The Editorial Team

South Africa’s Green Energy Push Hinges on $28 Billion Debt Fix

JOHANNESBURG (Capital Markets in Africsa) – The head of South Africa’s state power utility needs to substantially reduce its 402 billion rand ($28 billion) of debt to realize his vision of transforming the coal-addicted behemoth into a leading green-energy producer and create as many as 300,000 jobs in the process. Eskom Holdings SOC Ltd. supplies more than 90% of the nation’s electricity, the bulk of it from coal, and emits more than two-fifths of the nation’s…

A Crack Opens in the Foundation of the App Store Economy

Posted on by The Editorial Team

LAGOS (Capital Martkets in Africa) – When Apple Inc. introduced its App Store in 2008, the company’s founder and chief executive Steve Jobshad a message for iPhone app developers. “We are not trying to be business partners,” he told the New York Times. Jobs meant that developers didn’t have to feel threatened because Apple’s main business was selling phones, not taking 30% commissions on app sales. But the comment could be interpreted very differently today,…

Barclays to Deutsche Bank Dubbed Climate-Change Hypocrites

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LONDON (Capital Markets in Africa) – Barclays Plc and Deutsche Bank AG are among 17 banks accused by climate law activists of “hypocrisy” over work related to a controversial North Sea oil field. ClientEarth, a London-based group of lawyers that brings environmental cases, wrote to the lenders asking them to justify financial or advisory services that they provide to Royal Dutch Shell Plc and Siccar Point Energy, the two firms behind the Cambo oil field project, according to…

Biden’s Allies Shy From Taxing Rich, Eroding Inequality Promise

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NEW YORK (Capital Markets in Africa) – Joe Biden’s push to ramp up taxes on the wealthy is getting diluted by his Democratic allies in Congress, undermining the president’s chances of fully delivering on his 2020 campaign pledge to curb America’s widening inequality. A blueprint that the House Ways and Means Committee will begin voting on Tuesday, prepared by Democratic members and staff of the panel, scaled back some of the most ambitious elements of…

Bitcoin Price Prediction – A Return to $47,000 Would Bring $50,000 Back into Play

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After a bearish week last week and a bearish start to the current week, Bitcoin and the crypto majors found much-needed support this morning. At the time of writing, Bitcoin, BTC to USD, was up by 2.14% to $45,920.0. A mixed start to the day saw Bitcoin fall to an early morning low $44,699.0 before making a move. Steering clear of the first major support level at $43,311, Bitcoin rose to a late morning high $46,212.1….

Emmanuel Macron Is Dancing with Dictators: Bobby Ghosh

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LAGOS (Capital Markets in Africa) – A week after Colonel Mamady Doumbouya seized power in Guinea, France is still unsure how to respond to the crisis unfolding in its former West African colony. For now, it seems content to let multilateral bodies such as the African Union and the Economic Community of West African States try and find a resolution. They are unlikely to get very far. The AU has suspended Guinea’s membership, and Ecowas…

Africa Finance Corp Plans Debut $2 Billion Africa Climate Resilience Funds

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LAGOS (Capital Markets in Africa) – AFC Capital Partners plans to raise $2 billion to fund infrastructure projects in Africa that will make it more resilient to climate change. The asset management company, a unit of the Africa Finance Corp., will raise an initial $500 million in its debut offering over the next year and the full amount over the coming three years, it said in a statement. While Africa produces just 4% of the world’s…

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