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The Mining Industry’s Generation of Something New

LAGOS (Capital Markets in Africa) – A few years after this century’s commodity boom, which was primarily driven by China’s resource-intensive manufacturing and infrastructure sectors, many segments within the global mining industry are facing challenges that have caused severe price declines, increased volatility and lowered utilization levels. To add to this, the current value-chain is being challenged by macroeconomic conditions and increasingly pervasive new technology. As a matter of fact, the digital transformation of mining…

Gabon Government Says It Quashed Coup by Army Mutineers

Posted on by The Editorial Team

LIBREVILLE (Capital Markets in Africa) – Gabonese authorities said they put down an attempted coup by a group of mutineering soldiers who’d seized control of the national broadcaster and vowed to “save a democracy in danger.” Communication Minister Guy-Bertrand Mapangou told Radio France Internationale on Monday that order had been restored, and the capital, Libreville, was largely quiet. His statement came hours after Ondo Obiang Kelly, an army lieutenant, read a statement on state TV…

Ivory Coast Is Said to Plan Eurobond Sale of at Least $1 Billion

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ABIDJAN (Capital Markets in Africa) – Ivory Coast is planning to sell at least $1 billion in Eurobonds as the West African nation weighs its finance needs against rising debt costs, according to three people familiar with the matter. The world’s top cocoa grower, which budgeted to raise 1.44 trillion CFA francs ($2.5 billion) in debt in 2019, is reviewing the amount of securities it can sell on the regional market and will seek the remaining…

Gabon Coup Attempt Poses Little Risk to Oil Market

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LAGOS (Capital Markets in Africa) – Any potential disruption to Gabon’s oil output, following a military coup attempt, would only have an impact on a small share of OPEC’s total output because the country produces so little. Military officers seized Gabon’s state broadcaster Monday in what appeared to be a coup against ailing President Ali Bongo. The soldiers who attempted the coup have been arrested and there has been no reported disruption to the country’s oil output, which accounts for…

Nigeria’s Buhari Could Lose the 2019 Election, Teneo Says

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LAGOS (Capital Markets in Africa) – Nigeria’s President Muhammadu Buhari could lose power in February’s election if the opposition manages to unite, according to New York-based analysis firm Teneo Intelligence. A close governorship election over the weekend in the south western state of Osun, currently held by Buhari’s All Progressives Congress, bodes badly for the ruling party and signals its waning popularity, Teneo said in a note to clients. While Nigeria’s electoral commission said there would be…

Global Security at Stake in Mali’s Islamist War, President Says

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BAMAKO (Capital Markets in Africa) – Malian President Ibrahim Boubacar Keita said his country’s six-year fight against Islamist militants should be a global concern as the West African nation faces the fallout from the offensives against insurgents in Iraq and Libya. “What’s happening in Mali doesn’t only concern us here, but the global community,” Keita, 73, said in an interview in the capital, Bamako. “With the advances in the fight against the Islamic State in Syria and…

Unity Is Nigeria Opposition’s Key Hurdle in Defeating Buhari

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LAGOS(Capital Markets in Africa) – The floodgates have opened. At least 12 challengers are bidding to defeat Nigerian President Muhammadu Buhari in February’s elections, but their sheer number will strain the opposition’s ability to unite behind a single candidate to stand a chance of winning. With the president of Africa’s biggest oil producer facing discontent over security crises and an anemic economy, top candidates including Senate President Bukola Saraki, former Vice President Atiku Abubakar and ex-Kano state Governor Rabiu Kwankwaso are defectors…

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