The Editorial Team |

Zuma Succession Fight May Spur ANC to Pick Compromise Leader

LAGOS (Capital Markets in Africa) – As the battle to succeed South African President Jacob Zuma as leader of the African National Congress grows increasingly fractious, party Treasurer-General Zweli Mkhize is emerging as a possible compromise choice to keep the continent’s oldest political movement from tearing itself apart. While the race for the top job is widely seen as a head-to-head contest between Deputy President Cyril Ramaphosa and Nkosazana Dlamini-Zuma, the president’s ex-wife and former chairwoman of the African Union Commission, Mkhize, a 61-year-old…

What Is Bitcoin, How Does It Work And What Affects Its Price?

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LAGOS (Capital Markets in Africa) – Few technologies have the ability to stir passionate online debate and baffle the vast majority of the population as bitcoin. The virtual currency has been a constant source of interest and confusion since it thrust itself into the mainstream more than five years ago. But interest in bitcoin is now greater than ever. Its value has soared to above $4,000, a new high point, turning some people who hoarded…

Ghana’s Economy Expands Most Since 2014 as Oil Industry Grows

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ACCRA (Capital Markets in Africa) – Ghana’s economy expanded the most in three years in the second quarter as the oil and gas industry increased. The gross domestic product of West Africa’s largest economy after Nigeria’s rose 9 percent from a year earlier in the three months through June, Baah Wadieh, the acting government statistician at the Ghana Statistical Service, told reporters Wednesday in the capital, Accra. The median of five estimates in a survey…

Moody’s Sees South Africa-SAA Bailout Plan as `Moral Hazard’

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JOHANNESBURG (Capital Markets in Africa) – South Africa’s potential bailout of the state-owned airline could place pressure on the nation’s finances because other government-run companies that are cash-strapped and mismanaged may come to expect the same, Moody’s Investors Service said. “It generates moral hazards because then larger state-owned enterprises see it and there perhaps will be the perception that the government will always come and bail out, without reforms,” Zuzana Brixiova, Moody’s senior vice president for sovereign…

Kenyan Electoral Body in Talks With Parties on Vote Deadlock

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NAIROBI (Capital Markets in Africa) – Kenya’s electoral body held talks with opposition and ruling party officials as it seeks an agreement on how to handle the rerun of last month’s botched presidential vote, as a standoff between the three sides threatens to trigger a constitutional crisis. The meeting in Nairobi, the capital, sought to set a “framework of issues for discussions at subsequent talks” between the electoral body and the rival political parties, Norman Magaya,…

Uganda Bans Some Live Broadcasts as President-Age Debate Likely

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KAMPALA (Capital Markets in Africa) – Ugandan authorities told broadcasters to stop airing some live coverage as the East African nation nears a parliamentary debate on a constitutional amendment that would let President Yoweri Museveni attempt to extend his three-decade rule. The Uganda Communications Commission directed all broadcasters to refrain from airing “live feeds which are in breach of the minimum broadcasting standards,” according to a statement published on Twitter by NBS Television, a local channel. The…

Coca-Cola Nigeria Will Spend $600 Million on New Products

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LAGOS (Capital Markets in Africa) – Coca-Cola Co.’s Nigerian operation will invest $600 million by 2020 to boost sales, in line with a global strategy to extend the product range beyond its soft drinks. The unit of the Atlanta-based beverage maker plans to expand its offering of drinks to include flavoured and condensed milk, iced tea and bottled water to meet demand in Africa’s most populous country, Peter Njonjo, the president of the West Africa operation,…

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