The Editorial Team

Chad ExxonMobil Unit Shuts in Production Site Over Labor Dispute

CHAD (Capital Markets in Africa) – A unit of Exxon Mobil Corp. has temporarily shut in production in Chad after its facilities were attacked over ongoing talks to sell the business to London-based Savannah Energy. Workers have been protesting while in negotiation with the leadership of Esso Exploration and Production Chad Inc. about their remuneration package ahead of the proposed sale, Tchad Infos reported Wednesday. “For the safety and security of our employees and contractors,…

Africa’s Absolute Monarchy Shuts Schools to Quell Protests

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LOBAMBA (Capital Markets in Africa) – Eswatini, Africa’s last absolute monarchy, shut schools indefinitely as pro-democracy protests intensified. Lessons are suspended with immediate effect, Prime Minister Cleopas Dlamini said in a statement. The unrest comes less than four months after police and the army acted to crush similar widespread demonstrations in the kingdom. The pro-democracy protests have escalated in recent weeks with pupils and public-transport workers joining the calls for change. King Mswati, 53, who’s ruled…

Zimbabwe Eyes Stakes in Neighbors’ Hydropower Plants

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HARARE (Capital Martkets in Africa) – Zimbabwe’s state electricity utility is in talks to invest in hydropower plants in the Democratic Republic of Congo and Mozambique, or alternatively buy their output to ease crippling energy shortages. The southern African nation has an installed generation capacity of 2,100 megawatts, but on average generates less than two two-thirds of that. While it already imports electricity from neighboring countries, outages remain commonplace. Zimbabwe Electricity Supply Authority “is pursuing opportunities…

Moody’s Cuts Ethiopia’s Credit Rating Second Time in Five Months

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ADDIS ABABA (Capital Markets in Africa) – Moody’s Investors Service cut Ethiopia’s sovereign credit rating for a second time since May, citing a delay in the nation’s planned debt restructuring and an escalating civil war. The company lowered the rating one level to Caa2, it said in a statement on Wednesday. Moody’s in March placed the country on review for downgrade, before cutting the rating two months later. The outlook is negative.A creditor committee to discuss Ethiopia’s…

How to use your desires efficiency in Forex trading?

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Everybody desires to make money from their businesses. When they are participating in Forex, their desires go up to the roof. That’s because this marketplace has a good reputation for the daily transaction. It also has high volatility. Due to high volatility, the traders experience more frequent opportunities. Some individuals experience significant pips deviation in the markets. Due to a character like that, most individuals dream of a successful trading career in this marketplace. Unfortunately…

Africa and the golden age of global investment – Cheryl Buss, CEO Absa International

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LONDON (Capital Markets in Africa) – For years, many have recognised the burgeoning potential that Africa holds for global investors. The continent is home to eight of the 15 fastest growing economies in the world, so its economic prosperity matters globally. But the pandemic has hit Africa hard, with meaningful recovery set to take several years. Now more than ever, Africa requires investment, and that investment offers great opportunity, both to global investors and the…

Bailey Says Bank of England ‘Will Have to Act’ on Inflation

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LONDON (Capital Markets in Africa) – Bank of England Governor Andrew Bailey moved to strengthen the case for raising interest rates, saying the central bank will “have to act” to curb inflationary forces and warning higher energy costs mean price pressures will linger. Speaking to an online panel organized by the Group of 30, Bailey said that while central banks don’t have the tools to counter supply disruptions and he still believes the recent acceleration…

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