Author: The Editorial Team

LAGOS (Capital Markets in Africa) – About 80% of freshly minted cryptocurrencies are underwater and their average returns are close to zero relative to Bitcoin within a year, according to a Jump Crypto analysis. While there are a few high-profile outliers, the majority of new coins were underperforming within the first month, the public-facing crypto brand for Jump Trading Group found, after analyzing 3,759 tokens — excluding assets like stablecoins — that were listed on CoinGecko and…

ALGIERS (Capital Markets in Africa) – Algeria threatened to cut natural gas flows to Spain if it re-exports Algerian supplies to other countries, amid rising diplomatic tensions over Morocco.The warning came after Spanish Energy Minister Teresa Ribera said Madrid would start sending gas, albeit of non-Algerian origin, to Morocco via the Maghreb-European pipeline.Spain has discussed the use of the pipeline, known as MEG, with Algeria in recent months and its decision was communicated on Wednesday, according to…

JOHANNESBURG (Capital Markets in Africa) – UPL Ltd. has proposed releasing water contaminated by a pesticides spill in the eastern South African city of Durban into the sea or municipal sewers. While the Indian agro-chemical firm said experts it contracted have since late 2021 deemed the water fit for disposal using these methods, the city says that as recently as April 11 storm-water contained in a pollution control dam “remained highly toxic to the environment.”…