Features

ADISS ABABA (Capital Markets in Africa) – Since taking power last year, Ethiopian Prime Minister Abiy Ahmed has been on a drive to open up Africa’s second-most-populous nation. He has scrapped bans on opposition and rebel groups, purged allegedly corrupt officials and ended two decades of acrimony with neighboring Eritrea — an initiative that won him the 2019 Nobel Peace Prize. He has also put out the welcome mat for foreign capital in an effort…

NEW WORK(Capital Markers in Africa) – The House Intelligence Committee impeachment inquiry into President Donald Trump plans Thursday to hear from Fiona Hill, the former National Security Council director for Europe and Russia, and David Holmes, a Foreign Service officer at the U.S. Embassy in Kyiv. Here are the latest developments: Holmes Recalls Loud Trump Call With Sondland (10:43 a.m.) Holmes said he could hear the call between diplomat Gordon Sondland and Trump at an outdoor restaurant terrace…

JOHANNESBURG (Capital Markets in Africa)- South Africa’s post office is cutting several hundred jobs, the second state-owned company in as many days to detail plans to lay off workers as the government looks to slash its wage bill. Finance Minister Tito Mboweni signaled last month he’s intent on lowering the government’s payroll costs, which consume 35% of national spending. The cuts are part of a plan to defend the nation’s last remaining investment-grade credit rating,…

ACCRA (Capital Markets in Africa) – West African states’ failure to coordinate their response to piracy off their coastline is the main reason attacks are persisting, Togolese President Faure Gnassingbe said. Seaborne assailants boarded two vessels off the coast of Togo and neighboring Benin earlier this month, the latest in a series of attacks in the world’s worst piracy hotspot in the Gulf of Guinea that stretches from Senegal to Angola. While the 15 states and western…

LONDON (Capital Markets in Africa) – Prince Andrew’s attempt to explain away his friendship with pedophile financier Jeffrey Epstein in a high-profile TV interview degenerated into a farce that threatens to be the British royal family’s biggest public relations disaster since its handling of the death of Princess Diana in 1997. #PrinceAndrew trended high on Twitter as Saturday’s hour-long interview with the BBC began airing on prime-time British TV. Interviewed by Newsnight host Emily Maitlis…

NEW YORK (Capital Markets in Africa) – The bonhomie between President Donald Trump and North Korean leader Kim Jong Un is nearing a key deadline showing new signs of strain. Trump urged Kim over the weekend to “act quickly” to get a nuclear deal done, suggesting the two leaders could meet again “soon.” His comments came hours after North Korea ruled out nuclear talks without a policy change by the U.S. and reported on a…

The gaming industry is booming. Industry reports reveal that revenue from worldwide gaming reached $135 billion (₦48.7 trillion) in 2018. That number is 10.9% higher compared to 2017, and it speaks to how much the industry is thriving. All three major sectors, in fact, saw marked improvements: mobile revenue rose by 12.8% to $63.2 billion (₦22.8 trillion); PC, by 3.2% to $33.4 billion (₦12 trillion); and the console sector by 15.2% to $38.3 billion (₦14…