The Editorial Team |

Weak Naira, Inflation Leave Nigeria Little Room to Cut Rates

LAGOS (Capital Markets in Africa) – A weak naira and stubborn inflation may prevent Nigeria’s central bank from following South Africa and Ghana in cutting interest rates. Only two of 19 economists in a Bloomberg survey predicted the Monetary Policy Committee will reduce borrowing costs on Tuesday. The rest said the key rate will stay at a record high of 14 percent, where it’s been for a year. Governor Godwin Emefiele, who is scheduled to announce the…

Libya, Nigeria Oil Output Caps Said to Be Ruled Out for Now

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LAGOS (Capital Markets in Africa) – Limiting oil output from Nigeria and Libya won’t be on the agenda when OPEC and other producers meet on Monday, with both African nations saying they’ll need to keep pumping at a higher level before they can join a global effort to stem a supply glut, according to two people familiar with the planned talks. Nigeria is ready to cap or even reduce supply if it can maintain output of 1.8 million…

Kenya Presidency Race Narrows, Run-Off Likely, Pollsters Say

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NAIROBI (Capital Markets in Africa) – The race for Kenya’s presidency between incumbent Uhuru Kenyatta and opposition leader Raila Odinga has tightened less than three weeks before election day, with polls showing both candidates lack the support to avoid a second-round vote. Odinga, a former prime minister, is backed by 47 percent of voters, while Kenyatta is at 46 percent, according to a poll by Infotrak released in the capital, Nairobi, on Sunday. A separate survey by Ipsos showed…

It Isn’t Tesla That’s Driving German Cars Off the Road

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LAGOS (Capital Markets in Africa) – Just as Germany’s car industry seemed to be turning a corner after the diesel emissions scandal, along comes another potentially credibility-shredding story. Volkswagen AG (and its Porsche and Audi subsidiaries), BMW AG and Daimler AG may have colluded for decades to agree on technical standards, thereby impeding competition, Der Spiegel reported on Friday. While the scope of any wrongdoing or potential fines are very unclear, these cartel allegations may yet impose a heavy financial…

NPF Regtech Leaders Forum: Building a Network of Industry Influencers

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The NextGen Payments – Regtech Leaders Forum 2017, continuing the NextGen Payments events series, is set to launch on September 6-7 in Brussels. The event will address the accelerating digitalisation and automatisation of the finance sector – from regulatory changes and newest compliance practices to AI and robotics integration; its present day effects and the future of personal and business finances. This exclusive event will include participants from all over Europe, Australia, Russia, the Middle…

Mining Clash Heats Up as South Africa Seeks Rights Freeze

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JOHANNESBURG (Capital Markets in Africa) – South Africa’s mines minister has struck back at attempts by the industry to fight his controversial new industry rules with a proposal to indefinitely freeze granting and renewing mining rights. Minister Mosebenzi Zwane said Thursday that the moratorium is necessary to ensure that no rights are approved without being subject to the new regulations, which he has agreed to suspend pending an initial court judgment. The Chamber of Mines, which represents the industry, will…

Why Ghana Central Bank May Cut Key Interest Rate

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ACCRA (Capital Markets in Africa) – Ghana’s central bank may cut its key interest rate for a third straight meeting with inflation at its slowest in four years and a strengthening currency. Consumer-price growth has tumbled 7.1 percentage points since reaching an all-time high of 19.2 percent in March last year. While the cedi weakened to a record low against the dollar on March 2, it has strengthened 8.2 percent since then. The median of seven economists’ estimates…

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