The Editorial Team |

With No ‘JPMorgan of Bitcoin,’ Exchanges Struggle to Win Trades

LAGOS (Capital Markets in Africa) – Bitcoin needs “Downtown” Josh Brown more than he needs bitcoin. Brown, the chief executive officer of Ritholtz Wealth Management and author of a popular finance blog, has long been sceptical of the digital currency. He finally bought some, he said, “because the goddamn thing won’t go away.” Bobby Lee, BTCC co-founder and chief executive officer, discusses the outlook for cryptocurrencies. Still, Brown, who helps manage half a billion dollars, isn’t really a convert…

FinTech is Accelerating the Digital Transformation of Banking in Africa

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Due to their potent blend of trail‐blazing technology and disruptive innovation, FinTech players have the ability to accelerate the digital transformation of financial services in Africa and, in turn, further spur incumbent banks to rapidly ramp‐up their own innovation initiatives to meet the financial needs of under‐served markets across the continent. August 2017, Addis Ababa, Ethiopia: FinTech players are increasingly becoming an important part of the fabric of Africa’s financial services ecosystem and the leading…

Mozambique Central Bank Trims Rates for Second Time This Year

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MAPUTO (Capital Markets in Africa) – Mozambique’s central bank cut rates for the second time this year as price growth continued to moderate. The Monetary Policy Committee reduced the permanent lending facility rate to 22.5 percent from 22.75 percent, Governor Rogerio Zandamela said in a statement on the Maputo-based bank’s website. Inflation slowed to 16.2 percent in July, the lowest since April 2016, having peaked at 26.8 percent in November. “The prevalence of risks to the inflation outlook requires…

Old Mutual First-Half Profit Climbs as Insurer’s Split Looms

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JOHANNESBURG (Capital Markets in Africa) – Old Mutual Plc, the London insurer planning to split into four separate businesses, said first-half profit almost doubled after it reduced debt and sold shares in its U.S. asset management unit. Pre-tax adjusted operating profit rose 37 percent and net income climbed to 531 million pounds ($689 million) from 284 million pounds a year earlier, the London-based insurer said in a statement on Friday. Diluted basic earnings per ordinary share increased…

Egypt Got $40 Billion in Investments, Transfers Since Float

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CAIRO (Capital Markets in Africa) – Egypt has received $40 billion in investments and transfers from abroad since floating its currency in November and securing the largest International Monetary Fund loan to a Middle East nation. The funds include receipts from exports, investors selling dollars to buy Egyptian assets, and the exchange of dollars for Egyptian pounds, either on the local market or through remittances, central bank sub-governor Rami Aboul Naga said on Thursday. The figure does not include financing Egypt…

Cybercrime growth highlights need for short- and long-term ICT education plans in South Africa

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JOHANNESBURG (Capital Markets in Africa) – The Joburg Centre for Software Engineering’s (JCSE) seventh annual ICT skills survey showed that South Africa continues to lag behind other African countries, such as Kenya, Nigeria, and Egypt, in information communication technology (ICT) skills training and an emphasis on the contribution that technology plays in contributing to economic growth. In the current environment of increasing cybercrime attacks globally, this makes the need to upskill our citizens even more…

Thomson Reuters Offers Financial Professionals Market Data & Analysis For Current And Upcoming Africa Elections

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Decision Africa App provides key economic data for Kenya, Angola, Liberia, and Mali Johannesburg, 10 August 2017 – Thomson Reuters has launched a dedicated Decision Africa app on its flagship desktop product Eikon. The app provides financial professionals with comprehensive market and data leading up to and after the elections in Kenya (8th August), Angola (23rd August), Liberia (10th October), and Mali (29th October). The app features a chart book page of all four countries…

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