Commodities |

Binance Coin Surge Elevates Token to Ranks of Crypto Titans

LAGOS (Capital Markets in Africa) — Binance Coin has strengthened its position as one of the world’s largest cryptocurrencies after a 53% rally in the past seven days to the third spot behind Bitcoin and Ether. Issued by the world’s largest crypto exchange, the digital coin commonly known as BNB now has a market capitalization of $87 billion, according to CoinGecko.com. That makes it the third-most valuable cryptocurrency behind Bitcoin at $1.1 trillion and Ether…

Barrick’s Thornton Puts Shine Back in Gold With Randgold Bid

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LAGOS (Capital Markets in Africa) – As more than 1,100 gold mining executives, metals analysts and investors made their annual retreat to the mountains of Colorado, all anyone seemed to want to talk about was the deal that was announced just hours earlier. Mark Bristow, the outspoken chief executive officer of Randgold Resources Ltd. who helped arrange the merger with Barrick Gold Corp., didn’t seem surprised. “I have been agitating for this industry to rearrange itself,” Bristow said in…

Global Food Markets Face Supply-Shock Risk on Imbalances

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LAGOS (Capital Markets in Africa) – Most food commodities are dominated by a handful of exporting countries, exposing global markets to significant supply shocks when crops disappoint or policies change, according to the Organization for Economic Cooperation and Development and the United Nations. For products ranging from wheat to cheese and pork to poultry, the top five supplying countries will account for more than 70 percent of global exports in 2026, the OECD and the…

Cameroon considers two-year IMF aid programme to drive growth

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YAOUNDE (Capital Markets in Africa) – Cameroon and the International Monetary Fund are considering a two-year aid programme for the Central African country to deliver sustained and inclusive economic growth. Leaders of the Central African bloc (CEMAC) agreed in December to engage with the IMF to find ways to overcome macroeconomic instability caused in part by lower global commodity prices, the IMF said in a statement. Cameroon, which produces oil, cocoa, and coffee and is the…

Commodities Set to Break Into Bull Market After Four-Year Rout

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LAGOS, Nigeria, Capital Markets in Africa: The four-year bear market that pushed commodities to the lowest level in a quarter century is coming to end as supply constraints drive a recovery in everything from soybeans to zinc. The Bloomberg Commodity Index, which tracks returns from 22 raw materials, is on track to close more than 20 percent above its low on Jan. 20, meeting the common definition of a bull market. While the index has come close to…

Diamond Industry Plans to Woo U.S. Generation Favoring Gadgets

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LAGOS, Nigeria, Capital Markets in Africa: The $80 billion diamond industry is preparing to woo America’s millennial generation after a decade of promotional silence that has seen the gems lose out to other luxury goods. The Diamond Producers Association, which was established last year to promote the stones, will unveil a new advertising campaign in Las Vegas Friday as it seeks to rally younger consumers. It will focus on the U.S., the biggest market for diamonds. “Diamond…

Gem Diamonds’ revenue rises on Letseng’s high-grade diamonds

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Lesotho (Capital Markets in Africa): – Gem Diamonds Ltd said its sales increased in the year to date as it sold more high-grade diamonds from its flagship Letseng mine in Lesotho despite a weaker diamond market. Gem Diamonds said it earned an average of $2,146 per carat in the first three tenders of 2015, compared with $2,140 in the fourth quarter of 2014. The miner, which expects production at its Ghaghoo mine in Botswana to…

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