The Editorial Team

After a Decade of False Starts, Angola Gets Its Stock Market

LUANDA (Capital Markets in Africa) – With about 200 people counting down to Banco BAI’s share debut, Angola’s stock exchange finally got off the ground. BAI, the southwest African nation’s biggest lender, had 20 buy orders at 21,650 kwanzas ($50) on the bourse known as Bolsa de Divida e Valores de Angola, or Bodiva, 5% more than the the initial public offering price. But there were no sellers. “Today we have reached a new historic…

UK Faces Last-Ditch Court Bid to Halt Rwanda Deportation Flights

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LONDON (Capital Markets in Africa) – The UK’s controversial move to deport asylum seekers to Rwanda to process them was challenged in a London court as part of a last-ditch attempt to block the first flight to the east African nation. Lawyers representing asylum seekers asked a judge to halt next week’s planned flight, in what is the first case to scrutinize UK Prime Minister Boris Johnson’s flagship immigration policy. The case has attracted days of…

The Purpose And Vision

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We believe that all young people should be able to attain their full potential in life, education, and jobs, and that the workforce should be diverse and well-prepared. On this website, we will prepare students for the job market by teaching them the critical thinking, cooperation, and interpersonal skills necessary for success in the workplace. We collaborate with NGOs and school partners to identify bright, motivated teenagers who wish to widen their college and career…

Importers Warn of Kenya Parallel FX Market Amid Dollar Shortage

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NAIROBI (Capital Markets in Africa) – Kenya faces the risk of a fully-established parallel foreign-currency market as importers purchase dollars at a rate about 3% higher than the official quotes, according to a manufacturers’ lobby. Members of the Kenya Association of Manufacturers are buying the greenback at 120 shillings and above, compared with prices the banks publish of around 116 shillings, the group said in a statement on Monday. The business group spoke out about…

AfDB on Drive to Raise $40 Billion to Wean South Africa Off Coal

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JOHANNESBURG (Capital Markets in Africa) – The African Development Bank plans to help mobilize as much as $40 billion to help coal-dependent South Africa’s to transition to cleaner energy, part of a plan that it says won’t add to the country’s debt and could serve as a model for other nations. The lender, which didn’t give details on how the money would be raised, has been meeting members of the Group of Seven rich nations…

Pay Debt or Feed People Is Hungry Nations’ Impossible Choice

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LAGOS (Capital Markets in Africa) – After Sri Lanka defaulted on its debt, Jack McIntyre, a portfolio manager at Brandywine Global Investment Management, started watching rice and grain prices more closely. For a swath of the markets he’s tracking, global food shortages are presenting governments with a stark choice — pay their debts or feed their people. Sri Lanka opted for the latter, falling into arrears on its foreign debt May 18 amid a lack of dollars to ease…

Kenya Surprises With First Rate Hike in Almost Seven Years

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NAIROBI (Capital Markets in Africa) – Kenya’s central bank unexpectedly raised its key interest rate for the first time in almost seven years to anchor inflation expectations as concerns about commodity prices build. The monetary policy committee increased the rate by 50 basis points to 7.5%, Governor Patrick Njoroge said in an emailed statement Monday. That’s the first increase since July 2015. None of the five economists in a Bloomberg survey predicted the move. The…

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