The Editorial Team

Biden Dismisses Inflation Worries, Warns on Hiring Difficulties

NEW YORK (Capital Markets in Africa) – President Joe Biden dismissed concerns that the U.S. would experience persistent inflation as the economy emerges from the pandemic while cautioning that restaurants and others in the hospitality sector might take longer to recover. “There will be near-term inflation” because the economy is picking back up, Biden said Wednesday night at a CNN town hall in Cincinnati. But most economists believe that “it’s highly unlikely that it’s going…

Ramaphosa’s On Trial as Much as Zuma: Bobby Ghosh

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JOHANNESBURG (Capital Markets in Africa) – After South Africa’s week from hell, the trial of Jacob Zuma has been postponed until August 10, and it will be months, perhaps even years, before a judicial panel decides whether or not the former president is guilty of corruption. His successor faces far swifter judgment in the court of public opinion. President Cyril Ramaphosa is scrambling to undo the damage, physical and political, wrought by the widespread rioting in…

South African Key Rate Seen Steady, GDP Forecast Cut on Riots

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JOHANNESBURG (Capital Markets in Africa) – South Africa’s central bank will probably keep the benchmark interest rate unchanged and lower its economic-growth forecasts on Thursday as the country reels from a third wave of Covid-19 restrictions and after deadly riots. While output rose more than expected in the three months through March and data, including the composite leading business-cycle indicator, suggest an acceleration in gross domestic product in the second quarter, the unrest that erupted in…

Tycoon Dangote Can’t Get Enough Tomatoes to Run Plant Profitably

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LAGOS (Capital Markets in Africa) — Nigerian billionaire Aliko Dangote is barely managing to operate Africa’s biggest tomato processing plant, six years after the factory began production, as he can’t get adequate berries to crush. Dangote’s 1,200-ton a day plant is producing at 20% of capacity because farmers don’t have enough resources to boost acreage. The factory was meant to reverse Nigeria’s dependence on imports of tomato paste from China and increase local production. But…

Top Multiplier Online Slots Games to Win Real Money

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Top Megaways Slot Games in 2020

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Giant Dam Is Messing Up Water in Africa Even Before It Is Filled

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LAGOS (Capital Markets in Africa) — As Ethiopia begins diverting 13.5 billion cubic meters of water from the Blue Nile river to its controversial new mega-dam, residents of Sudan to the south fear a repetition of last year’s devastating drought. The second stage of filling the $4.5 billion reservoir is ratcheting up tensions between Ethiopia and neighbors Sudan and Egypt, who depend on the Nile to support farming and generate power for their economies. It’s…

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