The Editorial Team

Nigerian Company Plans to Complete New Oil Refinery by 2025

LAGOS (Capital Markets in Africa) — BUA Group, which owns Nigeria’s second-biggest cement plant, said it plans to finish building a 200,000-barrel-per-day refinery by 2025. “We are looking to between three and four years” to complete construction, Chief Executive Officer Abudul Samad Rabiu told reporters in Lagos, Nigeria’s commercial capital. The company on Wednesday signed an agreement with France-based Axens SA to build the facility in Nigeria’s southeastern Akwa Ibom state, Rabiu said, declining to…

Why Insurgency Places Mozambique’s Gas Riches at Risk: QuickTake

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MAPUTO (Capital Markets in Africa) — One of the world’s poorest countries could be transformed by Africa’s biggest-ever private investment splurge, but there’s a problem. Increasingly brazen attacks by Islamist insurgents are threatening plans to tap huge natural gas deposits found off Mozambique’s northern coast a decade ago. More than 2,600 people have died and over 700,000 have been displaced since the violence began in 2017. The country’s export ambitions are linked to giant projects…

South Africa Accuses Johnson-Johnson of Unreasonable Vaccine Demands

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JOHANNESBURG (Capital Markets in Africa) — South Africa is facing delays to coronavirus-vaccine supplies because of “unreasonable terms” being demanded by manufacturers including Johnson & Johnson in return for delivering millions of much-needed doses, Health Minister Zweli Mkhize said. The government has been notified by J&J that the company won’t sign off on the order agreed last month until it receives greater assurance of support from the state, Mkhize told lawmakers Wednesday, without being more…

Are traditional investment portfolio allocations still relevant?

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LONDON (Capital Markets in Africa) – There has been much debate around whether there is still a place for traditional portfolios made up of 60% equities and 40% bonds. We believe that asset allocators have already in recent years moved considerably away from the traditional 60/40 portfolio and this trend looks set to continue. Bond allocations There is no doubt that bonds no longer provide the protection they used to. Bond yields are so low…

Deliveroo to Dimon Stoke Fears About London’s Post-Brexit Future

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LONDON (Capital Markets in Africa) – If Deliveroo Holdings Plc’s listing was meant to hang an ‘Open For Business’ sign over the City of London, the opening day crash in the shares jarred somewhat with the message the U.K. had intended to send about post-Brexit Britain. Personally welcomed by Chancellor Rishi Sunak, the food delivery company’s initial public offering should have been a beacon to lure tech firms against competition from New York and Hong Kong, which…

100 Days of Brexit: Was It as Bad as ‘Project Fear’ Warned?

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LONDON (Capital Markets in Africa) — The warnings were stark. A vote to leave the European Union, the British government said, would trigger an immediate recession, a painful fall in house prices, and a steep drop in exports. It’s almost 100 days since Britain completed its split from the EU — almost five years after the referendum vote –- and a clearer picture of the consequences of the decision to leave is starting to emerge. The divorce…

U.K. Economy Rebounds in February as End of Lockdown Nears

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LONDON (Capital Markets in Africa) — The U.K. economy rebounded in February as a mass vaccination program and the prospect of a loosening of coronavirus restrictions lifted consumer confidence. Gross domestic product rose 0.4% following a revised 2.2% decline in January, the Office for National Statistics said Tuesday. All the main sectors of the economy saw output rise. The economy remains 7.8% smaller than it was before the pandemic hit Britain in February 2020. Britain is…

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