Author: The Editorial Team

KINSHASA (Capital MArkets in Africa) – The Chinese businessman had walked out of a bank in Kinshasa with 13,624 hundred-dollar bills, 10,001 fifties and 43,000 smaller U.S. notes, despite explicit instructions to prevent it from happening. “The account has finally been emptied,” Yvon Douhore, head of an in-house audit team in the capital of the Democratic Republic of Congo, wrote in an email that day, July 5, 2018, after noticing the withdrawal. “I’m at a loss…

NEW YORK (Capital Markets in Africa) – President Joe Biden will give a speech on the economy and combating inflation on Tuesday as markets await his decision on the next Federal Reserve chair and possible moves to bring down U.S. energy prices. For the U.S. central bank, Biden is choosing between Chair Jerome Powell and Fed Governor Lael Brainard, who is viewed as more liberal on climate change and bank regulation. The White House has said Biden will…

NAIROBI (Capital Markets in Africa) – Sudan’s military and civilian leaders reached a deal Sunday to reinstate Prime Minister Abdalla Hamdok, who was ousted in a coup last month that reignited mass protests and political uncertainty more than two years after a popular uprising forced out longtime autocrat Omar Hassan al-Bashir. Hamdok, who had spent the past month under house arrest, praised the agreement as a way to restore Sudan’s fragile democratic transition, but the…