The Editorial Team |

OPEC Caps for Libya, Nigeria Wouldn’t Fix Global Oil Glut

LAGOS (Capital Markets in Africa) – A proposal that Libya and Nigeria could have to accept limits on their crude production probably wouldn’t be enough to put OPEC’s faltering efforts to eliminate a global supply glut back on track. The two African nations — exempt from the supply curbs agreed last year due to internal strife — have added enough production in the last two months to offset Saudi Arabia’s cut. Should the pair accept a cap…

Global Food Markets Face Supply-Shock Risk on Imbalances

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LAGOS (Capital Markets in Africa) – Most food commodities are dominated by a handful of exporting countries, exposing global markets to significant supply shocks when crops disappoint or policies change, according to the Organization for Economic Cooperation and Development and the United Nations. For products ranging from wheat to cheese and pork to poultry, the top five supplying countries will account for more than 70 percent of global exports in 2026, the OECD and the…

Nigeria’s Succession Jitters With Ill President Buhari

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LAGOS (Capital Markets in Africa) – Nigeria is awash in nervous speculation over the health of President Muhammadu Buhari, who hasn’t appeared in public since he returned to the U.K. for medical treatment for an undisclosed ailment on May 7. Buhari, 74 and a Muslim, has formally designated his deputy, Yemi Osinbajo, acting president as he did when he was away on medical leave for 49 days from Jan. 20. The prospect of Osinbajo, a 60-year-old Christian,…

South Africa’s Welfare Agency Scraps Minister’s Advisory Teams

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Johannesburg (Capital Markets in Africa) – The South African Social Services Agency has scrapped the advisory groups that were set up to plan for the future of the country’s more than $11 billion of annual welfare payments. Letters were sent to the so-called “work streams” last week informing them of their termination, Sassa Chief Executive Officer Thokozani Magwaza said in an interview at Bloomberg’s Johannesburg office on Monday. Magwaza said he had informed Social Development Minister…

INTO AFRICA July 2017 Edition: Navigating African Legal Landscapes

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LAGOS (Capital Markets in Africa) – Welcome to the July edition of INTO AFRICA, the publication with fresh insight into Africa’s Emerging capital markets. This month we take a look at investment in Africa with a focus on laws and regulations for private and foreign investments across African countries (from Southern Africa to North Africa and East Africa to West Africa as well as Mid Africa regions) and titled: Navigating African Legal Landscapes. Economic recession in Africa,…

Sudan Says U.S. Backs Its WTO Bid as Sanctions Decision Due

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KHARTOUM (Capital Markets in Africa) – The U.S. is backing Sudan’s bid to join the World Trade Organization, a Sudanese official said, days before Washington is due to decide whether to permanently lift some sanctions imposed on the African country two decades ago. “Our team is very much satisfied with the support of the U.S. for Sudan going into the WTO,” Sudanese State Investment Minister Osama Faisal Elsayed Ali said in an interview. The North African…

Libya, Nigeria May Be Asked to Cap Oil Output, Kuwait Says

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LAGOS (Capital Markets in Africa) – Libya and Nigeria, which have both boosted oil production since they were exempt from global cuts this year, may be asked to cap their crude output soon in an effort to help re-balance the market, Kuwait Oil Minister Issam Almarzooq said. OPEC and non-OPEC producers have invited the two African nations to their committee meeting in St. Petersburg, Russia, on July 24 to discuss the stability of their production, Almarzooq said…

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