand ($37 million). It displays strictly 21st century works by a range of young and established artists from across the continent, including South Africa’s Simphiwe Ndzube and William Kentridge and Kenyan-born Wangechi Mutu, as well as African-American and Afro-Caribbean pieces….

INTO AFRICA October 2017 Edition: Mind the Gap – Risk in Africa

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Welcome to the October 2017 edition of INTO AFRICA, a publication with fresh insight into Africa’s emerging capital markets. This edition looks at challenges and risks in Africa and its title: Mind The Gap: Risk In Africa. Over the past few years, African economies have increasingly an essential part of any expansion strategy as corporate leaders and fund managers under constant pressure to maximize returns and put capital to work. Although African markets offer a…

Bitcoin’s Rise Happened in Shadows of Finance. Now Banks Want In

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LAGOS (Capital Markets in Africa) – At first, bitcoin was a way to make payments without banks. Now, with more than $100 billion stashed in digital currencies, banks are debating whether and how to get in on the action. Goldman Sachs Group Inc. Chief Executive Officer Lloyd Blankfein tweeted Tuesday that his firm is examining the cryptocurrency. Other global investment banks are looking into facilitating trades of bitcoin and other cryptocurrencies, according to industry consultants. Bitcoin has surged more than 300…

South African Airways Is Said to Hire Aviation Veteran to Meet Lenders’ Terms

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JOHANNESBURG (Capital Markets in Africa) – South African Airways has agreed to hire a restructuring expert to help turn around the state-owned airline and meet conditions laid down by lenders to roll over debt, according to two people familiar with the matter. Incoming Chief Executive Officer Vuyani Jarana met with British industry veteran Peter Davies last month and he agreed to help try to return SAA to profit, said the people, who asked not to be identified as the…

Weak South Africa Growth May Allow for Lower Rate, Bank Says

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JOHANNESBURG (Capital Markets in Africa) – South Africa’s weak economic growth may provide some scope for lower interest rates, the central bank said. “With near-zero growth and a negative output gap, there is some limited scope for lower interest rates to have positive counter-cyclical effects,” the South African Reserve Bank said in its Monetary Policy Review Wednesday. The central bank left its key rate unchanged at 6.75 percent on Sept. 22 as it assessed risks to the rand…

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