Features

DAR ES SALAAM (Capital Markets in Africa) – Tanzania said it might renegotiate natural gas contracts if its review finds terms agreed as far back as two decades unfavorable to the East African nation. The assessment of 11 agreements started two months ago and is the latest in a series of measures by President John Magufuli’s government to secure more revenue from the country’s resources. Tanzania has 58 trillion cubic feet of natural gas reserves, some…

JOHANNESBURG (Capital Markets in Africa) – Mines in South Africa, which has the world’s fifth-biggest mining sector, are seen as a benefit by only 13 percent of people who live in their proximity, a report on the industry’s social impact said. Four out of five people see no positive impact at all and 8 percent said mines brought “sickness, dispossessions and damages,” ActionAid said in a report released Tuesday. South Africa’s economy during apartheid was…

LONDON (Capital Markets in Africa) – British Prime Minister Theresa May risked enraging members of her Conservative Party by insisting she wants to keep the most contentious part of her Brexit plan for avoiding a hard border with Ireland. The premier said she will not push people to accept a divorce deal with the European Union that does not include the so-called backstop guarantee for keeping the Irish border open for goods trade. May’s comments were aimed…

JOHANNESBURG (Capital Markets in Africa) – ZAR X today took a major step toward broadening financial inclusion in the country following the official launch of its new mobile app. The ZAR X Mobi app makes it simple and easy for anyone to access the stock market in real-time via a smartphone or any Internet-enabled device to trade in the shares of companies listed on ZAR X exchange. “This web-based app will break down the barriers…

LONDON (Capital Markets in Africa) – In the relentless political drama of Brexit, the closure of a small ball-bearing factory 95 miles (152 kilometers) west of London barely registered outside the local community. The loss of the Stonehouse plant will cost 185 jobs, hardly the thousands some companies say are under threat because of the upheaval from leaving the European Union. Nor did the December announcement come with the kind of political noise surrounding Japanese carmaker Nissan…

LONDON (Capital Markets in Africa) – With the U.K. deadlocked over Brexit, financial regulators scored a rare accord aimed at preventing chaos in markets should Britain leave the European Union without a deal. Authorities in the U.K. and the EU redoubled efforts in recent days to ensure trillions of euros in transactions can continue unimpeded. The Bank of England reached an agreement with the European Securities and Markets Authority that will enable derivatives to be…