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Africa: Real GDP to grow by 3.4% in 2021, outlook subject to elevated uncertainties

LAGOS (Capital Markets in Africa) – The African Development Bank Group (AfDB) projected Africa’s real GDP to grow by 3.4% in 2021, after contracting by 2.1% in2020 due to the fallout from the coronavirus pandemic. It attributed the region’s economic recovery to the easing of pandemic related restrictions, the anticipated resumption of tourism activity, and the increase in commodity prices. It noted that the economic impact of the pandemic varies across economic groupings and sub-regions,…

Nigeria Kicks Off Power Sector Revamp Agreement With Siemens

Posted on by The Editorial Team

LAGOS (Capital Markets in Africa) — Nigeria President Muhammadu Buhari has kicked off the next phase of a deal with Siemens AG to upgrade the nation’s dilapidated power infrastructure. The government of Africa’s largest economy and the German engineering firm signed an agreement last July to rehabilitate and then expand the country’s electricity grid. Only about 60% of residents have access to power and even those who do are plagued by regular blackouts. Buhari directed…

INTO AFRICA April 2019 Edition – Envision Africa’s Digital Revolution

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Welcome to the April 2019 edition of INTO AFRICA, a publication written by the professionals, for professionals, investors, policymakers … Advancing and providing fresh insight into Africa’s emerging markets through renowned thought leadership and peer-to-peer knowledge-sharing. The edition is titled: Envision Africa’s Digital Revolution. Technology has the potential to fundamentally transform societies. It enables rapid improvements to industrial production and societal services, positively influencing the way we live and interact with our environment. Africa is…

Harnessing Africa’s Digital Potential Could Help Tackle Closing The Digital Divide

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LAGOS (Capital Markets in Africa) – Today’s digital divide is very much a reflection of existing global and societal divides. Often, existing inequalities are exacerbated by a lack of internet access. This is particularly reflected in emerging economies like Africa, where people may not always have the means to access the best that technology has to offer. I strongly believe closing the digital divide, between those who have access to the Internet and those who…

Tillerson Heads to Africa With Security, Not Aid, as Focus

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LAGOS (Capital Markets in Africa) – Secretary of State Rex Tillerson begins his first official trip to sub-Saharan Africa with a pledge to help shore up trade, civic freedom and good governance in countries that President Donald Trump has harshly criticized. Tillerson arrived on the continent Wednesday with the Trump administration advocating cuts of more than a third in aid to African countries and programs, along with deep reductions to global health initiatives. With several U.S. allies struggling to…

Supreme Court Lets Trump Travel Ban Take Full Effect for Now

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LAGOS (Capital Markets in Africa) – A divided Supreme Court let President Donald Trump’s ban on travel to the U.S. from six mostly Muslim countries take full effect while legal challenges go forward, handing him a major victory and suggesting the court ultimately will uphold the restrictions. Trump will now be able to bar or limit entry by people from the Mideast and North African nations even if they have a relationship with a U.S.-based person…

Petronas Unit Said to Hold Talks With Shell Operator in Africa

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JOHANNESBURG (Capital Markets in Africa) – Petroliam Nasional Bhd’s South African unit, Engen, is in talks with Vivo Energy Holding BV to combine some of their African fuel-retail assets, according to two people familiar with the matter. The deal would be worth as much as 3.5 billion rand ($256 million), or about 20 percent of Engen’s equity value, said the people, who asked not to be identified as the negotiations are ongoing. Engen, which is 26…

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