The Editorial Team

Twitter Plans to Hire First Product, Engineering Team in Africa

ACCRA (Capital Markets in Africa) — Twitter Inc. is planning to hire its first product and engineering team in Africa, an effort to expand its workforce in emerging markets where the social-media company hopes to attract new users. Kayvon Beykpour, Twitter’s head of product, announced the plans in a blog post, calling the effort an “exciting” part of the company’s growth strategy. “To truly serve the public conversation, we must be more immersed in the rich…

How to Invest in Bitcoin Without Getting in Over Your Head — Barrons.com

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NEW YORK (Capital Markets in Africa) — It’s harder than ever to dismiss Bitcoin as a fad or a fraud, and even longtime skeptics have come around to at least a grudging acknowledgment that cryptocurrency isn’t going away. Digital assets are rapidly entering the mainstream, and financial advisors are fielding myriad questions from clients about this rapidly growing asset class. Big-name investors like Paul Tudor Jones and Stanley Druckenmiller revealed Bitcoin allocations in 2020, while…

Crypto Shadow Banking Explained and Why 12% Yields Are Common

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LAGOS (Capital Markets in Africa) — A swathe of shadow banks in the $1.6 trillion cryptocurrency market have figured out how to generate returns of 12% with minimal risk: Lend U.S. dollars to hedge funds so they can buy Bitcoin. Some of the largest non-bank firms in cryptocurrency including BitGo, BlockFi, Galaxy Digital and Genesis are stepping up to meet investor demand for dollars amid a long-standing weariness by banks to lend to individuals or companies associated with Bitcoin and other digital assets….

Bitcoin Nears Record Before Largest U.S. Crypto Exchange Listing

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LAGOS (Capital Markets in Africa) — Bitcoin neared an all-time high on Monday after a record run for stocks and ahead of a listing by the largest U.S. cryptocurrency exchange. The token rose as much as 2.6% to $61,229, the highest in nearly a month but still short of the March 13 peak of $61,742. Bitcoin is up almost ninefold in the past year, a return that towers above that of more familiar assets like…

Africa Finance Corporation’s Total Assets Grow by 20% to US$7.36 Billion in 2020

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LAGOS (Capital Markets in Africa) – Africa Finance Corporation, one of Africa’s biggest investors in infrastructure development, has delivered a 20% growth in total assets during the 2020 pandemic year. AFC’s audited financial statements for 2020 calendar year show strong and continued growth, with total assets reaching US $7.36 billion on Dec. 31, compared with US$ 6.12 billion a year earlier. Amidst the tough economic climate, asset growth was largely driven by the robust pipeline…

Africa Seeks $25 Billion for Climate Adaptation, Green Recovery

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LAGOS (Capital Markets in Africa) — African nations aim to double funding for climate change adaptation projects to $25 billion over five years as they look to foster a green recovery from the economic damage wrought by the coronavirus pandemic. The continent most vulnerable to environmental shifts has already secured $12.5 billion from the African Development Bank for a newly launched Africa Adaptation Acceleration Program and expects to secure the balance at the next two…

Nigerian Banks Deny Owing MTN Nigeria and Other Telcos

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LAGOS (Capital Markets in Africa) — Nigerian banks are not indebted to MTN Nigeria and other phone companies for using telecommunication platforms to provide payment services, a bank chief executive said. “There is no such thing as an obligation due from banks to telcos,” Herbert Wigwe, chief executive officer of Access Bank Plc, said on an investor call in Lagos. “We chose not to make a public statement out of it because it is not appropriate for…

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