Uncategorized

ABIDJAN (Capital Markets in Africa) – Zimbabwe angrily denounced a U.S. government decision to curb imports of diamonds from its Marange field, branding the claim the country uses forced labor at the operations “a shameless lie.” “Invoking the repulsive prospect of alleged forced labor is a new nomenclature for seeking to bar Zimbabwe’s diamonds from the international markets,” the southern African nation’s government said in a statement. “This move constitutes a grave and serious attack…

LONDON (Capital Markets in Africa) – Angela Merkel’s challenge to Boris Johnson to find a Brexit solution in the next 30 days sounds impossible. But while both sides are talking tough, officials in private say there’s still time to salvage a deal. The latest person to sound skeptical about the British prime minister’s chances of taking the U.K. out of the European Union with an agreement was a senior French official close to President Emmanuel Macron. A no-deal…

LAGOS (Capital Markets in Africa) – African local bonds are on a tear as investors flock to riskier assets. But the continent’s stocks are missing out, despite being much cheaper than their emerging-market peers. The AFMI Bloomberg African Bond Index, which groups the local-currency debt of eight nations including South Africa, Nigeria, Egypt and Ghana, has gained 6.1% in dollar terms since the start of May, around the time a dovish tilt by major central banks…

NEW YORK (Capital Markets in Afrioca) – After months of predicting a trade deal between the world’s two largest economies, economists at some of the biggest financial institutions are growing increasingly pessimistic. Goldman Sachs Group Inc., Nomura Holdings Inc. and JPMorgan Chase and Co. are among those that have rewritten their forecasts as U.S. President Donald Trump threatens to impose a 25% tariffs on around $300 billion of additional Chinese imports. Analysts at Nomura have made that…

 LAGOS (Capital Markets in Africa) – After seven decades, the fifty-five African states are trying to sincerely decide on their own future course through greater and definitive integration. Several regional organisations were conceived of whom some function more actively and comprehensively than the others especially in the domain of economy and trade. Several regional groups have overlapping entities and overarching approaches which tended to confuse the effort with the expected outcomes. Africans have made sincere…