The Editorial Team |

Scotland’s Leader Warns Johnson He ‘Can’t Deny Democracy’

LONDON (Capital Markets in Africa)- Scottish First Minister Nicola Sturgeon vowed to maintain pressure on the U.K. for another referendum on independence and said the standoff with Prime Minister Boris Johnson over the issue is just a “phony battle.” In an interview with Bloomberg Television in Brussels on Monday, she also repeated the possibility of asking the courts to decide whether the Scottish Parliament already has the power to hold a consultative vote. That, though, is not the preferred…

Irish Bank, Property Stocks Lead Slide After Sinn Fein Surge

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LONDON (Capital Markets in Africa) – Irish stocks slid on Monday after polls put Sinn Fein in place for a possible role in government, fueling declines in banks and property shares given that the party’s policies include a wealth tax and a freeze on residential rents. The benchmark ISEQ Index slid as much as 1.4%, with Bank of Ireland Group Plc and AIB Group Plc falling as much as 7.8% and 6%, respectively. Among real estate…

U.S. Could Actually Use More Nigerian Immigrants: Justin Fox

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LAGOS (Capital Markets in Africa) – A new ban from the White House hits one of the most successfully integrated groups in the country. This column will not render a verdict on whether the White House decision last week to suspend immigration from Nigeria — the world’s seventh most-populous nation — and five other countries was mainly an expression of bigotry from an administration led by a man who once likened African nations to latrines, or if it was…

The Rebel Turned Politician Who Wants to Rule Ivory Coast (

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ABIDJAN (Capital Markets in Africa) – In Ivory Coast, where big-man personalities dominate and switching allegiances is par for the course, Guillaume Soro — former student leader, rebel chief and prime minister — seems a perfect fit to one day lead the world’s biggest cocoa producer. His loyalties have zigzagged over the years, from being a supporter of Laurent Gbagbo, the man who led Ivory Coast into a civil war, to backing Alassane Ouattara, who defeated Gbagbo in elections…

Seychelles Central Bank to Keep Rate at 5% on Low Inflation Risk

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LAGOS (Capital Markets in Africa)- The Central Bank of Seychelles expects to keep its key interest rate unchanged this year as prices are likely to climb at a slow pace on the Indian Ocean archipelago. “The monetary policy rate is expected to remain at 5% in 2020, a rate that would support an interest-rate level conducive to a level of credit to the private sector that boosts economic activity, but does not introduce inflationary pressure,”…

Nigeria Bourse Urges Brokers to Combine as It Readies Listing

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LONDON (Capital Markets in Africa)- The Nigerian Stock Exchange is urging stockbrokers to buy dormant licenses or combine with other operators rather than apply for new ones as the bourse prepares to go public. Members of the exchange will vote on March 3 to convert from a member-owned mutual organization into a public limited-liability company. The exchange, which has 252 dealing members as well as 166 listed equities and 154 bonds, will change its name to Nigerian…

Coronavirus Looms Over Africa’s Fragile Health Systems

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LONDON (Capital Markets in Africa)- The rapidly spreading coronavirus has wreaked havoc across much of the developed world, yet not a single case has been confirmed so far in Africa — the continent that’s least equipped to deal with the epidemic. Health officials are still bracing themselves for the worst. Two-way travel between Africa and China, the epicenter of the respiratory illness that’s infected more than 31,000 people since late December, has surged over recent…

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