Features

LONDON (Capital Markets in Africa) — England’s house-hunters have raced back after the property industry was released from lockdown. But few of them want to live in London. In what’s likely to be a short-lived rebound, interest in buying homes over the past two weeks has surged 20% compared with the start of March, according to a report from property portal Zoopla Ltd. released Wednesday. For homes in the capital, however, demand was still 14% below the…

NEW YORK (Capital Markets in Africa) — The U.S. is considering a range of sanctions to punish China for its crackdown on Hong Kong, people familiar with the matter said, as the Trump administration weighs whether to declare the former colony has lost its autonomy from Beijing. The Treasury Department could impose controls on transactions and freeze assets of Chinese officials and businesses for implementing a new national security law that would curtail the rights…

LAGOS (Capital Markets in Africa) — According to the Minister of Finance, Nigeria will experience a further economic recession due to the COVID-19 pandemic. It goes without saying that the economy has been adversely affected by the collapse of oil prices and demand coupled with the partial lockdown implemented to curb coronavirus spread. The economic impact of the virus worldwide is expected to far outweigh the medical impact. For example, in the US, the virus…

BURUNDI (Capital Markets in Africa) — Burundian ruling party candidate Evariste Ndayishimiye won the nation’s presidential election, which was marred by violence and health concerns because of the coronavirus outbreak. The outcome was immediately rejected by the opposition. Ndayishimiye won with 68.7% of the ballots cast on May 20, according to the Independent National Electoral Commission. His main rival, Agathon Rwasa, got 24.2%, the commission announced on Monday. Rwasa’s National Freedom Council rejected the results, alleging…

LAGOS (Capital Markets in Africa) — To hear jihadist militants tell it, the coronavirus is an opportunity not to be missed. With governments worldwide focused on the crisis, Islamist groups insist the time is ripe for increased attacks, and they say their followers are getting the message, especially in fragile African countries. Islamic State has dubbed the outbreak “the crusader’s worst nightmare,” urging adherents to take up arms. The leader of Nigeria’s Boko Haram terrorist…

NEW YORK(Capital Markets in Africa) — Moderna Inc. plans to raise as much as $1.3 billion through a sale of shares to fund the manufacturing of a coronavirus vaccine seen as one of the frontrunners in the race for immunization against the widening pandemic. The U.S. biotechnology firm will sell 17.6 million shares priced at $76 apiece, according to a statement Tuesday. The price represents a 5% discount to Monday’s closing price. Morgan Stanley is…

LONDON (Capital Markets in Africa) — Prime Minister Boris Johnson came up against increasing pressure over his handling of the coronavirus crisis just as the British economy recorded its largest monthly contraction on record. Chancellor of the Exchequer Rishi Sunak warned on Wednesday the U.K. faces a significant recession after gross domestic product fell almost 6% in March. “We’ve got a very sharp move into recession, and it was quite sudden, which is what we’ve all observed from the…