The Editorial Team |

African Nations Are Already Hiking Rates With More to Come

LAGOS (Capital Markets in Africa) — Inflationary pressures and currency weakness could force central banks in some key African economies to tighten monetary policy, even as the slow rollout of coronavirus vaccines and new mutations of the disease poses risks to economic growth. Mozambique and Zambia became the first two countries in the world to raise their benchmark interest rates this year, and Zimbabwe did the same on Thursday. Three of sub-Saharan Africa’s biggest economies…

South Africa Seeks to Protect Freight Rail From Extreme Weather

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JOHANNESBURG (Bloomberg) — South Africa’s ports and rail operator, Transnet SOC Ltd., is taking steps to counter adverse weather conditions that have increasingly been interrupting deliveries. Transnet’s freight-rail unit was forced to slow iron ore and manganese deliveries last month because of damage caused by tropical cyclone Eloise, the company said in a statement. Heavy rains scoured away soil at the base of the rail tracks, leading to derailments and line closures, it said. “Increased…

South Africa Wary of Sputnik, CanSino Shots Because of HIV Risk

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JOHANNESBURG (Capital Markets in Africa) — Russia’s Sputnik V vaccine, CanSino Biologics Inc.’s shot, and other Covid-19 immunizations relying on a cold virus that’s backfired in the past should show they don’t make people more vulnerable to HIV infection before gaining approval in South Africa, the head of a local vaccine company said. Sputnik V, CanSino’s injection, and another vaccine in development from ImmunitiBio Inc. use a harmless cold germ called adenovirus type-5 to carry…

Zambia Bonds Rally as Barclays Sees Holders Taking 20% Haircut

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LUSAKA (Capital Markets in Africa) — Zambia’s Eurobonds surged to their highest since March, when the government signaled it would restructure external debts, after Barclays Plc economists predicted holders might face losses much smaller than reflected in market pricing. The southern African nation’s $1 billion in notes due 2024 advanced as much as 2.2% to 58 cents on the dollar, extending their gains this month to 8.8%. Zambia became the first African defaulter of the…

Kenya to Refinance $2 Billion Eurobond Due 2024 by End-June

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NAIROBI (Capital Markets in Africa) — Kenya plans to take advantage of lower sovereign yields in the international bond markets to refinance a 10-year $2 billion Eurobond by the end of June. The measure is “part of proactive debt management to improve debt sustainability liquidity indicators,” such as the debt service-to-revenue and external debt service-to-export ratio, over the medium term, the National Treasury said in an emailed response to questions. The refinancing of the securities…

Getting your Slot Bonus: Step by Step Guide

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LAGOS (Capital Markets in Africa) – Loyalty goes a long way in life, whatever industry you’re in. Online slots such as Piggy Riches slot are no different. The vast majority of online casinos will nearly always offer attractive bonuses and promotions to their loyal customers. They’re the ones that have VIP status. The ones who have spent a certain amount of time playing on the online casino, or have reached a certain milestone with cash…

Online Slots with Multipliers that have No Limit

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LAGOS (Capital Markets in Africa) – Slot games are thrilling for almost every casino lover. They have many bonuses that do not just offer excitement to the players but also provide more winning power. Imagine playing a game that multiplies your win by 50. This has been made possible on online slot games that have unlimited multipliers. With multipliers, your win is increased by the number of multipliers you have – play fruit shop slots….

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