Finance

NEW YORK (Capital Markets in Africa) – The biggest mystery left in Donald Trump’s inevitable impeachment acquittal is whether any Democrats will join Senate Republicans to give him a bipartisan vote to clear him of the House’s charges. Democratic senators who represent Trump-leaning states have to decide whether they will buck their party on what could be the most important vote before the November elections and risk alienating voters who like the president. The most vulnerable…

CAIRO (Capital Markets in Africa)- Egypt and Ethiopia will sign a final agreement on the schedule for filling a reservoir on the Nile River by end of February, which would potentially ease tensions between two of the U.S.’s African allies over the use of crucial water resources. The accord that includes mutual neighbor Sudan will spell out filling mechanisms in relation to the Grand Ethiopian Renaissance Dam in drought, prolonged drought and prolonged periods of…

LONDON (Capital Markets in Africa)- The U.K. and the European Union begin their battle over a future trade deal on Monday, setting up 11 months of negotiations that risk ending in economically damaging failure at the end of the year. In a major speech in London, Prime Minister Boris Johnson will threaten to walk away from talks with the EU rather than accept demands from Brussels to sign up to the bloc’s single market regulations and the rulings of…

LAGOS (Capital Markets in Africa) – Cross-border trade in Africa brings to mind trucks backed up at border posts, corrupt officials and the smugglers trying to avoid them, and just all-around petty bureaucracy. That translates into delays, frustration and higher costs. No doubt it has limited trade between nations on the continent to just 15% of all export and import commerce compared with more than 70% in Europe. In 2020, that’s all supposed to change — or at least…

LAGOS (Capital Markets in Africa) – MTN Group Ltd. is looking to raise as much as 60 billion rand ($4 billion) from an extended asset-sale plan, with stakes in a major towers business and the carrier’s Nigerian unit among those earmarked for sale. Africa’s biggest mobile-phone company has generated about 14 billion rand since kicking off a strategy to offload non-essential businesses in March, and is ready to step up the process, MTN said in an…

KINSHASA (Capital Markets in Africa): The Democratic Republic of Congo, the world’s biggest producer of cobalt, created a state monopoly that will buy all output not extracted by industrial operators in a bid to exert more control over the price of the key ingredient in rechargeable batteries. The central African nation dominates output of the metal, accounting for more than 70% of the global market in 2018. While most Congolese cobalt comes from large, mechanized mines operated…

JOHANNESBURG (Capital Markets in  Africa): MTN Group Ltd. pledged to invest $1.6 billion to expand its operations in Nigeria after settling the latest major dispute with authorities in its most profitable market. Africa’s largest wireless carrier announced the investment after a meeting between senior executives including Chief Executive Officer Rob Shuter and Nigerian President Muhammadu Buhari on Wednesday. The two sides appeared to patch up recent differences and said they’ll work together to improve telecommunications networks in the continent’s most…